Aavishkaar Capital selected for 2X Challenge for Gender Financing

January 20, 2022: Aavishkaar Capital (Aavishkaar), an Aavishkaar Group company and a global pioneer in taking an entrepreneurship-based approach to scaling businesses for impact, has been recognised and selected for the 2X Challenge – A global gender finance initiative as part of the 2x category. 

Aavishkaar Capital is the only prominent venture fund from India to join this prestigious challenge and will use this opportunity in reaffirming their commitment to invest in women and empower women globally by backing women led businesses with significant impact capital.

The 2X Challenge is a multilateral initiative that was launched during the G7 Charlevoix Summit in June 2018 with the objective of mobilizing $ 3 billion in commitments that provide women in developing countries with access to leadership opportunities, quality employment, finance, enterprise support and products and services that enhance economic participation and access. The initiative has revised its fundraising goal to an ambitious $15 billion in 2021 after raising more than double the previous target of $3 billion. 

Aavishkaar Group is an Impact Platform with a vision to Bridge the opportunity gap for the emerging 3 Billion across the Globe. Launched in 2021, Aavishkaar Group Impact Report 2020, showcased the silent humanity of women leaders across Asia and Africa, 55 Million have been part of Aavishkaar Group Impact Journey. The Group intends to achieve perfect gender balance by 2030 with equal representation of women across our products, services, Board, leadership and employment. 

Speaking about the initiative, Vineet Rai, Founder and Chairman of the Aavishkar Group says that, “While entreneurship and related activities have increased manifold in the past few years for India as well as the world, women still have very limited access to resources that can ensure they become a success in the sector. This selection by the 2X Challenge is both an honor and responsibility and the Aavishkaar Group will ensure that it stands true to its commitment.”

Welcoming the development, Sowmya Suryanarayanan, Lead – Impact and ESG said, “Aavishkaar Capital and the larger Aavishkaar Group are very involved with creating impact and gender based financing is necessary to reduce inequality in the world when it comes to this sector; this is especially true in the global South. We welcome this opportunity to further the cause that we have been working on for a long time now.”