Last updated 13 May 2020, by Impactyield.

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The SONG Investment Company (or "SONG Fund") is a $17 million impact fund that promotes economic opportunity in India through investments in early stage businesses in India in the healthcare, agriculture, education, and basic public utilities sectors. The fund is backed by Soros Economic Development Fund, Omidyar Network and Google with the Centre for Emerging Market Solutions at the Indian School of Business as a strategic partner.

The fund made a total of four investment and completed one full exit and a recent partial exit.The portfolio is on track to delivering strong financial as well as impact performance.

Financial description

Over the last three years, SONG focused on investing in early stage firms in previously under-invested, high-impact sectors such as low-cost healthcare, education, and agriculture. The goal has been to create significant socio-economic impact with invested capital as well as to “re-price” the risk of investing in early stage companies in these sectors. SONG made four investments that continue to actively be managed by Aspada Advisors.

15 years

of track record


the year funded



Asset manager

Aspada Advisors


Headquarters location:

Other funds managed by this asset manager: Aspada Investments

SDG goals

SDG targets

Equal rights to ownership basic services technology and economic resources

Impact Category

Key performance indicators

Fund overview

Asset manager: Aspada Advisors

Product track record: Fund has 15 years of track record

Target IRR: n.a.

Committed Capital: n.a.

Target return category: Below risk-adjusted market-rate of return

Fund domicile:

Product status:


Inception year: 2008

Vintage year: 2009

Target region: , , ,

Target close date: n.a.

Product term: 10 years

Assets under management: n.a.

Investment size: Min: 1,000,000; Max: 3,000,000; Avg: 0

Co-investment policy:

Currency of investments:

Currency for fund / product figures:

Fund investments to date: 4

Fund investments to date exited or repaid: 2

Management fee: n.a.

Carried interest: n.a.

Hurdle rate: n.a.

GIIN Investors' Council Investment: Yes

Limited Partners / Investors: Soros Economic Development Fund, Omidyar Network and Google

Limited Partner / Investor Type: Other Institutional Investors


E-mail: n.a.


Phone number: +91 965 29 91 212

If you wish to have your details removed from this database please email

Kartik Srivatsa

Managing Principal

Impact Performance


Impact thesis

SONG’s mission is to provide early and growth stage capital and operational support to small and medium enterprises (SMEs) in sectors that can contribute significantly to economic development as well as create sustainable social impact in India. SONG’s focus is to back companies that develop innovative and scalable solutions to the real problems facing India in sectors such as agriculture, healthcare, education, business services and basic utilities. SONG’s investments will help businesses create jobs or provide basic goods and services for low-income populations.
Impact goals include:
a) providing access to basic services such as affordable education and healthcare to the low income segment
b) improving livelihoods of small hold farmers through farm extension activities and improved market linkages
c) opening up market access to under-served communities
Additionally, SONG investment policies satisfy Program Related Investment (PRI) guidelines.

Impact Management


Financial benchmark

Term Description:


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