Last updated 13 May 2020, by Impactyield.
Emerging countries (256) / Asia (67) / Southern Asia (30) / India (25)
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.
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.
of track record
the year funded
Headquarters location: India
Other funds managed by this asset manager: Aspada Investments
Equal rights to ownership basic services technology and economic resources
Key performance indicators
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: India
Product status: Closed - no longer investing
Style/Stage: Early Stage
Inception year: 2008
Vintage year: 2009
Target region: Asia, Emerging countries, India, Southern Asia
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
Currency of investments: USD (US Dollar)
Currency for fund / product figures: USD (US Dollar)
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
Phone number: +91 965 29 91 212
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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.