Acumen to invest in low-income housing in India.

Acumen Fund, a New York-based not-for-profit venture fund for businesses that address poverty, is about to make its first investment in the low-income housing space in India.

'We will be investing up to $8 million (nearly Rs.50 crore) in India in 2014, of which around $2 million will be invested in the low-income housing space,' said Karuna Jain, a senior portfolio associate of Acumen Fund. 'We are actively looking at housing finance companies to invest in and will close our first investments in a couple of months.'

Acumen has made 27 investments in India till date across sectors such as agriculture, education, energy and health. In 2013, the fund invested around $5 million in India.


LIVEMINT