Aavishkaar Group sets sights on $8 billion assets by 2035, says Vineet Rai- Story on CNBC TV18, India
Aavishkaar Group is targeting a sharp expansion of its assets under management, with plans to grow from $1.3 billion today to as much as $7–8 billion by 2035.
Vineet Rai, Founder of Aavishkaar Group and Managing Partner of Aavishkaar Capital, told CNBC-TV18 that scaling up the firm’s new credit fund will be central to this journey.
“We are eyeing $3.5 to $4 billion of assets by 2030, and roughly around $7 to $8 billion by 2035. Building the credit side of the business is a critical component of the scale we are envisioning for the group,” he said.
The growth push comes alongside a fresh $40 million investment from Japan International Cooperation Agency (JICA) into Aavishkaar Capital’s Global Supply Chain Support Fund. Rai called the move “a new chapter” in the India-Japan partnership.
“This is actually a completely new thought process where Japan is co-partnering with Indian Ocean countries to make a significant difference in Africa’s economic growth,” he said, noting it is the first time Japan is investing in an Indian fund that will deploy capital into Africa.
The JICA infusion has helped the fund cross the $100 million mark, with plans now to scale up to $220 million. The focus is on supporting small and medium enterprises (SMEs) in Asia and Africa, especially in sectors like agriculture, food processing and manufacturing.
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