Legatum, a firm that invests in initiatives that support social development, today announced an investment of $8.4 million (Rs 34 crore) in Intellecap, a provider of business advisory services for investors and companies that seek both a financial and sustainable social return on investment.Philip Vassiliou, senior vice president, Legatum, said: "Intellecap is an innovative and entrepreneurial company that has created a unique niche, intermediating financial capital into development-oriented businesses operating in India's poorest communities. Intellecap will now seek to extend and develop its combination of world-class services and people, delivering independent, impartial and insightful enterprise solutions."Intellecap co-founder Vineet Rai said: "We are delighted that in Legatum we have a partner committed to the same principles, and whose investment will help us increase our reach to investors, enterprises and entrepreneurs focused on sustainable development in India's poorest communities." Legatum's investment will ensure that Intellecap is positioned to build new initiatives in the field of finance and strategy in the microfinance sector as well as other areas that benefit social and economic development. Sectors of focus for Intellecap includes health, education, and technology. Legatum has earlier invested in SHARE Microfin and Financial Networks and Operations.
