Incube Connect Fund

Who we are

Sponsored and set up as India's first Social Venture Fund registered with SEBI as Category I Alternate Investment Fund for investing into socially impacting, scalable and profitable enterprises/technologies. Incube Connect Fund (ICF) is aimed at entrepreneurs typically at the bottom of the pyramid in terms of their ability to raise capital, partner them & take them into an ecosystem which nurtures them to be investor-ready. Central to this lay our core principle of creating sustainable social business models which can be replicated across domains, significantly improving the social fabric of this nation.

Investment Philosophy

  • To be a partner of choice for businesses involved in generating significant social impact
  • Creating a platform to source, invest and nurture businesses of entrepreneurs at the bottom of the pyramid
  • Creating livelihood opportunities
  • Creating entrepreneurial ecosystem in Tier II & Tier III cities, translating into better quality of life
  • Creation of sustainable and scalable businesses

Value Proposition

SEBI defines "social venture" as a trust, society or company or venture capital undertaking or limited liability partnership formed with the purpose of promoting social welfare or solving social problems or providing social benefits.

By virtue of being registered under SEBI as a Social Venture Fund, we are able provide as well as accept grants from charitable institutions, societies, micro finance institutions which, otherwise, is not accommodated under the traditional PE framework.

The key differentiator of India's 1st Social Venture Fund is to facilitate social audit to critically asses the social impact against the outlined parameters for investment consideration.

High Impaction Investments

The Fund seeks to bridge the gap between the efficiency and scale of market-based approaches and the social impact of pure philanthropy. The Fund, leveraging on the expertise gained by the Investment Manager's team, in promoting and facilitating the growth of early stage ventures, is designed to take advantage of investment opportunities that create significant social impact. Fund would invest in body corporate or special purpose vehicle that is involved in or proposes to involve in research, development, promotion, services, business or commercial activity having significant social impact.

Healthcare Delivery - Products & Support Services

The industry is rapidly developing and is being fueled by large investments from existing corporate hospital chains and new entrants backed by private equity investors. Indian healthcare industry is driven by a combination of ageing population, growing lifestyle diseases, increasing ability to afford quality healthcare and growing medical insurance penetration. However, high upfront investments and long gestation periods, as also burgeoning real estate costs and growing manpower shortages, will compel the hitherto tertiary-metro-focused private sector to innovate with business models.

Government-run facilities have inadequate equipment and low quality. A chronic shortage of healthcare infrastructure exists, especially in rural areas and tier II & III cities.

*Some of the focus areas for investment in healthcare delivery systems are:

  • Ambulance services
  • Primary healthcare
  • Diagnostic centers
  • Small hospitals in Tier II & Tier III cities
  • Blood & Other Organ Banks
  • Affordable Dialysis facilities

Vocational Education & Skill Enhancement

Vocational Training takes place through two basic structural streams - a small formal one and a large unregulated informal one. The formal VT is regulated through Directorate General of Employment & Training under the Ministry of Labor & Employment. Government has played an important role in developing this sector by providing financial and infrastructural support. National Council for Vocational Training (NCVT) and Central Apprenticeship Council are advisory bodies and create policies for development and also maintaining standards at all institutes. However, the formal Government system is grossly insufficient to cater to future skill development requirement.

*Some of the focus areas for investment:

  • Technical vocational training Institutes
  • Vocational training programs for undergraduates
  • Finishing schools for Tier II & Tier III cities
  • Skill sets enhancement especially for women in cottage & handicraft industries

Clean Energy and Eco Business

Given the comparatively higher cost of generating energy from renewable sources, there is a necessity for financial support for the industry from the Government. Huge potential for Solar Energy development exists in India but the capacity was restricted in past due to high capital expenditure.

*Some of the focus areas for investment amongst the one discussed above are:

  • Solar & Bio gas units
  • Geo Thermal Power
  • Rain water harvesting
  • Sanitation
  • Waste management & Recycling
  • Conservation of natural resources

Sustainable Rural Business innovations

The programmes undertaken by the Central Government, State Governments, other semi-government agencies and various NGOs have not been able to achieve the objectives of integrated rural developments and have left huge gaps which are being filled by the Private Sector entrepreneurs .Vast areas in rural landscape still remain untapped and offer tremendous opportunities to Private Sector Entrepreneurs.

*Some of the focus areas for investment:

  • Agri processing industries in Tier II & Tier III cities
  • Technology-backed businesses for alternative fuels & bio-fertilisers
  • Technology-based business solutions for rural applications

* List of focus areas is only indicative, and by no means exhaustive.

Impact Creation & delivering Value

We are committed to providing life saving medicines like Albumin, Immunoglobulin, Factor VIII and Factor IX etc to suffering patients of Gujarat in Phase 1 & to patients across the country in next phase cost effectively, thereby, achieving maximum utilisation of surplus plasma of donated blood. Most importantly, this will help reduce dependency on imports and make these life saving medicines of international standards available at affordable price. After all, "every donated blood is priceless "as much as "every single Life is precious".
'Plasma Fractionation'

"We are developing autologous cellular therapy for treatment of cancer and auto-immune diseases. The technology is based on monocyte-derived dendritic cells, which are the most potent and the most common antigen presenting cells in our body. Development of personalised and targeted medicine/treatments is not covered under patent restrictions; treatment cost expected to be fraction of the international cost."
'Healthcare & Lifesciences'

We are committed to create an environment conscious society through innovative outdoor-based programmes. We are actively involved in development and management of ecological sites as alternative livelihood option for local communities, geographically isolated from the mainstream development activities.
'Eco tourism'


Fund Advisor Tax Consultant Auditors Legal Advisors
KPMG (Registered)
& Sells
M/s. Kunte & Modha Associates Chartered Accountants M/s. Deloitte Haskins
Chartered Accountants
M/s. Rajani Associates
Advocates & Solicitors