Aavishkaar Venture Fund has acquired a 15% stake in Ahmedad-based social enterprise Nepra Resource Management Pvt. Ltd., which is involved with waste collection. The company expects a Rs.100 crore turnover from dry waste by 2016. It has planned a Rs.70 crore investment in the state and signed an MoU at the Vibrant Gujarat business summit earlier this month.
The investment will entail hiring 10,000 rag-pickers as suppliers for collection of waste and setting up a material recycling facility in Gujarat.
Source: Economic Times
Are you at APEX?
Where The Stars Foretell the Future of Indian PE/VC
Are you Showcasing at APEX?
Don’t Miss Out on THE Most Effective Investor Networking Opportunity of the Year
http://ventureintelligence.blogspot.in/2013/01/crucial-connect-to-venture-capital.html
