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Elevar Equity closes third venture fund

Elevar Equity has held the final close of Elevar Equity III (EE III) at USD74 million. EE III is focused on commercial investments in early stage companies providing financial services, education, housing and healthcare to low-income communities primarily in India and Latin America. With the new fund, Elevar manages over USD165 million in committed capital.

EE III's investors include the Rockefeller Brothers Fund, Oblate International Pastoral Investment Trust, JPMorgan Chase & Co, Omidyar Network, Prudential Financial, Inc., the Rockefeller Foundation, Blue Haven Initiative, Treehouse Investments and multiple family offices, private foundations and a university endowment.
 
"We are pleased to have raised this fund, like our first two, purely from marquee private investors, a unique distinction among emerging market impact funds," says Maya Chorengel, Co-Founder and Managing Director of Elevar Equity. "With 6 new investments already for EE III, adding to our first two funds' 16 companies, we are touching over 18 million low-income households."
 
"The Rockefeller Brothers Fund believes its investment in EE III exemplifies the potential to make a meaningful societal impact while generating market rate returns," says Geraldine Watson, VP of Finance and Operations for Rockefeller Brothers. "Elevar serves a critical role in providing much needed capital to high-growth companies backed by experienced entrepreneurs who are using their talents to improve the lives of their customers and contribute to the responsible development of local economies. Through our OCIO, Perella Weinberg Partners, we look forward to monitoring the range of services our commitment to Elevar will provide to disconnected communities."

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