Aavishkaar Capital invests Rs 12 cr in Jumps Auto Industries
Date: 21 Dec 2023
ESG
First Fund, managed by Aavishkaar Capital (Aavishkaar), an Aavishkaar Group
company and a global pioneer in taking an entrepreneurship-based approach to
scaling businesses for impact, and set up in partnership with KfW, a German
state-owned development bank, announced their third investment of Rs 12 cr
(1.45 Million USD) from the ESG First Fund into Jumps Auto Industries (JAI), a
global manufacturer of automotive components.
ESG
First Fund is a USD 250 Mn fund from Aavishkaar Capital, focused on investing
in Asia and Africa with the mandate of generating superior Environmental,
Social and Governance (ESG) outcomes and commercially viable financial returns
alongside positive social impact. The Fund was established with the primary
objective of improving these areas especially along the supply chains serving
the global markets.
Established
in 1990 by founders Sanjay Malhotra and Joginder Malhotra, Jumps Auto
Industries (JAI) is a fully integrated manufacturer and exporter, specializing
in starter motors, alternators, and dynamo generators. With a global presence
spanning across 50 countries, the company has solidified its position as a key
player in the automotive industry.
The
infusion of capital helps drive Jump Auto Industries (JAI) towards a more
sustainable future, aligning with the growing demand for eco-conscious
automotive solutions worldwide.
Commenting
on the investment, Sanjay Malhotra, Promoter, Jump Auto Industries said, “As a
leading integrated player we are poised for a multi-fold growth globally. We
believe in our vision to drive this transformation. This securing funding from
Aavishkaar Capital’s ESG First Fund will enable the company to execute its
strategic plans, including expanding our product portfolio, advancing
geographical reach, and fortifying our electric vehicle (EV) offerings. ”
Monu Jain, Partner-Credit, ESG First Fund, Aavishkaar
Capital said, “We are excited to invest in Jumps Auto Industries and support
them in their next phase of growth and to elevate their Environmental, Social,
and Governance (ESG) practices. Aavishkaar Capital is excited to foray into
structured credit products with the ESG First Fund and we look forward to
empowering businesses with non-dilutive and flexible financial solutions that
are better aligned to their growth needs.”