To strengthen the economic role of women in India, Proparco supports Lighthouse Funds
Proparco invests US$ 15 million in private equity in Lighthouse India Fund IV AIF (Fund India), an India’s leading growth-stage private equity firm which applies the 2X Challenge criteria to its portfolio companies and its own structure, with 1/3 of its senior managers being women (100% 2X Challenge).
MUMBAI, India and PARIS, Feb. 23, 2024 /PRNewswire/ — To strengthen its gender impact in India, Proparco has committed US$15 million to the fund. Proparco will be the first investor to sign a memorandum of understanding with Lighthouse, confirming its alignment with the principles of the 2X Challenge. The 2X Challenge initiative, launched by the G7 development finance institutions, aims to mobilise US$ 15 billion for investments in the world’s women.
Lighthouse has partnered with WinPE (Women in Private Equity), an Indian association that promotes gender equality in the private equity sector, to establish internal gender KPIs. Rochelle Dsouza and Anshul Jain are ambassadors of this association. Proparco is also a member of WinPE since 2023. Otherwise, Tynor Orthotic (Fund III) another Lighthouse’s partner, has set up a “zero tolerance” policy against sexual harassment. It also actively seeks to promote women at management level and offers a free childcare facility.
“Proparco is very proud to be part of Lighthouse’s ambition to increase its investment in the healthcare sector. We are delighted to help the Lighthouse team in India strengthen its gender impact strategy” said Françoise Lombard, Chief Executive Officer of Proparco, during the meeting in Mumbai with the leaders of the Lighthouse Funds, shortly after the visit of the President Macron in India.
To learn more, follow this link: To strengthen the economic role of women in India, Proparco supports Lighthouse Funds | Proparco – Groupe Agence Française de Développement
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