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Gray Ghost Annual Report 2017
Claudius Gutemann, Gray Ghost Annual Report 2017 14 Jun 2018
Accelerating the Flow of Funds into Early-Stage Ventures
Audrey Selian, Accelerating the Flow of Funds into Early-Stage Ventures 03 Jun 2018
Other

Social Investment Landscape in Asia

AVPN has identified the need for a comprehensive overview of the Asian philanthropy and social investment landscape to offer social investors a guide to the opportunities for social investment in Asia. The Social Investment Landscape in Asia will be an invaluable resource for funders and resource providers as they assess the opportunities and challenges for philanthropy and social investment in the region. It is designed to be a guide for both new social investors looking to enter the Asian market and existing social investors exploring cross-border or cross-sector opportunities within the region. The Landscape is another way to further AVPN’s mission to increase the flow of financial, human and intellectual capital to the Asian social sector.

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Other

insights from impact advisors & consultants 2017

In this new report, T100: – Insights from Impact Advisors and Consultants 2017 , 37 impact advisors and consultants from 12 countries, partnering with 38 of Toniic’s 100% Impact Network members, open the door to their impact practices to demystify, inspire and activate both investors and the financial services industry. While today there are more impact firms and product offerings to choose from than ever before, information on impact intermediaries, especially for private asset owners, remains sparse despite the growth of the industry.

This report highlights different approaches, perspectives, and business models of impact advisors and consultants, demonstrates the growing range of innovative impact products and services, and explores trends, challenges and successes faced by practitioners. It intends to inspire asset owners and managers as they embark on their own
journey into impact.

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Other

Annual Impact Investor Survey 2017

The GIIN’s 2017 Annual Impact Investor Survey is based on an analysis of the activities of 209 of the world’s leading impact investing organizations, including fund managers, foundations, banks, development finance institutions, family offices, pension funds, and insurance companies. Survey respondents collectively manage nearly USD 114 billion in impact assets, a figure which serves as the best-available “floor” for the size of the impact investing market.

In its seventh edition, this state of the market report presents investors’ perspectives on key issues important to the impact investing industry, as well as analysis of their investment activity, asset allocations by geography, sector, and investment instrument, impact measurement practice, and performance. For the first time, the GIIN also examined investor perspectives on current market topics, such as market segmentation, the role of below-market-rate capital in impact investing, the entry of large-scale financial firms into the market, and impact investing in public equities. New topics also include investors’ commitment to the UN Sustainable Development Goals.

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Acceleration/ incubation

Accelerating Startups in Emerging Markets

The second major report from GALI, written in collaboration with Deloitte, compares acceleration in emerging markets versus high-income countries. Examining data from more than 2,400 early stage ventures that applied to 43 programs, it finds more similarities between emerging market and high-income country entrepreneurs and accelerator programs than commonly believed.

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Energy and Power

Improving access to electricity through decentralised renewable energy

Despite significant efforts, access to electricity remains inadequate across Sub-Saharan Africa and India. Of the over 1,27 billion people living in Sub-Saharan Africa in 2016, roughly 65% did not have access to electricity. India has made considerable strides in village-level electrification, with 96% of all villages now electrified. Yet 51 million Indian households (244 million people) still lack access to electricity today.

Lack of electricity has severe economic impacts: the costs of power outages can easily reach 1–2% of GDP.2 At the local level, studies show that schools without electricity have poorer staff retention and educational outcomes than those with and that electrification has positive effects on household incomes.3 At the macrolevel, connectivity, healthcare, agriculture, and smallbusiness development are just a few of the sectors that depend on a reliable energy supply. African firms report losing 5% of their sales because of frequent power outage; that figure rises to 20% for informal firms unable to afford backup generation.

Given the importance of electricity to economic and social development, many countries have announced ambitious electrification goals – yet challenges remain. For example, India and Nigeria plan to reach universal electrification by 2019 and 2030, respectively. However, these goals rarely align with financial, political, and institutional reality on the ground. Numerous challenges persist, including: insufficient power generation, poor transmission infrastructure, last-mile distribution challenges, affordability of power, and inadequate and inappropriate sector funding. Achieving universal
access will therefore require coordinated efforts by the development community, government, and the private sector.

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Other

Enhancing Capabilities, Empowering Lives - CSR in Skills and Livelihood: What are India’s top companies up to?

Enhancing Capabilities, Empowering Lives - CSR in Skills and Livelihood: What are India’s top companies up to?

Samhita Social Ventures, in partnership with Ambuja Cement Foundation, DHFL (Dewan Housing Finance Corporation Limited), Godrej and the United Nations Development Program (UNDP) releases a report which maps the CSR trends in Skill development and Livelihoods of the 100 Indian companies with the largest CSR budgets on the BSE 500. The report aims to highlight major trends, identify gaps and opportunities in the skills and livelihood value chain and provide a roadmap for companies and other stakeholders to overcome these challenges.

Download the report here.

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Other

FSG's Report on Informal Housing, Inadequate Property Rights

FSG's Report on Informal Housing, Inadequate Property Rights

In India, as in many other developing countries, urban population growth and the short¬age of planned affordable housing have led to 26–37 million households (33–47 percent of the urban population) living in informal housing (residences on encroached land or in unplanned settlements). This report written by FSG and funded by Omidyar Network applies a property rights lens to segment the different types of informal housing, to understand the size and the needs of these segments, and to identify potential solutions to meet these needs.

Download the report here.

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Other

Aavishkaar Annual Impact Report 2016

About the report
With their Annual Impact Report 2016 Aavishkaar has this year tried to take a deeper look at their impact thesis and their focus on the distinction between the fund impact and portfolio impact. Find the full report here.

About Aavishkaar
Aavishkaar, part of the Intellecap-Aavishkaar Group is one of the global pioneers in taking an entrepreneurship based approach to development. Since its incorporation in 2002, Aavishkaar has gone on to make more than 50 investments, across sectors and has raised five funds with a total of ~US$ 200 million under management. Through this, Aavishkaar has successfully demonstrated the potential for venture capital investment in enterprises that engage with the low-income population or operate in under-served markets. Aavishkaar began with a focus on early-stage enterprises operating in India, and with the launch of Aavishkaar Frontier Fund in 2015, it is now expanding into South and South East Asia.

 

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Other

Scaling asset finance for small and growing agribusinesses

This report by Jack Luft and Tim Chambers, and sponsored by the Shell Foundation, the Small Foundation, and Epven, reflects the first-hand experiences and perspectives of over 70 asset finance experts, contains case studies from Kenya, Guatemala, and India and highlights the critical success factors that drive scale in asset finance.

It can be accessed via the link below:

http://www.inspirafarms.com/articles-publications/

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Other

Review of Foreign Direct Investment (FDI) policy on various sectors

1. Relaxation of rules for application of higher withholding tax rate in the absence of a PAN

The Indian Income Tax Act provides for a payer to apply a higher withholding tax rate if the recipient of income does not furnish its Permanent Account Number (PAN). This was also applicable where payments were effected to non-residents and the latter had to obtain a PAN to that effect.

However, the Indian tax authorities have recently issued a notification whereby the requirement for non-residents to have a PAN has been made less stringent. Pursuant to the notification, the higher withholding tax rate would not apply to a non-resident for the following payments, even though it does not have a PAN:

(i) Interest;
(ii) Royalty;
(iii) Fees for technical services; and
(iv) Payments on transfer of any capital assets.

Nonetheless, the non-residents which would be receiving the income should furnish the following details:

• name, email, contact number;
• address in country of residence;
• Tax Residency Certificate (TRC); and
• Tax Identification Number (TIN) in country of residence.

Most of the above details are already being provided by non-resident recipients of income by way of a TRC and/or Form 10F which are prerequisites in India to avail of benefits under a Double Taxation Avoidance Agreement (DTAA). The new amendment will, therefore, reduce the administrative and compliance burden for non-residents which are receiving income from India.

2. Amendment to the retrospective applicability of the General Anti-Avoidance Rules (GAAR)

The Income tax department in India has, via a notification issued on 22 June 2016, provided clarifications on the retrospective applicability of the General Anti-Avoidance Rule (GAAR) as follows:

(i) GAAR will not apply to income derived by a person from transfer of investments made before 1 April 2017. The earlier version of the GAAR provided for this date to be 30 August 2010.
(ii) GAAR will apply to any arrangement irrespective of the date it has been entered into if a tax benefit is obtained on or after 1 April 2017. Previously, this date was 1 April 2015. 2
 
3. Liberalisation of foreign direct investment policy in India

Further to a meeting chaired by Prime Minister Narendra Modi on 20 June 2016, the Government of India has taken steps to further liberalise the foreign direct investment (FDI) regime and on 24 June 2016, the Department of Industrial Policy and Promotion (DIPP) issued Press Note 5 of 2016 Series (Press Note). Now, most sectors would fall under the automatic approval route, except for a small negative list. As per the Press Note, changes introduced in the policy include increasing sectorial caps, bringing more activities under the automatic route and easing of conditionality for foreign investment.

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