Swiss impact investment firm Beyond Capital, which has backed startups such as Lal10, Frontier Markets, and FreshR in India, has elevated one of its executives to a partner role.
The Zurich-based firm, which also invests in other geographies such as the East African countries, Friday said it has promoted Nicholas Java as a partner.
Java, an alumnus of the Columbia Business School has been associated with the firm’s investment team for more than twelve years.
In his stint with Beyond Capital, Java has worked with several of Beyond Capital's portfolio companies, including Lal10, Frontier Markets, and FreshR in India, and Zanifu and Cinch in East Africa.
Previously, as a venture partner at Beyond Capital, Java also served as a Director at Tyton Partners, a firm that offers investment banking and strategy consulting services to the education sector.
Java is also a US Army veteran.
In his current role, he will be joining current Managing Partner Eva Yazhari and will help lead the firm's due diligence and portfolio management.
"Our investment strategy is backed by demographic tailwinds, economic liberalization, and technological innovation in India and East Africa. Moreover, our multi-asset approach of equity and debt helps investors navigate these regions with agility. I aim to use my market knowledge and network, working closely with our portfolio companies, limited partners and regional teams in India and East Africa, to help the firm generate superior financial returns while achieving sustainable social and environmental benefits," said Java.
Beyond Capital, which was founded in 2009, invests in businesses that are focused on improving access to healthcare, water, sanitation, energy, food security and financial inclusion.
The impact fund is structured as a non-profit firm though it seeks market-rate financial returns, it said.
Prior to the appointment, the firm also marked the first close of the Beyond Capital Ventures Debt Opportunities Fund.
In terms of its India foray, Beyond Capital struck its first India deal in 2013 when it invested in Assam’s ERC Eye Care Pvt. Ltd, which provides low-cost eye-care services to poor people. It invested again in 2015 and 2016, before making an exit in 2017 when ERC raised Series A funding.
It earned an internal rate of return, or annualised return, of 27% on its investment, according to its website. That’s within the 20-30% IRR range that venture capital investors chase in rupee terms in India.
