Aavishkaar Intellecap Group, has announced the appointment of Godfrey Mwindaare as the second partner for the Aavishkaar Africa Fund (AAF) which is a $150 million venture capital fund that would make high impact investments across East Africa and West Africa.
Since its inception in 2007, Aavishkaar has raised six progressively larger funds with commitments aggregating to $300 million with investments across India, Bangladesh, Sri Lanka and Indonesia. AAF will be the seventh fund managed by Aavishkaar, an advisory and fund management company.
On this appointment, Vineet Rai, Founder of Aavishkaar-Intellecap Group, said, ‘We welcome Godfrey to our growing team and his rich experience in the African market, an important market for the group, will enable us to expand in the untapped regions of Africa.’
Godfrey Mwindaare will join Abhishek Mittal, who is the other Partner for Aavishkaar Africa Fund. Godfrey has over 20 years of experience in banking and private equity, having previously worked at Barclays Capital in London, Standard Bank in South Africa and Tanzania, the African Development Bank in Tunisia and Acumen Fund in West Africa. He has led several multi-million-dollar projects and has served on several boards including the Central Bank of Ghana and Green Africa Power. He currently serves on the board of Infraco Africa and a member of the Risk Committee of PIDG Ltd. Godfrey holds an MBA in Financial Management from the University of Hull and is a member of the Chartered Institute of Bankers.
The fund is an integral part of the Aavishkaar Intellecap Group’s expansion into Africa. The AAF will leverage the group’s collective industry expertise and learnings from its portfolio of over 60 enterprises across the global south to bring significant value to impact entrepreneurs across Sub-Saharan Africa.