LGT acquires Indian impact investor
LGT is acquiring the impact investor Aspada, based in Bangalore in India. This acquisition will strengthen the impact investing platform of the banking group owned by the Principality of Liechtenstein.
The impact investing platform LGT Lightstone aims to direct investment capital around the world into businesses that improve the livelihoods of “underserved consumers” and “promote sustainable resource utilization”, the Vaduz banking group wrote in a press release. The impact investor Aspada acquired by LGT focuses venture capital on companies that operate in the areas of farming, logistics, financial services, education and healthcare in India. The purchase price of Aspada, which has until now been backed by the Soros Economic Development Fund, was not disclosed in the press release.
“The acquisition of Aspada and the launch of the brand LGT Lightstone is a significant step in furthering LGT Group’s pioneering commitment to impact investing and sustainability,” said the CEO of LGT, H.S.H. Prince Max von und zu Liechtenstein. “We believe that there is significant opportunity to harness breakthrough developments in technology to deliver scalable business solutions focusing on the economic advancement of underserved populations globally.”
Aspada currently manages a portfolio of more than 15 investments with total invested capital amounting to over US$100 million. This takeover will see the Indian impact investor be fully integrated into LGT Lightstone.