The Aavishkaar Group, the largest impact Platform across Asia and Africa, has raised $37 million (260 Crores) from FMO, the Dutch Entrepreneurial Development Bank.

The Group plans to utilize the investment to strengthen its ownership in its debt platforms and expand its business in Africa and Southeast Asia.

S&R Associates represented the Aavishkaar group and the team was led by Partner Viral Mehta along with Associates Pooja Singhania, Vidhi Sharma, Gunit Kaur, and Sarangan Rajeshkumar.

Khaitan & Co advised FMO and the team was led by Partner Siddharth Shah along with Principal Associate Vinita Choudhury and Associates Tanvi Arora and Saumya Kakkar.

Aavishkaar, which currently manages assets of about $1 billion, received $32 million from Nuveen, the investment management arm of diversified financial services giant Teachers Insurance and Annuity Association, in December, reported ET.