C4D Bharat Shubharambh Fund Grant

About this grant

The C4D Bharat Shubharambh Fund is an India-dedicated impact investment fund launched by Capital 4 Development Partners BV (C4D Partners), with a total corpus of US$75 million. The fund aims to invest in growing small and medium enterprises (SMEs) across India that demonstrate the potential to create meaningful impact through their business models and deliver value to their stakeholders. The fund is guided by three core investment themes: livelihood creation for underserved communities, climate action and sustainability, and gender equity through a gender-lens investing approach. C4D Partners applies gender-smart principles across all investment processes and encourages portfolio companies to adopt gender strategies suited to their businesses. The fund targets purpose-driven businesses operating across diverse sectors, including financial inclusion, skilling and education, food manufacturing, waste management, and logistics, among others. Investment decisions are driven by a business's alignment with the UN Sustainable Development Goals (SDGs) and its capacity to generate inclusive economic development. Beyond capital, C4D Partners provides non-financial support to investee companies, including board participation, networking, connections to follow-on investors, access to programs such as the Stanford Seed Program, and opportunities to collaborate with other portfolio founders through annual retreats. The fund seeks risk-adjusted market-rate returns while delivering lasting social and environmental impact.

Eligibility

Applicants must be growing small and medium enterprises (SMEs) based in India. Eligible businesses must demonstrate potential to create meaningful impact through their core business model and deliver value to stakeholders. The fund prioritises businesses aligned with at least one of three focus areas: sustainable livelihoods for underserved communities, climate positivity, and gender equity. Businesses should be purpose-driven and contribute to the UN Sustainable Development Goals. Women-owned or women-led businesses are particularly encouraged, consistent with C4D Partners' gender-lens investing mandate. There is no publicly stated restriction on sector, though the fund has a strong preference for businesses operating in financial inclusion, skilling, climate, waste management, and similar impact sectors in India.

How it's scored

Investment decisions are driven by three major factors: (1) livelihood impact — the degree to which the business generates better livelihoods for underserved communities and enables inclusive economic development; (2) climate impact — whether the business addresses climatic challenges and contributes to sustainable development goals; and (3) gender — the extent to which the business incorporates or is open to adopting a gender strategy. Financial viability and the ability to deliver risk-adjusted market-rate returns are also considered. The fund also assesses alignment with the UN SDGs and the overall ESG focus of the business.

Key requirements

• ✓Registered SME or growing business operating in India
• ✓Demonstrated meaningful impact through business model aligned with climate action, livelihood for underserved communities, and/or gender equity
• ✓Scalability and growth potential to attract impact investment capital

Recent past awardees

Knowing who's won the last rounds tells you whether you're in the strike zone.

• Ananya Finance
• LabourNet
• Green Rebel
• Saahas Zero Waste
• Mirakle Couriers
• Freyr Energy
• 1Bridge
• Arohan Foods

Funder contact

The notice names a programme contact you can speak to before applying.

Frequently asked questions

How much funding does Capital 4 Development Partners BV offer?

C4D Bharat Shubharambh Fund offers up to $75M.

Who can apply for C4D Bharat Shubharambh Fund?

Eligibility covers organisations in IN; sme, startup, social-enterprise. See the eligibility criteria above for the full conditions.

Relevant sectors

About this sector

Climate adaptation funding helps communities, infrastructure and businesses prepare for heat, flooding, drought and sea level rise. Most of it is public and multilateral money, often targeted at vulnerable regions and delivered with local government. Calls usually ask for a climate risk assessment and evidence that local people shaped the plan.