British development finance body makes significant equity commitment to UC Impower Fund

British International Investment (BII), the United Kingdom’s development finance institution, has injected Rs 90 crore into the India-focused UC Impower Fund, marking the largest single commitment to the early growth-stage equity vehicle since its launch. The fund, with a target size of Rs 500 crore, supports companies in financial services and climate solutions. BII’s investment positions it as a key backer and is expected to enhance the fund’s capacity to support emerging firms. UC Impower, incubated by Unitus Capital in 2023, has secured roughly Rs 435 crore in commitments so far and plans to build a portfolio of around 10 to 11 firms. Existing investors include the Michael & Susan Dell Foundation, Sorenson Impact Foundation, Caspian Impact Investment Adviser and LifeBank Microfinance Foundation. BII has signalled a strong focus on deepening its presence in India with backing for initiatives that aim to expand access to capital for underserved segments.