Acumen was founded in 2001 by Jacqueline Novogratz. She used funds from Rockefeller Foundation, Cisco Systems Foundation, and philanthropists. Acumen is a non-profit venture fund in New York. Acumen invests in Companies providing services and products to people earning low wages. It invests in education, agriculture, energy, housing, water sanitation and healthcare. The global offices are in Accra, Karachi, Mumbai, Nairobi, and New York. The motto of Acumen is to consider the full global community. The team includes the Board, Staff, Advisors, and Partners. The main goal of Acumen is to provide support for the poor. Acumen’s generosity brings respect and integrity to people socially not well placed. The Company invested over $100 million globally.
Acumen began working in India from 2006. The director of Acumen India, Ajit Mahadevan has claimed that the social investor would be raising funds focussed on India. Acumen is hoping to improve Indian dairy –methods, agriculture, housing, energy, and others. Acumen would raise funds for India from Corporate Partnership. India has made maximum investments of around $32 million. Acumen supports pre-school chains like Hippocampus Learning Centres. Other education supports are start-ups Login Careers and Standard of Excellence in Education and Development.
Two years ago, in India, Acumen made an Ayurvedic chain and Ayur Vaid Hospitals in Kochi. Others include the LifeSpring Hospitals in Hyderabad, the Dial 1298 For Ambulance in Mumbai. Acumen helped to connect people through rural communication Company called Drishtee. Acumen’s philosophy is to invest only in businesses are beneficial to the society.
Acumen never invests in the idea stage and does not support technology. Acumen rather supports agriculture and nutrition in India. Acumen usually invests in between $500K to $2 million in Companies supporting needy people. In 2016, Acumen invested in three Companies but last year it had invested in seven. Acumen invested in Mumbai’s honey producers called Under the Mango Tree Naturals and Organics Pvt. Ltd. A vocational training services provider to low-income youth EduBridge Learning Pvt. Ltd. An existing Bangalore’s LabourNet Services India Pvt. Ltd. LabourNet Services India Pvt. Ltd. provides work and training to integrated workers for construction manufacturing and others.
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