In a groundbreaking development, Caspian Debt, a leading provider of catalytic debt to professionally managed small and mid-market companies and startups, has been honored with the coveted 2X Flagship Fund status.
This prestigious recognition comes from the esteemed 2X Flagship Fund Committee, and it solidifies Caspian Debt's commitment to gender-smart investing and financial inclusivity.
The remarkable journey to the 2X Flagship Fund status began with the endorsement of Caspian Debt's candidature by its steadfast investors, Nederlandse Financieringsmaatschappij Voor Ontwikkelingslanden N.V. (FMO) and the United States International Development Finance Corporation (DFC).
These endorsements were based on Caspian Debt's exceptional three-year track record of exceeding investment commitments to 2X qualified companies and, notably, on the gender diversity within its team.
As a 2X Flagship Fund recipient, Caspian Debt has initiated a groundbreaking Memorandum of Understanding (MoU) with FMO and DFC. This partnership aims to accelerate efforts in closing the gender finance gap and promoting gender-smart investing.
Together, these organizations are committed to championing gender balance and inclusivity within the financial sector.
Caspian Debt's selection as a 2X Flagship Fund is a testament to its unwavering dedication to advancing women's economic empowerment through gender lens financing and fostering gender balance within its own ranks.
Notably, in FY-23, Caspian Debt not only fulfilled but exceeded the requirements of the 2X fund status by an impressive 170%. Over 50% of the companies in Caspian Debt's portfolio met the stringent 2X criteria.
This commitment to gender-smart investing is further underscored by the company's workforce, where women constitute 40% of total employees and hold an impressive 50% of senior management positions.
Caspian Debt actively participates in various training programs aimed at promoting gender-smart investing and addressing unconscious bias.
Mr. Avishek Gupta, the Managing Director and Chief Executive Officer of Caspian Debt, expressed his pride in achieving the 2X Flagship Fund status, stating, "We are proud to be selected as the 2X Flagship Fund, which strengthens our commitment to gender-smart investments.
Funding with a gender lens requires a deliberate approach, integrating gender sensitivity throughout the investment process, from sourcing to evaluation, documentation, and disbursements.
We have always been intentional about our approach and will continue to honor our commitments. Through the MoU with FMO and DFC, we have joined forces to not only commit to continued gender-smart investing but also to drive more gender-equitable growth."
Jaap Reinking, Director of Private Equity at FMO, also emphasized their commitment to gender lens investments, stating, "In our 2030 Strategy, FMO is committed to increasing gender lens investments as a means of driving our ambitions on SDG 10, Reduced Inequalities.
We are proud to partner with Caspian Debt, whose record on women's economic empowerment and efforts to demonstrate the commercial and social benefits of valuing women have now also been recognized by selection as a 2X Flagship Fund."
The 2X Challenge, a pioneering multilateral initiative, aims to deploy and mobilize unprecedented capital to support funds that empower women as entrepreneurs, business leaders, employees, and consumers.
Under this initiative, the 2X Flagship Fund status is reserved for gender-smart funds whose managers make ambitious commitments to gender targets at both the fund and portfolio levels. These Flagship Funds receive special recognition from an independent committee of industry leaders.
Caspian Debt's approval as a 2X Flagship Fund in the Catalyst Tier is a testament to its significant commitment to commercially rigorous investing with a gender lens using the 2X criteria.
This recognition positions Caspian Debt as a trailblazer in fostering financial inclusivity and gender equality within the world of finance.
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