Our Offerings / Social Impact Fund
Scale Your Philanthropy Through a Professionally Managed Impact Fund
Pool your philanthropic funds with like-minded donors and support curated, verified, and impact-linked social opportunities through a professionally managed structure.
The Challenge
Private philanthropy in India is growing, but donors often face structural barriers that make giving less effective. They may not have access to curated non-profits, independent impact assessment, clear reporting, or innovative funding instruments that can multiply social impact.
- Limited access to verified nonprofit opportunities
- Trust deficit due to unclear impact reporting
- Need for stronger governance and due diligence
- Limited awareness of social finance instruments such as ZCZP, outcome-
based financing, and social impact bonds
About SDG Diversified Fund Series 1
Fund Type – SEBI Registered Category 1 AIF
Fund Size – ₹20 crore
Focus Areas
- Emerging sectors
- Scalable projects
- Worthy but underfunded organisations
Current Status – Open for Investment
Ready to invest?
Speak with our team to understand the fund structure, minimums, and how the SIF fits your philanthropic goals.
This is Ideal If
You want to channelise philanthropic funds into carefully curated social impact opportunities
You want your giving to be managed through a structured financial tool.
You want to support credible, high-potential social sector organisations.
You want periodic reporting on fund deployment,
outcomes, and impact.
Set up and Governance
SEBI-regulated Category I Alternative Investment Fund structure
Professionally managed by Seva Tarang Foundation
Governed by an independent and expert Advisory Board and Investment Committee
Regular compliance, reporting, and impact disclosures
Frequently Asked Questions
What is a SEBI-regulated Alternative Investment Fund (AIF) Category I?
A SEBI-regulated Alternative Investment Fund (AIF) Category I is a close-ended investment vehicle that channels capital into sectors or activities considered socially or economically desirable by regulators and is subject to SEBI’s AIF regulations and investor-protection requirements.
What is the minimum investment in the Social Impact Fund?
The minimum investment differs for different funds. Pls contact us for more details.
What returns and risks should investors expect?
This is an impact-only fund with no financial returns. Investors should expect a portfolio where social returns are demonstrated as impact created. Risk factors include operational execution by investees, measurement/verificat on of outcomes, regulatory changes, and liquidity constraints inherent in AIFCategory I instruments.
Seva Nivesh manages risk through due diligence, diversified allocation across instruments and sectors, active portfolio support, and third-party outcome verification.
How is social impact measured, verified, and reported?
The fund uses a Results Framework for each intervention with clear, time-bound indicators, baselines, and target milestones aligned to recognised standards.
Investors receive regular reporting and impact dashboards with verified outcome progress, and an annual audited impact and financial report.
How does the fund ensure regulatory compliance for statute-driven capital?
As a SEBI-registered AIF Category I, the fund adheres to SEBI AIF regulations on governance, disclosures, and investor eligibility.
Governance safeguards include independent trustees/board oversight, conflict-of-interest policies, transparent fee structures, and third-party audits of financials and impact verification.
Glossary
Alternative Investment Fund
Alternative Investment Fund – a SEBI-regulated private pooled investment vehicle that collects funds from sophisticated investors for investing in accordance with a defined investment policy.
Category I Alternative Investment Fund
AIF subcategory that invests in sectors with positive social spillovers – including social impact funds, SME funds, and infrastructure funds – attracting specific SEBI incentives
ZCZP
Zero Coupon Zero Principal –
instruments issued by NPOs on the SSE. Investors receive no financial return; all returns are social outcomes, reported and audited annually
Social Impact Assessment
An independent audit of the social outcomes generated by an NPO – required before investment and annually thereafter.
Outcome-based Financing
A financing structure where
payments to an NPO are tied to the achievement of pre-agreed social outcomes, ensuring accountability.
Social Impact Bond
A contract where an investor funds a social programme; government or a donor repays if agreed social outcomes are achieved.
Corpus
The total pool of capital committed to the fund by all investors – deployed over time into qualifying social impact opportunities
Our Team
Ajay Sathe is a Qualified Chartered Accountant, Cost & Management Accountant, and an MBA (Honours) from the European School of Management and Technology (ESMT), Berlin, Germany. With over 26 years of leadership experience at the Bajaj Group, he has held key roles across finance, IT, strategy, risk management, customer experience, and CSR. As Group Head – Customer Experience and CSR until his retirement in 2023, he led the CSR portfolios of the Group’s financial services companies, overseeing partnerships with nearly 300 implementing organizations across skilling, education, healthcare, and disability sectors. He is now working with few social organisations, across sectors and advises social organizations on finance, governance, risk management, and sustainability.
Mr. Girish Sohani, an alumnus of IIT Bombay and IIM Ahmedabad, is a distinguished development professional with over four decades of experience in natural resource management and rural livelihoods. He has dedicated his career to BAIF Development Research Foundation, where he played a key role in strengthening sustainable livelihoods, rural agribusiness, renewable energy, irrigation, and Farmer Producer Organizations. He was instrumental in transforming BAIF into a leading multi-sectoral development institution. Mr. Sohani has served on expert committees of the Central and State Governments, NABARD, and international agencies, and continues to serve on the governing boards of several development organizations. His contributions have been recognised globally, including France’s prestigious Commander in the Order of Agricultural Merit.
Mr. B.S. Nagesh is the Founder of TRRAIN (Trust for Retailers and Retail Associates of India), a not-for-profit organisation dedicated to empowering people in retail by improving their lives at work and at home. A pioneer of India’s modern retail industry, he was the first employee of Shoppers Stop in 1991 and served as its Chairman until July 2025, playing a defining role in building one of India’s leading retail chains. In 2009, he transitioned from executive leadership to establish TRRAIN, driven by his philosophy of “25 years of learning, 25 years of earning, and 25 years of returning.” A World Retail Hall of Fame inductee, Ashoka Fellow, Helen Keller Award recipient, and author of SERVE (2024), he continues to champion inclusive and purpose-driven leadership.
Bharat Balkrishna Phatak is a Fellow Chartered Accountant (FCA), Certified Financial Planner (CFP), and Advisory Board Member at Scripbox Wealth Managers Private Limited. With over 40 years of experience in wealth management, investment advisory, taxation, and financial consulting, he is widely respected for his prudent, client-centric approach to wealth creation. As co-founder of Wealth Managers (India) Private Limited, he played a pivotal role in building a trusted advisory practice that now manages assets exceeding ₹20,000 crore following its merger with Scripbox Wealth Managers. A distinguished academic achiever, he has consistently excelled at the national level and is a sought-after speaker on finance, investments, and public policy.
Mr. Girish Sohani, an alumnus of IIT Bombay and IIM Ahmedabad, is a distinguished development professional with over four decades of experience in natural resource management and rural livelihoods. He has dedicated his career to BAIF Development Research Foundation, where he played a key role in strengthening sustainable livelihoods, rural agribusiness, renewable energy, irrigation, and Farmer Producer Organizations. He was instrumental in transforming BAIF into a leading multi-sectoral development institution. Mr. Sohani has served on expert committees of the Central and State Governments, NABARD, and international agencies, and continues to serve on the governing boards of several development organizations. His contributions have been recognised globally, including France’s prestigious Commander in the Order of Agricultural Merit.
Priya is the Founder and CEO of Samhita, a prosperity accelerator, alliance builder, and home to India’s largest CSR and FCRA-compliant blended finance facility. She holds advanced degrees from Yale, the University of Michigan, and Mumbai University, and completed Executive Education at Harvard Business School. Under her leadership, Samhita has partnered with over 600 companies, government bodies, financial institutions, philanthropies, NGOs, and social enterprises to deliver large-scale social impact. Through Samhita and its nonprofit arm, CGF, more than 17 million lives have been impacted, with a mission to double the incomes of 10 million workers, farmers, and entrepreneurs, particularly women. Previously, Priya co-founded The Spark Group and held roles at the International Finance Corporation, MIT’s Poverty Action Lab, and Arthur Andersen.
Abizer Diwanji is a rank-holding Chartered Accountant with a Bachelor’s degree in Commerce and over a decade of experience in financial services, restructuring, and regulatory advisory. He was a Partner leading the Financial Services and Restructuring Practice in India, having joined the firm in 2013 and worked from its Mumbai office. In June 2024, he stepped down from the partnership to pursue new ventures through NeoStrat, serve on corporate boards, and focus on learning and strategic advisory. He has been a member of various committees constituted by the RBI, MCA, and SEBI, and was recognized by Finance Outlook among the “10 Most Promising Restructuring & Insolvency Consultants – 2026.”
Dr. Anand Deshpande is the Founder, Chairman and Managing Director of Persistent Systems and one of India’s pioneering technology entrepreneurs. Over the past three decades, he has transformed Persistent into a globally recognised digital engineering company while advancing India’s technology and innovation ecosystem. An IIT Kharagpur alumnus with M.S. and Ph.D. degrees from Indiana University, he is widely respected for his contributions to engineering, entrepreneurship and institution building. Beyond business, he actively supports research, higher education, healthcare and social impact through leadership roles in national institutions and philanthropic initiatives, including Persistent Foundation and deAsra Foundation. His work continues to shape innovation-driven, inclusive and sustainable development.
Name of the AIF: Social Investment Trust (Category I Social Impact Fund)
SEBI Registration Number : IN/AIF1/26-27/2252
Name of the Fund Manager : Socap Investment Managers Pvt. Ltd.
SCORES ID: aifn00914
Name and contact of the compliance officer : Aruna Tandale | aruna@sevatarang.org