Caspian Debt, a catalyst for debt provision to professionally managed small and mid-market companies and startups, has achieved the prestigious 2X Flagship Fund status, awarded by the 2X Flagship Fund Committee. This recognition comes as a result of Caspian Debt’s outstanding track record in exceeding investment commitments to 2X qualified companies over the past three years and its dedication to gender diversity within its team.
The candidature for the 2X Flagship Fund status was proposed by Caspian Debt’s existing investors, Nederlandse Financieringsmaatschappij Voor Ontwikkelingslanden N.V. (FMO) and the United States International Development Finance Corporation (DFC). This recognition underscores the company’s commitment to furthering gender-smart investing and advancing gender balance within the financial sector.
As a 2X Flagship Fund, Caspian Debt has entered into a Memorandum of Understanding (MoU) with FMO and DFC to accelerate its efforts in reducing the gender finance gap. The collaborative partnership will promote gender-smart investing, emphasizing a shared commitment to fostering gender balance and inclusivity in finance.
Caspian Debt’s selection as a 2X Flagship Fund highlights its significant contributions to women’s economic empowerment through gender lens financing and its commitment to gender balance within its workforce. In the fiscal year 2023, the company exceeded the criteria required for 2X fund status by an impressive 170%, with over 50% of its portfolio companies meeting the 2X criteria. Furthermore, women comprise 40% of Caspian Debt’s total employees, and they hold 50% of senior management positions. The company actively participates in various training programs, including those centered around gender-smart investing and addressing unconscious bias.
Mr. Avishek Gupta, Managing Director and Chief Executive Officer of Caspian Debt, expressed pride in being selected as the 2X Flagship Fund, reinforcing the company’s commitment to gender-smart investments. He emphasized the deliberate approach required for funding with a gender lens, which involves integrating gender sensitivity throughout the investment process.
Jaap Reinking, Director, Private Equity at FMO, highlighted FMO’s commitment to increasing gender lens investments as part of its 2030 Strategy. He praised Caspian Debt for its record in women’s economic empowerment and its efforts to demonstrate the commercial and social benefits of valuing women.
The 2X Challenge, a multilateral initiative, aims to mobilize substantial capital to support funds that empower women in various roles, including entrepreneurs, business leaders, employees, and consumers. The 2X Flagship Fund status acknowledges funds that make ambitious commitments to gender targets at both the fund and portfolio levels. Caspian Debt’s approval as a 2X Flagship Fund in the Catalyst Tier reflects its substantial commitment to gender-focused investing based on the 2X criteria.
