Our Work

“Lok” means “People”. Simply put, our mission is to make capital markets work for all people.

Lok Capital is a pioneering India-focused investment firm established in 2004. We have generated above market returns via investments into innovative tech-enabled enterprises addressing social and environmental challenges at scale.

 

Our Focus

Finance

Health

Climate

Agri/Food & Beverages

 

Lok Capital has a proven track record across funds of three vintages (2006, 2011, 2016) and is currently investing from its fourth fund into financial inclusion, fin-tech, health-tech, food & agri- tech and climate-tech & sustainability solutions

 
 

Our Values

Our value system – with people as its centre point – forms the bedrock of everything we do

 

Investment approach

  • Where do we invest?

    Early to growth stage investments into fast growing, high impact and tech-enabled business models in financial services, healthcare, food & agriculture, and climate & sustainability solutions in India. Lok strives to build companies that go beyond the binary of financial gains and societal impact.

  • How much do we invest?

    Ticket sizes range from USD 3-18 million. Smaller tickets for fin-tech, agri-tech, health-tech, and climate/sustainability. Larger tickets for financial services.

  • When do we come in?

    Typically, Series A to C. Lok plays the role of the first PE-style growth investor on the cap table. Investments are made once product market fit is established, with proven revenue traction and a clear path to profitability.

  • What do we look for?

    High-quality entrepreneurs with experience in execution, aiming to build enduring businesses sustainably, rooted in transparency and collaboration.

    Business models with an embedded impact generating outcome.

    Good governance systems (compliance, reporting, transparency) with a focus on risk management.

    Systems with a strong technological backbone in operations and delivery.

  • Our evaluation/portfolio management approach (value add)

    Significant field visits and conversations with stakeholders on the ground, a relationship-driven approach to understand contextual nuances and value creation opportunities.

    Impact, ESG, and climate risk management frameworks deeply embedded into the investment management process.

    NPS: Lok has an NPS of 82 amongst past investees, with 80% founders reporting that Lok has improved the value and 90% reporting that Lok has improved impact.

ESG

To achieve inclusion in a holistic manner, we understand that environmental, social and governance aspects need to be integrated in businesses. We are committed to conduct business in a sustainable, fair, transparent and responsible manner to overcome adverse risks and add value to our investments. Our ESG policy may be accessed here.

Evolution of Lok Capital

2004
May
Lok Capital was founded
2006
May
Lok I: USD 22 MN
2010
June
Lok II: USD 64 MN
2016
August
Lok III: USD 105 MN
2022
Lok IV: USD 180 MN target; second close of USD 135 MN in May 23
 
 

Our Investors

Lok enjoys long standing relationships with a range of institutional investors including development financial institutions, private asset managers, insurance companies and reputed family offices. In addition to partnering with us in successive funds, our LPs have co-invested extensively in our portfolio companies helping provide visibility on capital to portfolio capital well into their late/ pre- IPO stages. Lok invites any institution that wishes to increase exposure to India, seeks best in class returns and is motivated by impact objectives.

 
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