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Norway wealth fund to seek more women on company boards in India, other emerging markets

VCCircle

VCCircle · 1y ago

Norway wealth fund to seek more women on company boards in India, other emerging markets

Norway's sovereign wealth fund, the world's largest, plans to push for more women on corporate boards in emerging markets, including India and Brazil. The $1.6 trillion fund, which already advocated for gender diversity in companies in Europe, the US, and Japan, aims to apply its policy globally. The fund's updated voting guidelines state that if a company in an emerging market does not have at least one director from each gender, the fund will vote against the chair of the nomination committee or the chair of the board at the annual general meeting. The policy may impact companies such as Ooredoo, ESSA, and Hidrovias do Brasil, which currently have no female directors.

Related News

More women running startups, on company boards: Nirmala Sitharaman

Economic Times

Economic Times · 1y ago

More women running startups, on company boards: Nirmala Sitharaman

Women in India are increasingly taking up leadership positions in startups and company boards, according to finance minister Nirmala Sitharaman. She stated that the percentage of women on boards has increased from 13.8% in 2018 to 18.3% currently. The government has implemented women-centric policies, such as allocating 80% of funds under the Stand Up India Scheme to women and earmarking 10% of Sidbi's fund of funds for women-led startups. Swiggy, a food delivery platform, has also launched the 'She the Change' initiative to celebrate women entrepreneurship.

Nirmala Sitharaman Backs Women Entrepreneurs, Says More Of Them Reaching Company Boards

Inc42 · 1y ago

Nirmala Sitharaman Backs Women Entrepreneurs, Says More Of Them Reaching Company Boards

Finance Minister Nirmala Sitharaman has stated that women in India are not only running startups but also occupying more positions on company boards. The representation of women on company boards has increased from 13.8% in 2018 to 18.3% today. Sitharaman also highlighted that 80% of funds under the Stand Up India Scheme have been directed towards women, and 70% of the loans sanctioned under the PM Mudra Scheme have been allocated to women. Additionally, Swiggy, the food delivery platform, has launched an initiative called 'She the Change' to recognize and support women's entrepreneurship in the food industry.

Women-focused asset manager Cinnamon Wealth set to float debut private credit fund

VCCircle

VCCircle · 7m ago

Women-focused asset manager Cinnamon Wealth set to float debut private credit fund

Women-focused asset manager, Cinnamon Wealth, plans to launch its inaugural private credit fund in January next year. The fund, called Women Enterprisers Fund, will primarily invest in small and medium-sized enterprises owned, co-owned, or led by women. Cinnamon Wealth aims to contribute to the growth and development of women-owned businesses through this fund.

Still afloat: The anti-DEI wave hasn’t swept women CEOs aside

Livemint

Livemint · 22d ago

Still afloat: The anti-DEI wave hasn’t swept women CEOs aside

Despite political resistance to diversity, equity, and inclusion (DEI) policies in the U.S., the number of women CEOs has grown. Diverse corporate boards are more likely to appoint women to top roles. However, progress is slow, and attacks on DEI initiatives pose a challenge to advancing women's presence in the boardroom and executive positions. The decline in appointing women to boards over the past two years suggests delays in achieving gender parity in leadership.

Here Are The Key Principles That Women Entrepreneurs Follow

Inc42 · 1y ago

Here Are The Key Principles That Women Entrepreneurs Follow

Fortune 500 companies with more women on their boards experienced significantly stronger financial performance. Research by McKinsey & Company shows that companies with more women in leadership tend to have a 21% higher chance of achieving above-average profitability. Catalyst's study also found that these companies had a 66% higher return on invested capital and a 53% higher return on equity. Women leaders bring valuable contributions to business success, and their unique strengths, such as empathy and collaboration, create positive work environments that drive innovation and productivity. Empowering women in business benefits everyone and leads to a more diverse and successful business ecosystem.

GetVantage launches Rs 100 crore fund for women entrepreneurs

Business Today

Business Today · 1y ago

GetVantage launches Rs 100 crore fund for women entrepreneurs

Indian fintech platform GetVantage has launched a Rs 100 crore ($13.5m) fund to support women entrepreneurs. The Rise-Up Fund aims to help over 400 women-led businesses scale up over the next year. GetVantage will disburse the funds through its own non-banking financial company, GetGrowth Capital, in addition to partnerships with other NBFCs and AIFs. The move comes as analysis reveals women-led businesses in India faced an unmet credit gap of more than $11.4bn, and female founders received just 4.5% of $6.6bn in funding investments over the past nine months.

India among global fintech hotspots, says World Economic Forum study

YourStory

YourStory · 22d ago

India among global fintech hotspots, says World Economic Forum study

India is recognized as a global fintech hotspot alongside the US and the UK, according to a World Economic Forum study. The report highlights India's role in enhancing financial access in emerging markets, despite a post-pandemic slowdown. The study identifies key fintech hubs, including India, hosting over 10 firms each. Fintechs are increasing financial inclusion, with significant customer growth among traditionally underserved groups like MSMEs, low-income individuals, and women, especially in emerging markets.

GetVantage Floats $12 Mn Fund To Back Women Entrepreneurs

Inc42 · 1y ago

GetVantage Floats $12 Mn Fund To Back Women Entrepreneurs

Revenue-based financing platform GetVantage has launched a new fund called Rise-Up to support women entrepreneurs and businesses. With an initial corpus of INR 100 Cr ($12 million), the fund aims to support over 400 women-led businesses within the next year. GetVantage will disburse the funds through its own NBFC GetGrowth Capital, along with partnerships with Varanium's Debt Fund and other NBFCs and AIFs. The company claims that over 40% of its business portfolio is led by women entrepreneurs. This initiative comes amidst a surge in women-focused funds in India.

LeapFrog's Mohandas on plans to tap into Indian healthcare sector and more

VCCircle

VCCircle · 11m ago

LeapFrog's Mohandas on plans to tap into Indian healthcare sector and more

LeapFrog Investments is a private equity firm focused on emerging markets and global sustainability. The company is close to completing its $1 billion fourth consumer fund and has extended the timeline for its Emerging Consumer Fund IV. This fund has received support from investors such as Temasek. LeapFrog is also planning to tap into the Indian healthcare sector as part of its investment strategy. The firm aims to create sustainable and impactful businesses that serve the needs of consumers in emerging markets.

US drug price policy may raise costs for India, GTRI warns

Inshorts · 2m ago

US drug price policy may raise costs for India, GTRI warns

The US push to cut drug prices via a 'Most-Favoured Nation' policy may shift financial burdens to emerging markets like India, warns GTRI. Pharmaceutical giants could seek higher prices and stricter IP protections in India to offset losses. Experts urge India to resist TRIPS-plus trade demands and protect its low-cost generics model vital to global health access.

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