Proparco is the private-sector arm of the Agence Française de Développement (AFD) Group, France's public development bank. Its mandate is to finance businesses and financial institutions across Africa, Asia, Latin America, Eurasia and the Middle East that advance the UN Sustainable Development Goals, organised around three impact objectives: building a sustainable and resilient economy, protecting the planet, and reducing inequalities. It is a founding member of the 2X Challenge, the G7 DFI initiative to mobilise capital for women's economic empowerment.
Proparco deploys loans, equity, guarantees and technical assistance, with sector expertise concentrated in infrastructure, renewable energy, agribusiness, financial institutions, health and education. It invests both directly in companies and as a fund-of-funds investor in emerging-market private equity and venture funds. According to the institution's chief executive, its equity portfolio is valued at between €1.5 billion and €1.7 billion, with a strategy target of €450 million in annual equity activity, alongside €30–€40 million a year channelled to venture capital directly.
The scale is considerable: Proparco's official review reports a balance sheet of €9.1 billion at 31 December 2025, a loan and investment portfolio of €8.4 billion, total signings of €2.5 billion in 2025 across 115 countries of intervention, more than 200 projects signed in 2024, and 26 local and regional offices staffed by over 550 people. The institution keeps an office in New Delhi, which anchors its South Asia work.
In India, Proparco's activity leans heavily toward financial inclusion and climate-aligned agriculture, typically writing patient tickets into funds and lenders. In January 2024 it committed USD 15 million in equity to Lighthouse India Fund IV AIF, the growth-stage private equity fund targeting Indian consumer businesses and healthcare, aligning the deal with 2X gender criteria. In June 2024 it made its first India venture-capital commitment: USD 5 million in Omnivore Agritech & Climate Sustainability Fund III, a USD 215 million fund backing startups in farmer platforms and fintech, precision agriculture, B2B agri marketplaces, life sciences and post-harvest technology. Proparco has also partnered with Incofin Investment Management on its India-focused fund strategy for financial inclusion and the agri-food value chain.
On the debt side, Proparco invested USD 25 million in Northern Arc Capital, the microfinance and small-business lender, supporting an estimated 21,000 micro-borrowers with a portion earmarked for women entrepreneurs. It also extended USD 15 million in debt to Mumbai-based Svatantra Microfin, the rural microfinance institution promoted by Ananya Birla that serves more than 3 million rural customers across 19 states, and has previously backed other Indian microfinance institutions including Annapurna Finance and Sonata Finance.
Leadership sits with chief executive Françoise Lombard, who has positioned Proparco as a patient-capital counterweight to short-term finance in emerging markets. South Asia regional coverage is directed from the New Delhi office under Proparco's regional director for South Asia.
Why it matters for founders
Proparco is patient, impact-aligned capital with real presence on the ground in India: if you are building in financial inclusion, agritech, climate or health with measurable development outcomes, it can write cheques both directly and as an LP into your VC fund. The Omnivore commitment shows it is actively adding India venture funds to its portfolio — making it a credible anchor for emerging managers raising in these themes.