Cisco on Wednesday announced an investment in Aavishkaar, a venture fund founded to promote development in rural and semi-urban India.

Cisco will invest in Aavishkaar India II Company Ltd. (Aavishkaar II) and will collaborate with other investors to drive sustainable business models with social impact that utilize the power of the network. Working with Aavishkaar, Cisco aims to take advantage of its expertise and promote technology-enabled inclusive growth in the area of social entrepreneurship.

Over the past few years Cisco has committed up to US$200 million of venture capital investments to the country, of which almost half has been utilized.

Its direct investments in the region cover a broad spectrum of technology-related investments which are complementary to the growing scale and reach of the investments Aavishkaar will make in rural transformation. 

Edzard Overbeek, president, Cisco Asia Pacific, Japan and Greater China, said,  ". Investing in community-oriented initiatives such as Aavishkaar enables to positively impact economic and social development in the country."

"Aavishkaar''s long track record of working with early stage entrepreneurs and keen understanding of rural India may allow Cisco to improve its intervention strategy in rural India", Vineet Rai, founder and managing partner at Aavishkaar.