Aavishkaar Venture Management Services, a venture capital firm focused on India’s rural areas, has announced the final close of Aavishkaar India II Company, a venture capital fund that targets India’s low-income states, at US$94 million. The fund, which held a first close in September 2011 at US$70 million, has already made seven investments in early-stage enterprises across sectors including agriculture, education and renewable energy. Institutional investors in the fund include KFW, Impact Investment Trust, International Finance Corporation, CDC, FMO, Cisco and Rianta Capital.