SEDF created the Aspada holding company in 2013 to provide seed and early-stage patient capital to Indian SMEs that provide jobs, improve livelihoods and deliver essential goods and services (food supply chains, healthcare, education, financial services) to address critical needs of poor and low-income people. In 2021, SEDF sold a controlling interest to Lightstone, the international private banking and asset management group owned by Liechtenstein.