ANAROCK Capital did not respond to concerns about ApnaComplex, a startup it is investing in
On 24 August 2023, the Business & Human Rights Resource Centre invited Anarock Capital to respond to the concerns that a company it is investing in, ApnaComplex, has not taken sufficient measures to ensure that its products are not improperly used to facilitate surveillance and harassment of vulnerable groups, who in this case are domestic workers.
As stated in the United Nations Guiding Principles on Business & Human Rights, investors have a responsibility to use their leverage to ensure that those with whom they have business relationships, including portfolio companies, respect human rights. While Shajai Jacob, managing director and country head of ApnaComplex, has commented that the technology “is helpful to one spectrum of the users of the app and not to the other,” further information is needed regarding how ApaComplex is working to address the issue. We invited ANAROCK Capital to share with us any steps the investor has taken to ensure greater accountability from the aforementioned company.