Category: Investment Funds

MICROCAPITAL BRIEF: India’s Ujjivan Financial Services Raises Debt Capital Worth $10m Through Issuance of Non-Convertible Debentures (NCDs) to International Finance Corporation (IFC)

Ujjivan Financial Services, an Indian microfinance institution (MFI), has raised INR 60 crores (USD 10 million) debt capital by issuing listed, secured and redeemable non-convertible debentures (NCDs) to the International Finance Corporation (IFC), the private-investment arm of the World Bank Group. Continue reading

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MICROCAPITAL BRIEF: Canada to Support Nigerian Private Sector in Effort to Increase Job, Entrepreneurial Opportunities for Youth in Cross River State

A Senator representing Ontario, Canada, recently announced on behalf of Christian Paradis, the country’s Minister of International Development and La Francophonie, that the government of Canada will be providing unspecified financial support to “a new project that will increase job opportunities and promote entrepreneurship among young people in Nigeria.” Continue reading

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MICROCAPITAL BRIEF: responsAbility Loans $13m to Microfinance Institution FONDEP of Morrocco

ResponsAbility Investments, a company based in Zurich that primarily invests in developing economies, recently notified MicroCapital that is has disbursed EUR 10 million (USD 13 million) in senior refinancing to Fondation pour le Développement Local et le Partenariat Micro-Crédit (FONDEP), a Moroccan MFI with the mission “to use microcredit to help women and youth create their own microenterprises and generate income .” Continue reading

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MICROCAPITAL BRIEF: Suryoday Micro Finance of India Raises $4.5m in Equity from International Finance Corporation (IFC), Aavishkaar Goodwell, Lok Capital

Suryoday Micro Finance Private Limited, an Indian microfinance institution (MFI), recently received an equity infusion totalling INR 270 million (USD 4.5 million) from three investors: INR 150 million (USD 2.5 million) from the International Finance Corporation (IFC), the private-investment arm of the World Bank Group, and INR 62 million (USD 1 million) each from Aavishkaar Goodwell, a for-profit Indian-Dutch joint venture promoting economic development, and Lok Capital, a Mauritius-based venture fund focused on microfinance and other social businesses in India [1] [2]. Continue reading

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MICROCAPITAL BRIEF: SME Bank Receives $58m from Government of Namibia to Expand to all 14 Regions of Country

SME Bank, which was founded by the government of Namibia in 2012, is preparing to receive NAD 630 million (USD 58.7 million) in non-reimbursable funding from the government of Namibia to expand its operations to all 14 regions of the country, with the intention of fueling growth among the small and medium-sized enterprises.

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MICROFINANCE PAPER WRAP-UP: “Invest. Catalyze. Mainstream. The Indian Impact Investing Story;” by Nisha Dutt, Usha Ganesh, Prashant Chandrasekaran, Payal Agarwal, Samved Patil, Ankit Gupta; Published by Intellecap

“Invest. Catalyze. Mainstream. The Indian Impact Investing Story;” by Nisha Dutt, Usha Ganesh, Prashant Chandrasekaran, Payal Agarwal, Samved Patil and Ankit Gupta; published by Intellecap, April 2014, 70 pages, available at http://intellecap.com/publications/invest-catalyze-mainstream-india-impact-investing-story

India is a major hub for impact investing – an investment approach that pursues financial returns while seeking social and environmental improvements in low-income communities. Continue reading

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MICROCAPITAL BRIEF: International Finance Corporation (IFC) Commits $15m to Private Equity Fund EuroMena III to Support Small, Medium-sized Enterprises (SMEs) in Middle East, North Africa

The International Finance Corporation (IFC), the private-investment arm of the World Bank Group, reportedly has committed USD 15 million to EuroMena III, a 7-year closed-end private equity fund that aims to invest in small and medium-sized enterprises (SMEs) in Egypt, Lebanon and Jordan. Continue reading

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MICROCAPITAL BRIEF: IFMR of India Receives Approval to Launch “FImpact Investment Fund”

The Securities and Exchange Board of India (SEBI) has approved the launch of the “IFMR FImpact Investment Fund” (IFMR FImpact), a social-venture scheme managed by IFMR Investment Managers Private Limited (IFMR Investments), the asset management arm of the Chennai-based, nonprofit IFMR Trust Group. Continue reading

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MICROCAPITAL BRIEF: MicroEnsure Raises $10m in Equity from International Finance Corporation, Omidyar Network, Opportunity International, Telenor Group; First-Time Investors AXA, Sanlam Emerging Markets

MicroEnsure, a UK-based, for-profit microinsurance company founded by US-based NGO Opportunity International, has announced that it has raised a total of USD 10.4 million from six investors including some of the company’s past investors: Opportunity International; the International Finance Corporation (IFC), the private-investment arm of the World Bank Group; Omidyar Network, a US-based social investment firm; and Telenor Group, a telecommunications company based in Norway. Continue reading

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MICROCAPITAL BRIEF: Luxembourg Fund Labeling Agency (LuxFLAG) Launches Environment, Social, Governance (ESG) Label to Certify Investment Vehicles

The Luxembourg Fund Labeling Agency (LuxFLAG), a nonprofit organization that certifies the operations of investment vehicles that support microfinance and environmental initiatives, recently began offering a third category of fund label for investment funds integrating Environment, Social and Governance (ESG) principles in their investment strategies. Continue reading

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MICROCAPITAL BRIEF: Luxembourg Fund Labeling Agency (LuxFLAG) Provides Environmental Label to Parvest Green Tigers Fund; Microfinance Label to EU Microfinance Platform, Symbiotics (SICAV) SEB Microfinance Fund

The Luxembourg Fund Labeling Agency (LuxFLAG), a nonprofit organization that certifies the operations of investment vehicles that promote microfinance and environmental initiatives, has approved an environmental label for Parvest Green Tiger Fund, an environmental investment vehicle (EIV) domiciled in Luxembourg, and microfinance labels for the EU Microfinance Platform Fund and Symbiotics (SICAV) SEB (Skandinaviska Enskilda Banken) Microfinance Fund, both microfinance investment vehicles (MIVs). Continue reading

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MICROCAPITAL BRIEF: Seven International Lending Institutions Launch Council on Smallholder Agricultural Finance (CSAF)

The Council on Smallholder Agricultural Finance (CSAF), an alliance focused on creating a sustainable financial market for small agricultural businesses, recently was launched by seven international lending institutions at the 11th Skoll World Forum on social entrepreneurship in Oxford, United Kingdom. Continue reading

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MICROCAPITAL BRIEF: Aavishkaar to Raise $75m for “Frontier Fund” to Invest in South, Southeast Asia

Aavishkaar, an Indian manager of impact-oriented venture capital investments, reportedly plans to raise USD 75 million for its newly launched Aavishkaar Frontier Fund, an international social venture capital fund that aims to place investments in 300 start-ups in various countries in South Asia and Southeast Asia including Bangladesh, Indonesia, Myanmar, Pakistan and Sri Lanka. Continue reading

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MICROCAPITAL BRIEF: Multilateral Investment Fund (MIF) Loans $6m to Peruvian Credit Unions Cooperativa de Ahorro y Crédito Abaco, Fortalecer

The Multilateral Investment Fund (MIF), a member of the US-based Inter-American Development Bank (IDB) Group, has disbursed loans to Peruvian credit unions Cooperativa de Ahorro y Crédito Abaco and Fortalecer to expand financial services via intermediaries, including other credit unions, private firms and non-governmental organizations (NGOs) that provide retail lending to rural clients. Continue reading

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MICROCAPITAL BRIEF: KfW, Belgian Investment Company for Developing Countries (BIO), Developpement International Desjardins, Lundin Foundation Commit $41m to AfricInvest Financial Sector Fund

AfricInvest-TunInvest Group, a Tunisia-based private equity firm, recently announced the closing of a third round of capital-raising for its AfricInvest Financial Sector Fund, a vehicle that invests in financial institutions that lend to small and medium-sized enterprises (SMEs) in North and Sub-Saharan Africa. Continue reading

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MICROCAPITAL BRIEF: Incofin Investment Management’s Rural Impulse Fund (RIF) Acquires 15% Equity Stake in Financiera El Comercio (FIELCO) From Accion Gateway Fund

Rural Impulse Fund II (RIF II), which is managed by Belgian microfinance fund manager Incofin Investment Management (Incofin IM), recently announced that it has acquired a 15.3-percent stake in Financiera El Comercio (FIELCO), a microfinance institution focused on rural and agricultural markets in Paraguay. Continue reading

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MICROCAPITAL BRIEF: Kenya Women’s Finance Trust (KWFT) Receives $16m in Equity Investments from Incofin’s Rural Impulse Fund II (RIF II), Norwegian Microfinance Initiative (NMI) Fund III, NMI Frontier Fund

Kenya Women’s Finance Trust (KWFT), a Kenyan microfinance institution (MFI) that was established in 1982, recently announced that it has received equity investments totaling KES 1.37 billion (USD 16 million) from three funds: a total of KES 692 million (USD 8 million) from the Norwegian Microfinance Initiative (NMI) Frontier Fund and NMI Fund III, with the remaining KES 692 million (USD 8 million) placed by the Rural Impulse Fund II (RIF II), which is managed by Belgian microfinance fund manager Incofin Investment Management (Incofin IM). Continue reading

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