Category: Investment Funds

MICROCAPITAL BRIEF: Symbiotics Issues $8.7m in Bonds to India’s Satin, $6.8m to Cambodia’s Prasac, $2.7m to MicroCred China

Symbiotics Group, a Swiss for-profit provider of microfinance-related and other investment services, recently issued impact bonds in the amount of USD 8.75 million to Satin, a microfinance institution based in Delhi, India; USD 6.78 million to Prasac, a  microfinance  institution offering financial services to people with low incomes in Cambodia; and USD 2.75 million to MicroCred China, a unit of France-based MicroCred Group. Continue reading

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MICROCAPITAL BRIEF: Accion Acquires 10% Stake in Peruvian Microfinance Institution (MFI) Credinka from Diviso Grupo Financiero

Accion, a US-based nonprofit organization, recently announced the acquisition of a 10-percent stake in Credinka, a microfinance institution (MFI) based in the Peruvian city of Cusco, from Diviso Grupo Financiero, a financial group that has been listed on the Lima Stock Exchange since 2007. Continue reading

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 MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) Commits $5m to Belarusian Minsk Transit Bank (MTB) for Onlending to Micro-, Small, Medium-Sized Enterprises (MSMEs)

The European Bank for Reconstruction and Development (EBRD), a UK-based multilateral financial institution that finances companies in countries that are transitioning to open market economies, recently agreed to commit a local-currency,  senior loan worth up to USD 5 million to Minsk Transit Bank (MTB), a government-backed bank in Belarus.  Continue reading

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MICROCAPITAL BRIEF: Franklin Templeton Investments Launches Financial Inclusion Drive in India

Franklin Templeton Investments India, the Indian division of a Us-based mutual fund company Franklin Templeton Investments, in partnership with the Security Exchange Board of India (SEBI), the regulator for the securities market in India, reportedly has launched a financial inclusion campaign aimed at enlightening people on the mutual funds industry in India’s Rangareddy district. Continue reading

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MICROCAPITAL BRIEF: Lok Capital, Michael and Susan Dell Foundation, Bellwether Microfinance Fund Exit Janalakshmi Financial Services of India

Lok Capital, a Mauritius-based venture capital fund; the Michael and Susan Dell Foundation, a US-based philanthropic organization that seeks to improve the lives of poor urban residents in India, South Africa and the US; and the Bellwether Microfinance Fund, an Indian investor of equity and in start-up and medium-sized businesses, reportedly have exited their private equity investments in Janalakshmi Financial Services (JFS), a Bangalore-based microfinance institution (MFI). Continue reading

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MICROCAPITAL BRIEF: Grameen-Jameel Microfinance Donates $1m to Kiva Partnership “Change is in Your Hands,” Supporting Microlenders in Middle East, North Africa; Offers Additional $1m in Matching Funds

Kiva, a US-based nonprofit crowdfunding organization that raises money for microfinance institutions (MFIs), and Grameen-Jameel Microfinance Limited, a Cyprus-based nonprofit joint venture of the US-based Grameen Foundation and Saudi Arabia-based Abdul Latif Jameel Community Initiatives, have reportedly entered into a partnership to launch the “Change is in Your Hands” campaign, an initiative which uses the website http://www.kiva.org/middleeast to support lending initiatives that will provide financing to entrepreneurs in the Middle East and North Africa. Continue reading

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MICROCAPITAL BRIEF: India’s ESAF Microfinance and Investment Issues $7.8m In Non-Convertible Debentures (NCDs) to Triodos

Evangelical Social Action Forum (ESAF) Microfinance and Investment Private Limited (EMFIL), a non-banking financial institution (NBFC) based in the Indian state of Kerala, reportedly has raised INR 475 million (USD 7.8 million) by issuing non-convertible debentures (NCDs) to Triodos Investment Management, a subsidiary of Netherlands-based for-profit Triodos Bank [1]. Continue reading

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MICROCAPITAL BRIEF: Incofin Investment Management Launches ProPulse Fund for Private Institutional Investors to Access Microfinance Institutions in Emerging Economies

Incofin Investment Management (Incofin IM), a microfinance fund manager based in Belgium, has announced the launch of its ProPulse Fund, which is designed specifically for private institutional investors to provide financing to entrepreneurs in emerging economies via microfinance institutions (MFIs) in response to “the large demand for local currency loans.” Continue reading

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MICROCAPITAL BRIEF: India’s Rashtriya Gramin Vikas Nidhi North East (RGVN) Microfinance Raises $7m in Equity Funding from Norwegian Microfinance Initiative Fund III, Oikocredit of the Netherlands, Dia Vikas Capital of India

Rashtriya Gramin Vikas Nidhi North East (RGVN), a microfinance institution (MFI) based in the Indian state of Assam, reportedly has raised approximately INR 420 million (USD 6.98 million) in equity funding from new investors [1]. Continue reading

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Written by Comments Off on MICROCAPITAL BRIEF: India’s Rashtriya Gramin Vikas Nidhi North East (RGVN) Microfinance Raises $7m in Equity Funding from Norwegian Microfinance Initiative Fund III, Oikocredit of the Netherlands, Dia Vikas Capital of India Posted in Investment Funds, South Asia, East Asia and Pacific

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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Written by Comments Off on MICROCAPITAL BRIEF: Canada to Support Nigerian Private Sector in Effort to Increase Job, Entrepreneurial Opportunities for Youth in Cross River State Posted in Africa, Investment Funds

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

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: Canadian Department of Foreign Affairs, Trade, Development (DFATD) Commits $20m to Ukrainian Agriculture

The Canadian Department of Foreign Affairs, Trade and Development (DFATD) has announced the launch of a business development project in Ukraine with the aim of supporting the country’s agricultural sector. 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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Written by Comments Off on 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 Posted in Investment Funds, South Asia, East Asia and Pacific

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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Written by Comments Off on 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 Posted in Investment Funds, Middle East

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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