Category: Investment Funds

MICROCAPITAL BRIEF: Grassroots Business Fund (GBF) Reaches $8.4m Disbursed to Small and Medium-Size Enterprises in Africa, Asia, Latin America With Support from International Finance Corporation (IFC), Individual Donors

The Grassroots Business Fund (GBF), a nonprofit investment fund founded in 2008 by former World Bank employee Harold Rosen, has made 32 investments worth a total of USD 8.4 million in small and medium-size enterprises in Africa, Asia and Latin America as of May 2011. Investees have included Latco International, a Bolivian producer and exporter of sesame seeds, and Hai Tanzania, a cocoa trading company. GBF is currently seeking USD 60 million in an effort to scale its “hybrid” business model, which employs a combination of grants and for-profit investments that seek to generate “low double-digit returns to investors.” According to Mr Rosen, “half a dozen or so” angel investors plan to invest a total of “between USD 100,000 and USD 1 million” [1]. Continue reading

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MICROCAPITAL BRIEF: LuxFLAG Renews Label for MIVs From Absolute, BlueOrchard, EFSE, Finethic, Horus, KCD, ResponsAbility, Triodos, Wallberg

LuxFLAG, an organization established in 2006 to certify that microfinance investment vehicles (MIVs) actually invest in the sector, has renewed its annual label for 13 MIVs: Advans SA, BlueOrchard Microfinance Fund for US Investors, Dexia Micro-Credit Fund – BlueOrchard Debt Sub-Fund, Dual Return Fund – Vision Microfinance, European Fund for Southeast Europe, Finethic Microfinance,  KCD Mikrofinanzfonds I, KCD Mikrofinanzfonds II, responsAbility Global Microfinance Fund, responsAbility (Lux) Microfinance Leaders Fund, responsAbility (Lux) Mikrofinanz-Fonds, Triodos Microfinance Fund and Wallberg Global Microfinance Fund. Continue reading

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Written by Comments Off on MICROCAPITAL BRIEF: LuxFLAG Renews Label for MIVs From Absolute, BlueOrchard, EFSE, Finethic, Horus, KCD, ResponsAbility, Triodos, Wallberg Posted in Investment Funds, Transparency

MICROCAPITAL BRIEF: Norwegian Microfinance Initiative (NMI) Global Fund Invests $2.8m in Triodos Microfinance Fund (TMF)

The Norwegian Microfinance Initiative (NMI), a public-private partnership (PPP) that provides technical and financial support to microfinance institutions (MFIs), has agreed to invest an additional EUR 2 million (USD 2.8 million) in the Triodos Microfinance Fund (TMF), a Netherlands-based microfinance investment vehicle (MIV) that supports MFIs around the world [1]. Continue reading

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Written by Comments Off on MICROCAPITAL BRIEF: Norwegian Microfinance Initiative (NMI) Global Fund Invests $2.8m in Triodos Microfinance Fund (TMF) Posted in Deals, Investment Funds

MICROCAPITAL BRIEF: PlaNet Finance, Freie Universitat Berlin Accepting Applications for University Meets Microfinance (UMM) Scholarship Programme

PlaNet Finance, a French nonprofit, has issued a call for students to submit applications for its third University Meets Microfinance (UMM) Scholarship Programme. Continue reading

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MICROCAPITAL BRIEF: International Finance Corporation (IFC) May Invest in Nigerian Mobile Money Industry

International Finance Corporation (IFC), the private-investment arm of the World Bank Group, is reported to be conducting due diligence on the Nigerian mobile money industry. Mobile Money Africa, a Nigerian-based online mobile financial inclusion news source, reports that IFC is “keen to play a major role in the country’s emerging mobile money ecosystem and was currently evaluati[ng] opportunities [in]…technology acquisition, e-Float management and agency networks” [1]. To address the lack of financial access in the country, the Central Bank of Nigeria has granted licenses to 16 mobile money companies in an effort to encourage growth in this industry. Continue reading

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MICROCAPITAL BRIEF: Inter-American Development Bank (IDB) Establishes “Flexible Financing Facility” for Countries in Latin America, Caribbean

The Inter-American Development Bank (IDB), a US-based multilateral finance institution that operates in Latin America and the Caribbean, has established a “Flexible Financing Facility” (FFF) that will give Latin American and Caribbean countries flexibility in loan terms and conditions as well as allowing the use of hedges to manage interest rate and currency risks associated with loans from IDB [1]. Continue reading
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MICROCAPITAL BRIEF: Swiss Microfinance Investment Vehicle (MIV) Manager responsAbility Releases Social Performance Report 2011

responsAbility Social Investments AG, an investment company based in Switzerland, recently released its “Social Performance Report 2011,” which is the sixth of its kind, covering the effect on poor people of its work during 2010 in the following areas: microfinance, fair trade, small and medium-sized enterprise (SME) financing and independent media. Continue reading

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Written by Comments Off on MICROCAPITAL BRIEF: Swiss Microfinance Investment Vehicle (MIV) Manager responsAbility Releases Social Performance Report 2011 Posted in Investment Funds, Transparency

MICROCAPITAL BRIEF: Global Partnerships Social Investment Fund (SIF) 2010 Loans $700k to FONDECO of Bolivia, Enlace of El Salvador

Global Partnerships (GP), a microfinance organization based in the United States, recently reported to MicroCapital that it made debt investments totaling USD 700,000 in microfinance institutions (MFIs) in Bolivia and El Salvador [1]. Continue reading

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MICROCAPITAL BRIEF: responsAbility Social Investments of Switzerland Loans $2m to Middle East Micro Credit Company (MEMCC) of Jordan, Urwego Opportunity Bank (UOB) of Rwanda

responsAbility Social Investments AG, an investment company based in Switzerland, recently reported to MicroCapital that it has made local-currency loans totaling the equivalent of USD 2 million to microfinance institutions (MFIs) Middle East Micro Credit Company (MEMCC) of Jordan and Urwego Opportunity Bank (UOB) of Rwanda. Continue reading

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Written by Comments Off on MICROCAPITAL BRIEF: responsAbility Social Investments of Switzerland Loans $2m to Middle East Micro Credit Company (MEMCC) of Jordan, Urwego Opportunity Bank (UOB) of Rwanda Posted in Africa, Deals, Investment Funds

MICROCAPITAL BRIEF: European Fund for Southeast Europe (EFSE) Loans $7.4m to NLB Razvojna Banka of Bosnia and Herzegovina

The European Fund for Southeast Europe (EFSE), a microfinance investment fund, recently loaned USD 7.4 million to NLB Razvojna banka, a financial institution in Bosnia and Herzegovina that provides financial services to retail clients, corporate clients and small and medium-sized enterprises (SMEs) [1]. Continue reading

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MICROCAPITAL BRIEF: responsAbility Loans $6m to Microfinance Institution Financiera Creditos Arequipa SA (Financiera Crear), Fair Trade Groups Asociacion de Comites de Productores Agropecuarios (ACOPAGRO), Frontera de San Ignacio, All of Peru

responsAbility Social Investments AG, an investment company based in Switzerland, recently reported to MicroCapital that it has loaned the equivalent of USD 6.62 million to microfinance institution Financiera Creditos Arequipa SA (Financiera Crear) and fair trade groups Asociacion de Comites de Productores Agropecuarios (ACOPAGRO) and Frontera de San Ignacio, all of Peru. Continue reading

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Written by Comments Off on MICROCAPITAL BRIEF: responsAbility Loans $6m to Microfinance Institution Financiera Creditos Arequipa SA (Financiera Crear), Fair Trade Groups Asociacion de Comites de Productores Agropecuarios (ACOPAGRO), Frontera de San Ignacio, All of Peru Posted in Deals, Investment Funds, Latin America

MICROCAPITAL BRIEF: responsAbility Loans $3.9m to Microfinance Institutions Financiera Confianza, Cooperativa Agropecuaria Limitada Naranjillo of Peru

responsAbility Social Investments AG, an investment company based in Switzerland, recently reported to MicroCapital that it loaned the equivalent of USD 3.9 million to microfinance organizations Financiera Confianza and Cooperativa Agropecuaria Limitada Naranjillo of Peru. Continue reading

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MICROCAPITAL BRIEF: responsAbility Loans $8.7m to Microfinance Institutions (MFIs) Microenterprise Development Fund Kamurj of Armenia, ProCredit Bank Georgia

responsAbility Social Investments AG, a Swiss investment company that operates a number of microfinance investment vehicles (MIVs), recently reported to MicroCapital that it has made debt investments of USD 1.2 million in Armenian microfinance institution (MFI) Microenterprise Development Fund Kamurj (MDF Kamurj) and USD 7.5 million in Georgian MFI ProCredit Bank Georgia. Continue reading

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MICROCAPITAL BRIEF: Goodwell West Africa Invests in Nigerian Mobile Money Service, Paga

Goodwell West Africa, a branch of Goodwell Investments of the Netherlands, has invested an undisclosed amount in Paga’s mobile money service with approval from the Central Bank of Nigeria. Continue reading

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MICROCAPITAL BRIEF: Spanish Fund for Latin America and the Caribbean (SFLAC), International Finance Corporation (IFC) to Assist Salvadoran Microfinance Institution (MFI) Ahorro y Credito AMC de RL in Developing Savings Product, Building Sustainable Business Plan

International Finance Corporation (IFC), the private-investment arm of the World Bank Group, with support from the Spanish Fund for Latin America and the Caribbean (SFLAC), a trust fund of the Spanish Government, recently announced a partnership with Salvadoran microfinance institution (MFI), Ahorro y Credito AMC de RL to build a long-term sustainability plan for the MFI and create a savings product to be marketed to rural, low-income households. Continue reading

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Written by Comments Off on MICROCAPITAL BRIEF: Spanish Fund for Latin America and the Caribbean (SFLAC), International Finance Corporation (IFC) to Assist Salvadoran Microfinance Institution (MFI) Ahorro y Credito AMC de RL in Developing Savings Product, Building Sustainable Business Plan Posted in Investment Funds, Key Players, Latin America

MICROCAPITAL BRIEF: Investor in Microfinance, Education, Health, Infrastructure, Matrix Partners India Raises $300m

Matrix Partners India, the Indian subsidiary of US-based private equity firm Matrix Partners, recently announced that it raised USD 300 million for its second fund. With the closing of this fund, Matrix Partners India currently has approximately USD 677 million in assets under management. Continue reading

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MICROCAPITAL BRIEF: Stanford Social Innovation Review (SSIR) Blog, Ignacio Mas, John Staley Offer Regulators, Financial Service Providers Ideas to Increase Financial Inclusion

Ignacio Mas, Senior Advisor to the Financial Services for the Poor Initiative at the Bill & Melinda Gates Foundation, and John Staley, Director of Finance and Shared Services at Equity Bank of Kenya, recently posted an entry on the Stanford Social Innovation Review (SSIR) blog titled “Are We Serious About Financial Inclusion for All?” [1]. Mr Mas and Mr Staley highlight the importance of increasing access to financial services in developing countries and outline their four suggestions for regulators and financial service providers to advance financial inclusion. Continue reading

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MICROCAPITAL BRIEF: CGAP (Consultative Group to Assist the Poor) Focus Note Examines Cross-Border Funding of Microfinance

A new Focus Note from CGAP (Consultative Group to Assist the Poor) examines data from CGAP’s annual surveys on cross-border microfinance funding to provide an overview of the microfinance funding landscape and trends in cross-border funding [1]. Continue reading

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