Category: Investment Funds

MICROCAPITAL BRIEF: Microfinance Growth Fund (MiGroF) Ends 2011 with $85m in Loans Outstanding to Microfinance Institutions in Latin America

The Microfinance Growth Fund (MiGroF), which is managed by Switzerland’s BlueOrchard Finance to support Latin American microfinance institutions, closed 2011 with USD 85 million in outstanding loans and USD 23 million in uninvested capital. Continue reading

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Written by Comments Off on MICROCAPITAL BRIEF: Microfinance Growth Fund (MiGroF) Ends 2011 with $85m in Loans Outstanding to Microfinance Institutions in Latin America Posted in Investment Funds, Latin America

MICROCAPITAL BRIEF: Unitus Labs Launches Unitus Seed Fund, to Invest in Small Anti-Poverty Enterprises in India

Unitus Labs, a US-based nonprofit that aims to reduce poverty via economic empowerment, has recently launched the Unitus Seed Fund, a venture fund that will invest in start-up enterprises in India. Continue reading

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MICROFINANCE PUBLICATION ROUND-UP: Role Reversal Revisited, Microinsurance Profitability Business Case, Trends in Cross-Border Funding

Role Reversal Revisited,” by Damian von Stauffenberg and Daniel Rozas, published by MicroRate, 2011, 22 pages, available at http://microrate.com/wp-content/uploads/2012/01/Role-Reversal-Revisited-…

This paper reviews the roles of development finance institutions (DFIs) and private lenders in funding microfinance institutions (MFIs). Continue reading

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MICROCAPITAL BRIEF: Indian Microfinance Institution Ujjivan Financial Services Raises $25m in Equity from FMO, Wolfensohn, LOK, IFIF, Sequoia, Unitus, Elevar

Indian microfinance institution (MFI) Ujjivan Financial Services has raised INR 127.9 crore (USD 25 million) in its fifth round of equity financing. Continue reading

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MICROCAPITAL BRIEF: Switzerland’s Azure Partners Launches Azure Global Microfinance Fund

Azure Partners, a Swiss company specializing in “socially responsible investments,” has launched Azure Global Microfinance Fund, a microfinance-focused “fund of funds” that will accept investments from both private and institutional investors [1]. Continue reading

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MICROCAPITAL BRIEF: Oxfam International, Symbiotics Launch Small Enterprise Impact Investment Fund for Asia, Africa

UK-based relief agency Oxfam International and Swiss for-profit microfinance investment intermediary Symbiotics have jointly launched the Small Enterprise Impact Investment Fund (SEIIF) that will increase access to credit for small and medium-sized enterprises (SMEs) in Asia and Africa while offering investors both “measurable social impacts and financial returns” [1]. Continue reading

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MICROCAPITAL BRIEF: Technical Assistance Facility of Incofin Rural Impulse Fund II Receives $2.4m from French Public Finance Institution Agence Française de Développement (AFD)

The Agence Française de Développement (AFD), a French public development finance institution, has donated EUR 1.8 million (USD 2.4 million) in technical assistance (TA) funding to Incofin Rural Impulse Fund II. Valued at EUR 120 million (USD 173 million), Rural Impulse Fund II is one of two funds managed by Belgium’s Incofin Investment Management that invest in rural microfinance institutions [1].  Continue reading

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MICROCAPITAL BRIEF: MicroRate Founder Damian von Stauffenberg is First to be Named to LuxFLAG Microfinance Label Eligibility Committee

The Luxembourg Fund Labelling Agency (LuxFLAG), a microfinance investment vehicle (MIV) and environment-related investment vehicle (EIV) certification organization, recently announced that Mr Damian von Stauffenberg, the founder of US-based microfinance rating agency MicroRate, has been named to the eligibility committee of LuxFLAG’s Microfinance Label [1]. Continue reading

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MICROCAPITAL BRIEF: Microfinance Investment Vehicle Certification Organization Luxembourg Fund Labelling Agency (LuxFLAG) Accepting Applications for Environment Label

The Luxembourg Fund Labelling Agency (LuxFLAG), a microfinance investment vehicle (MIV) and environment-related investment vehicle (EIV) certification organization, has launched a request for applications for the second LuxFLAG Environment Label, which is granted to EIVs in an effort to “reassure investor[s] that labeled investment funds actually invest the majority of their assets in environment-related sectors in a responsible manner” [1]. Continue reading

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MICROCAPITAL BRIEF: FINCA International Launches For-Profit Subsidiary: FINCA Microfinance Holding LLC

The Foundation for International Community Assistance (FINCA) International received approximately USD 200 million to launch its new subsidiary, FINCA Microfinance Holding LLC (FMH). Continue reading

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MICROCAPITAL BRIEF: Absolute’s “Vision Microfinance,” “Vision Microfinance Local Currency” Report Net Returns of 2.51% to 4.55% for 2011

Absolute Portfolio Management GmbH, an Austrian investment company that specializes in microfinance, reports that the Dual Return Fund-Vision Microfinance, a sub-fund of Absolute’s Vision Microfinance, had a total fund volume of EUR 85.8 million (USD 109 million) with loans issued to 65 microfinance institutions (MFIs) in 25 emerging markets as of December 2011. Continue reading

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Written by Comments Off on MICROCAPITAL BRIEF: Absolute’s “Vision Microfinance,” “Vision Microfinance Local Currency” Report Net Returns of 2.51% to 4.55% for 2011 Posted in Investment Funds, Key Players

MICROCAPITAL BRIEF: responsAbility Invests $2.3m in Microfinance Institutions Arnur Credit of Kazakhstan, FINCA Armenia, FinDev of Azerbaijan

responsAbility Social Investments AG, a Swiss investment company that manages four microfinance investment vehicles (MIVs), recently reported to MicroCapital that it has made debt investments totaling the equivalent of USD 2.3 million in microfinance institutions (MFIs) Arnur Credit of Kazakhstan, FINCA Armenia and Finance for Development LLC (FinDev) of Azerbaijan [1]. Continue reading

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MICROCAPITAL BRIEF: Participatory Microfinance Group for Africa (PAMIGA) Collaborates with MicroLead Program to Open Office in Ethiopia, Support Microsavings Services of Buusaa Gonofaa, Wasasa

The Participatory Microfinance Group for Africa (PAMIGA), a Paris-based microfinance network, has opened an office in Ethiopia with the support of the United Nations Capital Development Fund (UNCDF) MicroLead Program, which aims to promote microsavings. Continue reading

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Written by Comments Off on MICROCAPITAL BRIEF: Participatory Microfinance Group for Africa (PAMIGA) Collaborates with MicroLead Program to Open Office in Ethiopia, Support Microsavings Services of Buusaa Gonofaa, Wasasa Posted in Africa, Investment Funds

MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) to Loan $100m to Small Businesses in the Ukraine, First $10m disbursed to Credit Europe Bank Ukraine

The European Bank for Reconstruction and Development (EBRD) has signed an agreement to loan USD 100 million for the benefit of micro-, small and medium-sized enterprises (MSMEs) in the Ukraine. Continue reading

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MICROCAPITAL BRIEF: Omtrix Raises $35m for New Higher Education Finance Fund (HEFF), Loans to be Distributed via Microfinance Institutions

Omtrix, a Costa Rica-based fund manager and financial consulting firm, has announced the launch of the Higher Education Finance Fund (HEFF), a student loan financing fund to promote and finance higher education opportunities for low-income youth in Bolivia, the Dominican Republic, Guatemala, Honduras, Paraguay and Peru. Continue reading

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Written by Comments Off on MICROCAPITAL BRIEF: Omtrix Raises $35m for New Higher Education Finance Fund (HEFF), Loans to be Distributed via Microfinance Institutions Posted in Investment Funds, Latin America

MICROCAPITAL BRIEF: “SANAD Fund for MSME” to Loan $5m to BLC Bank of Lebanon for On-Lending to Small and Medium-Sized Enterprises

SANAD Fund for MSME, a Luxembourg-based investment fund, has invested in Lebanon for the first time with a USD 5 million loan to BLC Bank sal, a Lebanese commercial bank. Continue reading

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Written by Comments Off on MICROCAPITAL BRIEF: “SANAD Fund for MSME” to Loan $5m to BLC Bank of Lebanon for On-Lending to Small and Medium-Sized Enterprises Posted in Investment Funds, Middle East

MICROCAPITAL BRIEF: TBC Capital Asset Management Looking to Raise $75m for “TBC Capital Impact Investing Fund-I” to Invest in Microfinance, Sustainable Agriculture, and Clean and Base-of-Pyramid Infrastructure

TBC Capital Asset Management Incorporated, a Canada-based investment management firm with a special focus on impact investments, is launching its TBC Capital Impact Investing Fund-I (TBCCIIF-I), which is a pooled fund established to invest in organizations that operate in the areas of: (a) microfinance – mainly tier-2 microfinance institutions and service providers to them – which will account for approximately 65 percent of the fund; (b) small and medium-sized enterprises (SMEs) “with high positive impact,” especially those involved in sustainable agriculture, which will receive approximately 20 percent of fund investments; and (c) clean and “base-of-pyramid” infrastructure, accounting for approximately 15 percent of the fund [1]. Continue reading

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Written by Comments Off on MICROCAPITAL BRIEF: TBC Capital Asset Management Looking to Raise $75m for “TBC Capital Impact Investing Fund-I” to Invest in Microfinance, Sustainable Agriculture, and Clean and Base-of-Pyramid Infrastructure Posted in Investment Funds, Key Players, Trends/Challenges