Category: Investment Funds

MICROCAPITAL BRIEF: Spurned by Commercial Banks, Indian Microfinance Institutions (MFIs) Raise Funds from Social Investors IFC, ACCION, MicroVest, ShoreCap, Aavishkaar, BlueOrchard

Indian microfinance institutions (MFIs), which have seen new lending from commercial banks dry up since the “Andhra Pradesh crisis” broke in late 2010, instead have been accessing funds from social and philanthropic investors including: International Finance Corporation (IFC), the private-investment arm of the World Bank Group; ACCION International, a US-based nonprofit organization; MicroVest Capital Management, a US-based family of microfinance investment funds; Shore Capital, a UK-based investment banking company; Aavishkaar Goodwell India Microfinance Development Company Limited, an India-based financing company; and BlueOrchard Microfinance Investment Managers, a Swiss manager of microfinance funds. Continue reading

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MICROCAPITAL BRIEF: European Investment Bank Appoints Frankfurt School of Finance as Technical Assistance Provider for Incofin’s Rural Impulse Fund II in Africa, Caribbean, Pacific (ACP)

Incofin Investment Management (Incofin), a Belgian fund manager that invests in microfinance institutions (MFIs), recently reported that the European Investment Bank (EIB), the European Union’s financing institution, has appointed Frankfurt School of Finance, a bank training and consultancy institute in Germany, to provide technical assistance (TA) for Incofin’s Rural Impulse Fund II (RIF II). RIF II is a EUR 97 million (USD 139 million) fund that invests in MFIs targeting rural areas in developing countries. In order to improve the outreach and impact of its investees, Incofin has integrated a technical assistance facility into the fund. EIB has contributed EUR 1 million (USD 1.4 million) to the facility to support investees located in countries in Africa, the Caribbean and the Pacific (ACP). According to Incofin, the total TA budget of RIF II will amount to approximately EUR 2.5 million (USD 3.6 million).  Continue reading

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MICROCAPITAL BRIEF: Microfinance Institution (MFI) TuranBank of Azerbaijan Receives Loan of $7m from IFC to Expand Rural Lending

International Finance Corporation (IFC), the private-investment arm of the World Bank Group, has agreed to loan USD 7 million to TuranBank, a microfinance institution (MFI) in Azerbaijan, in an effort to help the MFI increase its lending to rural micro- and small enterprises (MSEs). Continue reading

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MICROCAPITAL BRIEF: responsAbility Loans $3.9m to Microfinance Institutions (MFIs) Arvand of Tajikistan, Mol Bulak of Kyrgyzstan, Constanta and Lazika Capital, Both of Georgia

responsAbility Social Investments AG, a Swiss investment company that operates four microfinance investment vehicles (MIVs), recently reported to MicroCapital that it has made debt investments totalling USD 3.9 million in microfinance institutions (MFIs) Arvand of Tajikistan, Mol Bulak Finance of Kyrgyzstan, Joint Stock Company (JSC) Bank Constanta of Georgia and JSC Lazika Capital of Georgia. Continue reading

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MICROCAPITAL BRIEF: responsAbility Loans $6m to ProCredit Bank of Moldova, Foundation for International Community Assistance (FINCA) Russia, FINCA Jordan

responsAbility Social Investments AG (responsAbility), a Swiss asset management company that invests in microfinance institutions (MFIs) and microfinance investment vehicles (MIVs), recently reported to MicroCapital that it has loaned the equivalent of USD 6.3 million to ProCredit Bank of Moldova, Foundation for International Community Assistance (FINCA) Russia and FINCA Jordan through MIVs that it manages. Continue reading

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MICROCAPITAL BRIEF: IFC to Provide Local Currency Loans Worth Total of $13m to FINCA Azerbaijan, FINCA Kyrgyzstan to Expand Access to Microfinance

International Finance Corporation (IFC), the private-investment arm of the World Bank Group, reportedly will provide local-currency loans of USD 7 million to FINCA Azerbaijan and USD 6 million to FINCA Kyrgyzstan, two microfinance institutions (MFIs) that are members of US-based FINCA International’s global microfinance network. Continue reading

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MICROCAPITAL BRIEF: Triodos Invests in Microfinance Institutions (MFIs) KixiCrédito of Angola, Advans Ghana, Arnur Credit of Kazakhstan, Belarusian Bank for Small Business, Kompanion of Kyrgyzstan

Triodos Investment Management, a Netherlands-based manager of four microfinance investment funds, recently reported to MicroCapital that its funds have added five microfinance institutions (MFIs) to their portfolios; KixiCrédito of Angola; Advans Ghana Savings and Loans Limited of Ghana; Arnur Credit of Kazakhstan; Belarusian Bank for Small Business (BBSB) of Belarus; and Kompanion Financial Group Microfinance Closed Joint Stock Company of Kyrgyzstan. Continue reading

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MICROCAPITAL BRIEF: Triodos Invests in Microfinance Institutions (MFIs) COMIXMUL of Honduras, CACMU of Ecuador, Sembrar Sartawi of Bolivia

Triodos Investment Management, a Netherlands-based manager of four microfinance investment funds, recently reported to MicroCapital that its funds have added three Latin American microfinance institutions (MFIs) to their portfolios; Cooperativa Mixta Mujeres Unidas Limitada (COMIXMUL) of Honduras; Cooperativa de Ahorro y Crédito Mujeres Unidas (CACMU) of Ecuador; and Institución Financiera de Desarrollo (IFD) Sembrar Sartawi of Bolivia. Continue reading

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Written by Comments Off on MICROCAPITAL BRIEF: Triodos Invests in Microfinance Institutions (MFIs) COMIXMUL of Honduras, CACMU of Ecuador, Sembrar Sartawi of Bolivia Posted in Investment Funds, Latin America

MICROCAPITAL BRIEF: Call for Applications For India’s 8th Annual Citi Micro Entrepreneur Awards

Citi Foundation, the charitable arm of global financial services provider Citi, has issued a call for applications for its 8th annual Citi Micro Entrepreneur Awards (CMEA).
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MICROCAPITAL BRIEF: Triple Jump Opens Office in Mexico, Surpasses $300m in Microfinance Investments, Celebrates Five-Year Anniversary

Triple Jump, a Netherlands-based advisory service and manager of three microfinance investment vehicles (MIVs), recently announced plans to open an office in Mexico City, Mexico, to serve the region of Central America and the Caribbean. Continue reading

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Written by Comments Off on MICROCAPITAL BRIEF: Triple Jump Opens Office in Mexico, Surpasses $300m in Microfinance Investments, Celebrates Five-Year Anniversary Posted in Investment Funds, Latin America

MICROCAPITAL BRIEF: responsAbility Global Microfinance Fund (rAGMF) Makes Loans Totaling $2.8m to Hattha Kaksekar Limited (HKL), Thaneakea Phum Limited (TPC) of Cambodia and Koperasi Mitra Dhuafa (Komida), Tanaoba Lais Manekat Foundation (TLM) of Indonesia

responsAbility Global Microfinance Fund (rAGMF), a microfinance investment vehicle (MIV) managed by responsAbility Social Investments AG (responsAbility), recently reported to MicroCapital that it has loaned the equivalent of USD 2.8 million to four microfinance institutions (MFIs) in Cambodia and Indonesia. responsAbility is an investment company based in Switzerland that invests in MFIs and other MIVs. Continue reading

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Written by Comments Off on MICROCAPITAL BRIEF: responsAbility Global Microfinance Fund (rAGMF) Makes Loans Totaling $2.8m to Hattha Kaksekar Limited (HKL), Thaneakea Phum Limited (TPC) of Cambodia and Koperasi Mitra Dhuafa (Komida), Tanaoba Lais Manekat Foundation (TLM) of Indonesia Posted in Investment Funds, South Asia, East Asia and Pacific, Trends/Challenges

MICROCAPITAL BRIEF: Swiss Re to Assist International Finance Corporation (IFC) With Global Index Insurance Facility (GIIF) For West Africa

International Finance Corporation (IFC), the private-investment arm of the World Bank Group, and Swiss Re Corporate Solutions (Swiss Re), a reinsurer and financial services group based in Zurich, Switzerland, have partnered to further develop the Global Index Insurance Facility (GIIF) [1]. Index insurance is a product that covers farmers against presumed crop failure based on measurable factors such as if rainfall is below a predetermined threshold. GIIF was launched by IFC in 2009 as a regional platform intended “to develop agricultural insurance systems in West African countries including Senegal, Mali and Burkina Faso” [2]. Continue reading

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MICROCAPITAL BRIEF: responsAbility Loans $7.5m in Local Currency to Peruvian Microfinance Institutions (MFIs) Financiera Confianza, Edpyme Raiz, Prisma

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 local-currency debt investments worth a total of USD 7.5 million in Peruvian microfinance institutions (MFIs) Edpyme Raiz, Financiera Confianza and Asociacion Benefica Prisma (Prisma). Continue reading

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Written by Comments Off on MICROCAPITAL BRIEF: responsAbility Loans $7.5m in Local Currency to Peruvian Microfinance Institutions (MFIs) Financiera Confianza, Edpyme Raiz, Prisma Posted in Deals, Investment Funds, Latin America

MICROCAPITAL BRIEF: International Finance Corporation (IFC) to Loan $4m to AccessBank of Tajikistan for Expansion of Loan Portfolio, Movement Toward Deposit-Taking

The International Finance Corporation (IFC), the private-investment arm of the World Bank Group, has agreed to loan USD 4 million to microfinance institution (MFI) AccessBank Tajikistan to expand the MFI’s loan portfolio, develop a greater variety of credit products and “support competition in the microfinance sector,” according to an IFC press release [1]. Continue reading

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MICROFINANCE PAPER WRAP-UP: Microfinance and Social Investment; By Jonathan Conning and Jonathan Morduch; Published by The Financial Access Initiative (FAI) at New York University’s Robert F Wagner Graduate School of Public Service and Hunter College

By Jonathan Conning and Jonathan Morduch; published by Financial Access Initiative (FAI) at New York University’s Robert F Wagner Graduate School of Public Service and Hunter College; April 8, 2011; 30 pages; available at: http://financialaccess.org/sites/default/files/Microfinance%20&%20Social%20Investment_Conning&Morduch.pdf Continue reading

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Written by Comments Off on MICROFINANCE PAPER WRAP-UP: Microfinance and Social Investment; By Jonathan Conning and Jonathan Morduch; Published by The Financial Access Initiative (FAI) at New York University’s Robert F Wagner Graduate School of Public Service and Hunter College Posted in Investment Funds, Risks, Trends/Challenges

MICROCAPITAL BRIEF: Paper Gains on Early Investment in SKS Microfinance Largely Evaporate For Sequoia Capital

Since its initial investment in SKS Microfinance, an India-based microfinance institution (MFI), Sequoia Capital, a US-based venture capital firm, has experienced significant gains on paper followed by partial losses of those gains. Continue reading

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MICROCAPITAL BRIEF: Nigeria’s Capital Express Assurance Purchases Majority Shareholding in Kenya’s Capex Life Insurance, Which Plans to Downsize to Focus on Microfinance

Capital Express Assurance, a Nigeria-based life insurance company, has purchased a majority shareholding in Capex Life Assurance, a Kenya-based life insurance company formerly known as Trinity Life Assurance. Capital Express Assurance purchased a 65 percent stake in Capex Life Assurance for USD 975,000 [1]. The remaining 35 percent stake was purchased by a group of individual Kenyan investors led by current Capex Life Assurance general manager, James Macharia [1]. Continue reading

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MICROCAPITAL BRIEF: LeapFrog Partners With Unitus Capital Looking to Invest $40m to Increase Microinsurance Penetration in India

LeapFrog Investments, a US-based private equity fund focusing on microinsurance activities, is reportedly looking for opportunities to deploy up to USD 40 million in India. Continue reading

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