Category: Investment Funds

MICROCAPITAL BRIEF: Absolute Portfolio Management Loans $13m from Dual Return Funds to Microfinance Institutions (MFIs) in South America, Eurasia Including FINCA Armenia

Absolute Portfolio Management (APM), an Austria-based firm that invests in microfinance and other sectors, recently notified MicroCapital that it loaned the equivalent of USD 13 million during April 2013 through two of the funds that it manages to microfinance institutions (MFIs) in Armenia, Azerbaijan, Ecuador, Honduras, Kyrgyzstan, Mongolia, Peru, the Philippines, Russia and Tajikistan. Of this amount, USD 7.5 million was issued in local currency. Continue reading

Share

MICROCAPITAL BRIEF: European Fund for Southeast Europe (EFSE) to Loan $16m to ACBA-Credit Agricole Bank of Armenia

The European Fund for Southeast Europe (EFSE), a Luxembourg-based microfinance investment vehicle (MIV), has notified MicroCapital that it recently disbursed two loans totaling the equivalent of USD 16 million to Agricultural Cooperative Bank of Armenia-Credit Agricole Bank (ACBA), a microfinance bank partially owned by French bank Credit Agricole. Continue reading

Share

MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) Opens $112m in Credit Lines to Société Générale Expressbank, Sogelease Bulgaria for On-lending, Leasing to Small, Medium-Sized Enterprises

The UK-based European Bank for Reconstruction and Development (EBRD) has agreed to loan up to EUR 85 million (USD 111.5 million) to two units of French-based Société Générale Group to finance the growth of small and medium-sized enterprises (SMEs) in Bulgaria. Continue reading

Share

MICROCAPITAL BRIEF: responsAbility Loans $8m to Banco Pichincha of Ecuador

ResponsAbility Social Investments, a Swiss investment company, has notified MicroCapital that it recently disbursed loans totaling USD 8 million to Banco Pichincha of Ecuador, a commercial bank that offers financial services to corporations; retailers; and micro-, small and medium-sized enterprises. Continue reading

Share

MICROCAPITAL BRIEF: Multilateral Investment Fund to Invest $5.8 million in Equity in Nxtp Labs of Argentina to Support Technology Start-Ups in Latin America

The Multilateral Investment Fund (MIF), a member of the US-based IDB (Inter-American Development Bank) Group, recently approved a USD 5 million equity investment and USD 750,000 in technical assistance for Nxtp Labs, an Argentina-based company that provides seed funding for entrepreneurs in Latin America seeking to establish technology-based businesses in exchange for an equity stake worth between two and ten percent. Continue reading

Share

MICROCAPITAL BRIEF: US-Based Sequoia Capital Invests $2m in Equity in Electronic Payment Platform, Citrus Pay

Citrus Pay, a Mumbai-based digital payments service provider, and Ezetap Mobile Solutions, a Bangalore-based mobile payments service provider, have developed electronic payment platforms that address internet security and connectivity challenges, both of which have discouraged Indian consumers from using digital payment methods. Continue reading

Share

MICROCAPITAL BRIEF: Mennonite Economic Development Associates (MEDA) Maroc Launches “Financial Solutions Youth” Project in Morocco

Mennonite Economic Development Associates (MEDA), a Canada-based nonprofit that aims to alleviate poverty through financial investment via 227 partner institutions in 56 countries, and its Morocco division, MEDA Maroc, are launching the “Financial Solutions Youth” project in an effort to support Moroccan microfinance institutions (MFIs) in improving access to financial services for youth. Continue reading

Share

MICROCAPITAL BRIEF: Deutsche Investitions-und Entwicklungsgesellschaft, International Finance Corporation, African Capitalization Fund Buy 34% of UT Bank of Ghana for $23m

Deutsche Investitions-und Entwicklungsgesellschaft GmbH (DEG), a German development finance institution; the International Finance Corporation (IFC), the commercial arm of the US-based World Bank Group, and the African Capitalization Fund (ACF), a US-based investment fund managed by IFC subsidiary IFC Asset Management Company, recently placed an equity investment totaling approximately GHS 46 million (USD 23.3 million) in UT Bank Limited, a publicly-traded Ghanaian bank that offers microfinance services and was formerly known as Unique Trust Financial Services. Continue reading

Share

MICROCAPITAL BRIEF: Caspian Advisors Launches $40m Caspian Impact Investments (CII) Fund for Microfinance, Affordable Housing, Agriculture

Caspian Advisors Private Ltd., an Indian investment management and advisory services company specializing in the socially-responsible arena, recently launched the Caspian Impact Investments (CII) fund, which is targeted to raise USD 40 million for projects in the areas of microfinance, small business financing, affordable housing and agriculture. Continue reading

Share

MICROCAPITAL BRIEF: Rockefeller, Tony Elumelu Foundations Launch “Impact Economy Innovations Fund” for Africa

The Rockefeller Foundation, a US-based organization, and the Tony Elumelu Foundation, a Nigeria-based organization, recently announced the launch of the Impact Economy Innovations Fund (IEIF), an impact investment fund operating across Africa. Continue reading

Share

MICROCAPITAL BRIEF: Nigeria Deposit Insurance Corporation to Bailout Microfinance Institutions, Primary Mortgage Banks

The Nigeria Deposit Insurance Corporation (NDIC), a quasi-independent agency of the federal government that insures deposit-taking financial institutions, recently announced that it will grant an undisclosed amount of financial assistance to distressed microfinance banks (MFBs) and primary mortgage banks (PMBs) recently closed by the Central Bank of Nigeria (CBN). Continue reading

Share

MICROCAPITAL BRIEF: Indian Microfinance Institution Satin Creditcare Sells 20% Equity Stake for $8m from Danish Microfinance Partners, MicroVest II, ShoreCap II; Lok Capital Exits

Indian microfinance institution (MFI) Satin Creditcare Network Limited recently raised INR 410 million (USD 7.5 million) by selling a stake of approximately 20 percent to three microfinance investment funds in undisclosed portions: Danish Microfinance Partners K/S (DMP), MicroVest II LP and ShoreCap II Limited. Continue reading

Share

MICROCAPITAL BRIEF: The European Fund for Southeast Europe (EFSE) to Loan $1.9m to Mi-Bospo of Bosnia and Herzegovina

The European Fund for Southeast Europe (EFSE), a Luxembourg-based microfinance investment vehicle (MIV), recently loaned EUR 1.5 million (USD 1.9 million) to Mikrokreditna Fondacija Mi-Bospo, a microfinance institution (MFI) based in Bosnia and Herzegovina that loans exclusively to women. Continue reading

Share

MICROCAPITAL BRIEF: European Bank for Reconstruction and Development Plans to Invest $20m in Da Vinci Private Equity Fund II for Financial Infrastructure SMEs in Commonwealth of Independent States

The European Bank for Reconstruction and Development (EBRD), a multilateral financial institution based in London, plans to invest up to USD 20 million in the Da Vinci Private Equity Fund II, which invests in small and medium enterprises (SMEs) operating in the financial infrastructure sector in the Commonwealth of Independent States (CIS), which is composed of the former Soviet republics. Continue reading

Share

MICROCAPITAL BRIEF: Grameen Koota of India Receives $9.8m in Equity from Incofin, MicroVentures, Aavishkaar Goodwell, Creation Investments; $4m in Debt Funding from Deutsche Bank Microfinance Fund

Indian non-banking financial company (NBFC) Grameen Financial Services Private Limited, also known as Grameen Koota, recently received INR 532 million (USD 9.8 million) in its third round equity funding from Beligium-based investment company Incofin, Italy-based private equity firm MicroVentures, Indian-Dutch joint venture Aavishkaar Goodwell, and US-based for-profit company Creation Investments. Continue reading

Share

MICROCAPITAL BRIEF: Incofin’s Rural Impulse Fund II, Norwegian Microfinance Initiative (NMI) Frontier Fund, Invest $4.5m in Fusion Microfinance of India

Incofin Investment Management, a Belgium-based manager of microfinance investment funds, and the Norwegian Microfinance Initiative (NMI), a Norway-based corporation that invests in and provides technical support for microfinance institutions (MFIs), recently invested INR 250 million (USD 4.5 million) in Indian non-banking financial company (NBFC) Fusion Microfinance Private Limited. Continue reading

Share