MICROCAPITAL BRIEF: Aavishkaar Goodwell India Microfinance Development Company Ltd Invests USD 450,000 in Belstar Investment and Finance Ltd

Aavishkaar Goodwell India Microfinance Development Company Ltd, an Indian-Dutch joint venture company that provides equity finance for microfinance institutions (MFIs), recently invested USD 450,000 in Belstar Investment and Finance Ltd, a non-bank finance company (NBFC) based in Bangalore, India.

Founded in 2006, Aavishkaar Goodwell India Microfinance Development Company is a USD 18 million fund that expects to make 15 to 20 investments of USD 500,000 to USD 2 million.

Belstar is the “microfinance delivery arm” of Hand in Hand, a nongovernmental charitable organization with 75,466 active borrowers and total assets of USD 6 million as of March 2009.

By Stefanie Rubin, Research Associate

About Aavishkaar Goodwell India Microfinance Development Company Ltd:

Aavishkaar Goodwell India Microfinance Development Company Ltd is a for-profit business development company that provides equity finance and support to entrepreneurial microfinance organizations in India. Aavishkaar Goodwell is building a portfolio of USD 25 million in 30-40 microfinance start-ups and 8-10 fast growing institutions. For microfinance start-ups, Aavishkaar Goodwell partners with the Intellecap financing program. The franchising program aims to reach out to 10 million clients and add USD 1 billion of outstanding loans by 2010. Aavishkaar Goodwell is a Indian-Dutch joint venture. The investment team in India invests alongside the team that manages Aavishkaar India Micro Venture Capital Fund. The Dutch microfinance private equity company Goodwell Microfinance Development Company is the lead investor in Aavishkaar Goodwell, along with development financial institutions and commercial banks, including the Netherlands Development Finance Company (FMO), the International Finance Corporation, and Deutsche Bank.

About Belstar Investment and Finance Ltd:

Belstar Investment and Finance Limited is a non-bank finance company based in Bangalore, India. It is the “microfinance delivery arm” of Hand in Hand, a nongovernmental charitable organization that “aims to reduce poverty through creating jobs in microfinance, education, health, and information.” Hand in Hand acquired Belstar in 2008. As of March 2009, Hand in Hand had a gross loan portfolio of USD 4.6 million, total assets of USD 6 million and 75,466 active borrowers.

Additional Resources:

Source Article: This information was submitted directly to MicroCapital.

MicroCapital Universe: Aavishkaar Goodwell

MicroCapital Universe: Belstar Investment and Finance Ltd

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