MICROCAPITAL BRIEF: Bamboo Finance, ZS Associates Co-Founder Invest $4m in Equity in Greenlight Planet to Boost Research, Distribution Network of LED Lamps in Rural India

Bamboo Finance, a Switzerland-based investment firm, and Dr PK Sinha, co-founder of US-based consulting firm ZS Associates, recently invested a total of INR 206 million (USD 4 million) in equity in Greenlight Planet, an Indian company that aims to provide “low-cost” energy products to low-income households in emerging markets. One of Greenlight Planet’s main products is light-emitting diodes (LEDs) that are meant to serve as a more cost-efficient substitute for kerosene lamps for rural populations in developing countries. Greenlight Planet plans to use the funds to increase its distribution network and improve its research and development capabilities. The amount invested by each Bamboo Finance and Dr Sinha has not been released and neither has the size of the stake sold by Greenlight Place. As part of the arrangement, Bamboo Finance investment manager Keith Allman will join Greenlight Planet’s board of directors. Dr Sinha is already a member of the board.

Bamboo Finance is affiliated with BlueOrchard, a Switzerland-based microfinance intermediary. Bamboo Finance manages the Oasis Fund, a Luxembourg-based investment advisory firm that specializes in financing social enterprises. BlueOrchard reported total assets of USD 1.1 billion as of 2011. Financial information for Oasis Fund, Bamboo Finance and Greenlight Planet is not available.

By Charlotte Newman, Research Associate

Sources and Additional Resources:

VCCircle: “Greenlight Raises $4M from Bamboo Finance, ZS Associates’ Co-founder,” http://www.vccircle.com/500/news/greenlight-raises-4m-from-bamboo-finance-zs-associates%E2%80%99-co-founder

MicroCapital.org story, March 24, 2012, “MICROCAPITAL BRIEF: Karnataka Vikas Grameena Bank Reaches $1m of Solar Power Products Financed in India,” https://www.microcapital.org/microcapital-brief-karnataka-vikas-grameena-bank-reaches-1m-of-solar-power-products-financed-in-india/

MicroCapital Universe Profile: Oasis Fund
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Oasis+Fund

MicroCapital Universe Profile: BlueOrchard
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=BlueOrchard

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