MicroVentures India, a private equity fund that invests in microfinance institutions (MFIs), recently loaned INR 30 million (approximately USD 680,000) to Indian MFI Swadhaar Finserve.
Based in Mumbai, India, the MFI provides microcredit and microinsurance services to low-income groups. MicroVentures India is one of the two partner organizations under the umbrella organization MicroVentures SpA of Italy, which invests in microfinance institutions through direct equity investments and debt instruments such as convertible or subordinated bonds.
According to the Microfinance Information Exchange (MIX), the microfinance information clearinghouse, Swadhaar Finserve reported a gross loan portfolio of USD 4.4 million, total assets of USD 6.3 million and 27,391 active borrowers as of 2009. As of 2008, MicroVentures SpA reported total fund assets of EUR 20 million (approximately USD 27.6 million).
About MicroVentures SpA:
Based in Italy, MicroVentures SpA is a private equity firm that invests in microfinance institutions (MFIs) through direct equity investments or through hybrid instruments such as subordinated and convertible bonds or quasi-equity. MicroVentures SpA invests in South Asia and South America. MicroVentures has three groups of investors; financial institutions, which own a total of 20 percent of the entity; private foundations, which own 30 percent; and individual investors, which own 50 percent. The financial institutions are UBI – Banco di Brescia SpA, Fondazione Cassa di Risparmio di Trento e Rovereto, Oltre SpA, Finanziaria di Valle Camonica SpA, ISA – Istituto Atesino di Sviluppo SpA, Finance & Development Srl and ISI Holding. The two private foundations are Fondazione Maria Enrica and Fondazione Peppino Vismara. As of 2008, the fund reported total fund assets of EUR 20 million (approximately USD 27.6 million).
About Swadhaar Finserve:
Swadhaar FinServe is a subsidiary non-banking financial company of Swadhaar FinAccess that caters to the urban poor in India. Based in Mumbai, India, Swadhaar Finserve provides microcredit and microinsurance services to low-income groups. According to the Microfinance Information Exchange (MIX), the microfinance information clearinghouse, Swadhaar Finserve reported a gross loan portfolio of USD 4.4 million, total assets of USD 6.3 million and 27,391 active borrowers as of 2009.
By Trevor Kwong, Research Assistant
Sources and Additional Resources:
[1] MicroVentures: MicroVentures India disburses a loan to Swaadhar Finserve
http://www.micro-ventures.eu/dettnews.aspx?id=85
[2] MicroCapital Universe: Swadhaar Finserve:
[3] MicroCapital Universe: MicroVentures SpA:
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=MicroVentures+SpA
Browse the MicroCapital Universe and add your entry to the wiki at https://www.microcapital.org/microfinanceuniverse/tiki-index.php
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