Olympus Capital Asia, a private equity firm with offices in Hong Kong, New Delhi, Seoul, Shanghai, Singapore and New York, recently invested USD 30 million in equity in CreditAccess Asia, a Dutch operator of microfinance institutions (MFIs) in India, Indonesia and the Philippines, aiming to help expand CreditAccess Asia’s retail lending services. As a condition of this transaction, a representative from Olympus Capital Asia will hold a seat on CreditAccess Asia’s board.
Olympus Capital Asia’s Managing Director, Daniel Mintz, stated “We are very excited to be partnering with CreditAccess Asia, which is very well positioned for the growth opportunities within the unbanked sector by offering fair and stable access to credit and other financial services” [1]. The CEO of CreditAccess Asia, Paolo Brichetti, commented “Given [Olympus Capital Asia’s] deep experience in financial services and presence in our key markets of India and South East Asia, Olympus Capital Asia is an ideal partner to help accelerate our growth plans driven by tapping new geographical markets in Asia and via the expansion of our product range to meet our clients’ needs” [1].
Since its inception in 1997, Olympus Capital Asia has invested approximately USD 2 billion in 40 businesses in China, India, Japan, South Korea and various countries in Southeast Asia. As of January 2016, the companies run by CreditAccess Asia have a gross loan portfolio of USD 240 million and serve approximately 1.3 million clients
By Meredith Steih, Research Associate
About Olympus Capital Asia
Founded in 1997, Olympus Capital Asia is a private equity firm that focuses on financial services, the environment and healthcare. Since its inception, the firm has invested approximately USD 2 billion in 40 businesses in China, India, Japan, South Korea and various countries in Southeast Asia.
About CreditAccess Asia
Established in 2007, CreditAccess Asia is an operator of microfinance institutions in India, Indonesia and the Philippines. As of January 2016, the companies run by CreditAccess Asia have a gross loan portfolio of USD 240 million and serve approximately 1.3 million clients.
Sources and Additional Resources:
[1] Information provided to MicroCapital directly by Olympus Capital Asia
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