responsAbility Microfinance Leaders Fund and responsAbility Global Microfinance Fund have executed respective equity investments of USD 411,000 and USD 339,000 in MIVs that invest primarily in Indian microfinance institutions (MFIs) according to a report submitted to MicroCapital.
responsAbility Microfinance Leaders Fund reports total assets of USD 193.3 million as of 2009, and responsAbility Global Microfinance Fund has total assets of USD 358.3 million as of 2009. responsAbility also operates the responsAbility Base of the Pyramid and About responsAbility Mikrofinanz-Fonds.
The Indian Financial Inclusion Fund (IFIF), a microfinance investment vehicle (MIV) founded in 2008 and based in Mauritius, reports fund assets of USD 90 million and an MFI investment portfolio of 30 million. The MIV received USD 172,000 from responsAbility Global Microfinance Fund and USD 76,200 from responsAbility Microfinance Leaders Fund.
LOK Capital, a MIV founded in 2006 and based in Mauritius, reports fund assets of USD 22 million and allocation to MFI investment of USD 7.6 million. The MIV received USD 167,000 from responsAbility Global Microfinance Fund and USD 335,000 from responsAbility Microfinance Leaders Fund.
About responsAbility Microfinance Leaders Fund:
The responsAbility Microfinance Leaders Fund (rAMLF) invests in large microfinance institutions (MFIs) through debt securities and equity investments. Investments range from USD 50,000 to USD 1.5 million. It is also certified by LuxFLAG as of April 2010.
About responsAbility Global Microfinance Fund:
The responsAbility Global Microfinance Fund (rAGMF) invests in microfinance institutions (MFIs) and microfinance investment vehicles (MIVs), mostly through short- to medium-term debt securities. rAGMF also invests up to 10 percent of its assets in the equity of MFIs. It is also certified by LuxFLAG as of April 2010.
About India Financial Inclusion Fund (IFIF):
The India Financial Inclusion Fund (IFIF) is an offshore fund based in Mauritius that focuses on equity investments in Indian microfinance institutions (MFIs) and other providers of financial services to the poor such as low-cost housing providers and technology companies in the microfinance industry. The fund is advised by Caspian Advisors Private Limited, an investment management company that specializes in microfinance investment funds. IFIF also provides technical advice and risk capital.
About Lok Capital:
Lok Capital LLC is a limited-life, limited-liability company based in Mauritius that provides equity and equity-linked investments to microfinance institutions (MFIs) in India. The fund was launched in 2006 with USD 22 million. Investors include ACCION International, Commonwealth Development Corporation (CDC), Developpement International Desjardins, Netherlands Development Company (FMO), International Finance Corporation (IFC), KfW, and responsAbility. The average investment size ranges from USD 500,000 to USD 3 million. The Lok Foundation was created along with Lok Capital LLC to provide specialized technical assistance to Indian MFIs.
Additional Resources:
MicroCapital’s Microfinance Universe profile:
responsAbility Microfinance Leaders Fund: https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=responsAbility+Microfinance+Leaders+Fund+(rAMLF)
MicroCapital’s Microfinance Universe profile: responsAbility Global Microfinance Fund: https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=responsAbility+Global+Microfinance+Fund+%28rAGMF%29
MicroCapital’s Microfinance Universe profile: Indian Financial Inclusion Fund (IFIF) https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=India+Financial+Inclusion+Fund+%28IFIF%29
MicroCapital’s Microfinance Universe profile: Lok Capital: https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Lok+Capital+LLC
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