MICROCAPITAL BRIEF: WestBridge, Sequoia, Nexus Place $30m in Equity in India Shelter Finance

WestBridge Capital, an investment company with offices in India, Mauritius and the US, is making its first investment in the India Shelter Finance Corporation, which was formerly known as Satyaprakash Housing Finance India Limited. WestBridge will invest USD 18 million in the firm, and Sequoia Capital and Nexus Venture Partners, which are previous shareholders in India Shelter, will invest an additional total of USD 12 million. The sizes of the stakes to be held by each investor have not been disclosed.

India Shelter offers loans for housing improvements and construction that average INR 330,000 (USD 5,300) with terms of up to 15 years. The firm holds a loan portfolio of INR 1.4 billion (USD 23 million) disbursed via 32 branches.

WestBridge manages approximately USD 1.2 billion in assets. US-based Sequoia, which does not release its financials, manages assets estimated to total USD 2.4 billion. Nexus, which has offices in India and the US, focuses on firms serving India and other developing markets. Its 58 investees have accepted investments of up to USD 10 million each from Nexus.

By the MicroCapital Team

Sources and Other Resources:

Deal Curry: http://www.dealcurry.com/20150119-Westbridge-Existing-Investors-Invest-In-Housing-Finance-Company-India-Shelter-Finance.htm

Sequoia Capital Profile on the MicroCapital Universe: https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Sequoia+Capital

WestBridge Capital Profile on the MicroCapital Universe: https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=WestBridge+Capital

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