Unitus Seed Fund, a venture capital fund with offices in Bangalore, India, and the US City of Seattle, recently secured USD 7 million from multiple investors, bringing its fund size to USD 20 million.
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MICROCAPITAL BRIEF: Unitus Labs Launches Unitus Seed Fund, to Invest in Small Anti-Poverty Enterprises in India
Unitus Labs, a US-based nonprofit that aims to reduce poverty via economic empowerment, has recently launched the Unitus Seed Fund, a venture fund that will invest in start-up enterprises in India.
MICROCAPITAL BRIEF: Gray Matters Capital Invests Equity in Unitus Capital
Unitus Capital (UC), a Bangalore-based financial services firm that specializes in capital market services for microfinance institutions (MFIs) and other social enterprises in Asia, recently announced that Gray Matters Capital (GMC), a US-based private foundation, invested an undisclosed amount in UC to fund social businesses that both assist poor clients and generate financial returns.
MICROCAPITAL BRIEF: Electronic Network Cash Tellers (ENCASH) Raises $2.56m from Funds Managed by Incofin, responsAbility to Deploy ATMs in the Philippines
Rural Impulse Funds II SA and responsAbility Ventures I, funds managed by Belgium’s Incofin Investment Management and Switzerland’s responsAbility Social Investments AG, respectively, recently infused a total of USD 2.56 million in equity capital into Electronic Network Cash Tellers Incorporated (ENCASH), a Philippines-based automatic teller machine (ATM) distributor [1].
MICROCAPITAL BRIEF: Swadhaar FinServe Private Limited to Receive $5.9m in Equity from ACCION International, Unitus Equity Fund, Michael and Susan Dell Foundation, MicroVest, an Indian Family Trust and Swadhaar’s Promoter Group
Swadhaar FinServe Private Limited, a Mumbai-based microfinance institution (MFI) with total assets of USD 2.1 million as of 2008, recently announced that it will receive INR 27.5 crore (equivalent to USD 5.9 million) in equity from several different investor organizations and private investors.
MICROCAPITAL STORY: Grama Vidiyal Micro Finance Limited (GVMFL) Raises USD 4.25 million from MicroVest, Unitus Equity Fund, and Amar Foundation
In its second round of fundraising, Grama Vidiyal Micro Finance Limited, a microfinance institution (MFI) based in Tamil Nadu, India, raised USD 4.25 million from MicroVest, Unitus Equity Fund, and the Amar Foundation.
MICROCAPITAL STORY: Nonprofit Unitus Launches For-profit Financial Advisory Firm ‘Unitus Capital’
Unitus, Inc., an international nonprofit that seeks to advance market-based solutions to poverty, recently launched Unitus Capital, a for-profit financial advisory firm that aims to connect capital market investors with social enterprises focused on creating both social and financial returns. Operating as a legally independent, for-profit institution, Unitus Capital represents the transformation of nonprofit Unitus’ capital markets business unit. It will remain a strategic affiliate of Unitus. The nascent institution has received USD 5.5 million in seed funding from private investors including WEGA Support GmbH, Robert Gay, co-founder and CEO of H&G Capital Partners, and William S. Price III, Founding Partner of Texas Pacific Group. Unitus Capital did not disclose its number of employees; nonprofit Unitus currently employs 21-100 individuals, according to nonprofit research firm GuideStar. The firm’s Managing Directors include Kylie Charlton and Eric Savage, both founding members of Unitus Capital. Both Charlton and Savage were most recently employees of nonprofit Unitus’ capital markets unit. Before Unitus, both worked for Citigroup in separate investment banking units. For a complete profile on Unitus Capital’s management team, please click here.
MICROCAPITAL BRIEF: Sonata Finance of India Raises $6m in Equity from Creation Investments, Michael and Susan Dell Foundation, Individual Investors
Sonata Finance Private Limited, an Indian microfinance institution (MFI) that serves India’s northern states, recently announced that it has closed a Series D equity raise of INR 350 million (USD 6.71 million).
MICROCAPITAL BRIEF: Paper Gains on Early Investment in SKS Microfinance Largely Evaporate For Sequoia Capital
Since its initial investment in SKS Microfinance, an India-based microfinance institution (MFI), Sequoia Capital, a US-based venture capital firm, has experienced significant gains on paper followed by partial losses of those gains.
MICROCAPITAL BRIEF: Indian Microfinance Institution Grameen Koota Raises $4.2m from MicroVest Purchase of Non-convertible Debentures (NCDs)
Grameen Financial Services Private Limited, an Indian microfinance institution also known as Grameen Koota, has raised INR 20 crore (USD 4.27 million) from a sale of secured, redeemable, non-convertible debentures (NCDs) to MicroVest I LP, a US-based private equity fund.
CGAP Microfinance Dealbook: May 2009 Transactions
The CGAP Microfinance Dealbook publicizes microfinance capital market transactions in an effort to bring greater transparency to the industry. This information is made freely available as a public service. Parties to microfinance transactions are encouraged to submit their deals to this effort. The following deals were collected for May 2009:
MICROCAPITAL STORY: Pochampally Chenetha Kalanetha Collectives, Samhita Microfinance and Synergics Awarded at the 2008 Srijan Microfinance Business Plan Competition hosted by Intellecap, Standard Chartered Bank, Aavishkaar Goodwell and Financial Express
Srijan recently announced the winners of its 2008 Business Plan Competition, reported by MicroCapital here. Cash prizes were given to the top three contestants, with the first prize sponsored specifically by Standard Chartered Bank. The winners will also have the opportunity to meet investors, though Srijan has not yet specified which investors. All finalists will be able to create accounts on the India Development Gateway Portal, as reported here by MicroCapital.