by Jennifer Young -

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.

by Charlotte Newman -

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.

by Kristha Abores -

MICROCAPITAL BRIEF: Indian Microfinance Institution Ujjivan Financial Services Raises $25m in Equity from FMO, Wolfensohn, LOK, IFIF, Sequoia, Unitus, Elevar

Indian microfinance institution (MFI) Ujjivan Financial Services has raised INR 127.9 crore (USD 25 million) in its fifth round of equity financing.

by Rohan Trivedi -

MICROCAPITAL BRIEF: LeapFrog Partners With Unitus Capital Looking to Invest $40m to Increase Microinsurance Penetration in India

LeapFrog Investments, a US-based private equity fund focusing on microinsurance activities, is reportedly looking for opportunities to deploy up to USD 40 million in India.

by Jennifer Shevock -

MICROCAPITAL BRIEF: Unitus CEO Joseph Grenny Answers Questions Regarding Change in Strategy, Use of SKS Microfinance Initial Public Offering Proceeds

Mr Joseph Grenny, CEO of Unitus Inc., a US-based international nonprofit organization, recently responded to concerns regarding its announcement that it will be discontinuing its microcredit operations and regarding the use of its proceeds from the initial public offering of SKS Microfinance.

by Matthew Fox -

MICROCAPITAL BRIEF: Microfinance Consultant, Adam Sorensen, Questions Unitus’ Decision to Cease Microfinance-Related Activities

Microfinance consultant and Seattle native, Adam Sorensen, recently commented on the closure of the nonprofit organization Unitus, which is based in the US city of Seattle. As MicroCapital reported on July 8, 2010, Unitus has recently announced that it will discontinue its microfinance-related activities and will direct its remaining assets to ‘new early-stage, poverty-focused philanthropic activities.’ Mr Sorensen recently commented in the Seattle Times Newspaper about the closure of Unitus’ offices. He argues that Unitus represented a different kind of nonprofit in the microfinance industry, one that advocated for commercial capital. He notes that in 2009 roughly 50 percent of total funding for the microfinance industry came from donors and investors. Given Unitus’ preference for commercial capital, Mr Sorensen asserts that it “promised better results by bringing commercial discipline and business practices cultivated by the leading companies that it often recruited [staff] from.”

by Jennifer Shevock -

MICROCAPITAL BRIEF: Unitus Equity Fund Investment in SKS Microfinance Valued at $60m, Partial Exit Expected This Week

Unitus Equity Fund, a privately-funded microfinance investment fund affiliated with Unitus Inc., a United States-based nonprofit, is reportedly expected to reduce its shareholdings in SKS Microfinance this week by selling approximately 1 million shares during SKS Microfinance’s initial public offering (IPO), which has been covered by MicroCapital several times since March 29, 2010.

by Julia Korn -

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.

by Julia Korn -

MICROCAPITAL BRIEF: Unitus to Discontinue Microfinance-Related Activities to Focus on Other Poverty Alleviation Strategies, Will Release 40 Staff Members in India, Kenya, United States

Unitus, an international nonprofit organization that provides funding and consulting services to microfinance institutions, has recently announced that it will be discontinuing its microfinance-related activities and will direct its remaining assets to “new early-stage, poverty-focused philanthropic activities” [1].

by Julia Korn -

MICROCAPITAL BRIEF: Mimoza Enterprises Finance (Mimo) Receives $1.5m Loan from Unitus Incorporated, US Overseas Private Investment Corporation (OPIC) and Citi Microfinance

Mimoza Enterprises Finance (Mimo), an Indian microfinance institution (MFI) with a gross loan portfolio of USD 5.1 million, has received a loan of USD 1.5 million from Unitus Incorporated, an international nonprofit organization that provides funding and consulting services to microfinance institutions.

by Matthew Castner -

MICROCAPITAL BRIEF: Second Annual Unitus-Hewitt Compensation And Benefits Survey of Indian Microfinance Institutions Demonstrates Salary Stability

The Unitus-Hewitt Compensation And Benefits Survey, released in early June, has demonstrated stability in the microfinance industry during the 2009 economic crisis. The study examined cash and non-cash benefits at 15 microfinance institutions (MFIs) representing 10 million clients across India. The study was jointly executed by Unitus Inc., an international nonprofit providing funding and consulting services to MFIs, and Hewitt Associates, an international human resources consulting firm.

by Eric McKay -

MICROCAPITAL BRIEF: Unitus, US Overseas Private Investment Corporation (OPIC) and Citi Microfinance Finalize $15m Credit Facility for Microfinance Institutions

Unitus Inc., an international nonprofit organization that supports microfinance institutions (MFIs); the US Overseas Private Investment Corporation (OPIC), a US government agency that invests in international development projects; and Citi Microfinance, Citi’s organization that aims to support MFIs, recently finalized a USD 15 million credit facility that aims to help foster growth among MFIs.

by Diya Chopra -

MICROCAPITAL.ORG STORY: Microfinance Institutions Jamii Bora Trust and Unitus Team Up to Build Eco-Friendly Town in Kenya

Jamii Bora Trust, a Kenya-based microfinance institution (MFI), has teamed up with Seattle, Washington-based non-profit MFI Unitus to launch an ecologically friendly town in Kenya, Africa. It is estimated that approximately 2, 500 families will purchase homes with microloans in Kaputei, a 160-hectare plot of land located 22 miles (36 kilometers) away from Kenya’s capital, Nairobi. In June 2009, 700 homes had been built, or in the process of being built. By the end of the project, 2, 000 homes are expected to be constructed.