by Eric McKay -

MICROCAPITAL BRIEF: LeapFrog Investments Microinsurance Fund Raises Additional $65m in Commitments from International Finance Corporation (IFC), KfW, Flagstone Reinsurance, and Soros Economic Development Fund

LeapFrog Investments, an international for-profit microinsurance fund, recently announced that it had raised an additional USD 65 million in commitments, bringing the fund’s total to USD 112 million.

by Sally Levy -

MICROCAPITAL.ORG STORY: BRAC, Soros Economic Development Fund (SEDF), Open Society Initiative for West Africa (OSIWA), Omidyar Network and Humanity United Form $15m Microfinance Partnership in Sierra Leone and Liberia

For discussion of this topic click here:  http://microfinanceassociation.ning.com/forum/topics/deals-in-microfinance-the

The Bangladesh Rural Advancement Committee (BRAC), an international non-government organization (NGO), will lead a partnership worth USD 15 million in Sierra Leone and Liberia to provide microfinance, healthcare and agricultural support [1, 2]. The Soros Economic Development Fund (SEDF), Open Society Initiative for West Africa (OSIWA), Omidyar Network and Humanity United are funding this project through a combination of grants and equity [1, 3, 4, 5, 6]. BRAC has opened 20 new microfinance branches since March 2009 in Sierra Leone and Liberia, with the first loan being issued in June, and aims to open 20 more by the end of the year [1]. During the two year pilot program it aims to provide loans to tens of thousands of women in these two West Africa countries [1]. Furthermore the project will provide agricultural supplies, training to farmers and 400 community based health volunteers [1].  

by Sarah Knapp -

MICROCAPITAL STORY: Moldovan Microfinance Institution (MFI) Microinvest Receives Investments totaling $5.5m from Oikocredit, Soros Economic Development Fund (SEDF), the Balkan Financial Sector Equity Fund (BFSE) and Richard Driehaus

Recent investments totaling the equivalent of USD 5.5 million have been made to Moldovan microfinance institution (MFI) Microinvest by its shareholder’s: Oikocredit, Soros Economic Development Fund (SEDF), the Balkan Financial Sector Equity Fund (BFSE) and Richard Driehaus. Oikocredit contributed the equivalent of USD 1.3 million, SEDF the equivalent of USD 834,055, BFSE the equivalent of USD 2.98 million and Richard Driehaus the equivalent of USD 367,995. The investments led to an increase in Microinvest’s authorized capital to the equivalent of USD 7.5 million. Microinvest aims to expand technology, products and services.

by the MicroCapital Team -

Soros Economic Development Fund (SEDF) Makes First Grant in Pakistan for USD 175,000 to Tameer Microfinance Bank Ltd.

The Soros Economic Development Fund (SEDF), a private non-profit foundation created to fight global poverty and aid in international development, has made its first grant to a microfinance institution in the amount of USD $175,000 to Tameer Microfinance Bank Ltd, Pakistan. Tameer Microfinance Bank, with 17 branches and an outstanding portfolio of USD $11 million, is the fastest growing micro-lending institution in Pakistan. They currently serve 21,000 people (21,000 borrowers and 17,000 depositors) and are projected to reach 750,000 in five years. Rating and other financial information was unavailable. Tameer Microfinance Bank does not report to The MIX Market, the microfinance information clearinghouse.

Continue reading “Soros Economic Development Fund (SEDF) Makes First Grant in Pakistan for USD 175,000 to Tameer Microfinance Bank Ltd.”

by Aakansha Shenoy -

MICROCAPITAL BRIEF: Kiva Refugee Investment Fund Closes with $32m to Scale Lending to Forcibly Displaced Persons, Host Communities Via Microfinance Institutions

The Kiva Refugee Investment Fund (KRIF), an entity controlled by the US-based NGO Kiva Microfunds, recently completed its first close, with USD 32.5 million raised from

by Tejas Jain -

MICROCAPITAL BRIEF: Green for Growth Fund, Southeast Europe (GGF) Lends $2m to Microinvest of Moldova for On-Lending to Micro-, Small Enterprises (MSEs)

The Green for Growth Fund, Southeast Europe (GGF), a Germany-based fund that invests in energy efficiency and renewable energy sources, has disbursed a senior loan of EUR 2 million (USD  2.6 million) to Microinvest, a microfinance institution (MFI) in Moldova that was founded by Soros Foundation – Moldova, an affiliate of the US-based Open Society Foundations.

by Aliz Crowley -

MICROCAPITAL BRIEF: Acumen Fund, Adolf H Lundin Charitable Foundation Invest $1.5m in Farmer Information Service Esoko Networks of Ghana to Expand into East Africa

The Acumen Fund, a New York-based nonprofit venture fund, and the Adolf H Lundin Charitable Foundation, a Liechtenstein-based nonprofit organization, have invested an aggregate sum of USD 1.5 million in an unspecified combination of equity and debt in Esoko Networks Limited (Esoko) of Ghana, a technology platform that aims to strengthen the connection between farmers and markets in Africa with the use of mobile phones.

by Megan McGowan -

MICROCAPITAL BRIEF: European Fund for Southeast Europe (EFSE) Loans $1.3m to Microfinance Institution Microinvest of Moldova

The European Fund for Southeast Europe (EFSE), a Luxembourg-based, government-backed microfinance investor that aims to foster regional development in southeastern Europe and parts of central Asia, recently announced that it has provided a loan of EUR 1 million (USD 1.3 million) to Microinvest, a microfinance institution (MFI) founded by the Soros Foundation in Moldova, to support micro- and small enterprises (MSEs) [1].

by Adrija Vaiciulionis -

MICROCAPITAL BRIEF: LeapFrog Raises $204m for Second Fund; to Invest in Microinsurance, Other Financial Services for Poor People in Africa, Asia

LeapFrog Investments, a Mauritius-based investor in financial services for poor people in emerging markets, has raised USD 204 million for its second equity fund.

by Christine Chang -

MICROCAPITAL BRIEF: LeapFrog Investments Microinsurance Fund Raises Additional $25m in Commitments from New Investors Including J.P. Morgan and TIAA-CREF

LeapFrog Investments, an international for-profit microinsurance fund, recently announced its final close raising USD 25 million for a total fund size of USD 137 million for investments in Africa and Asia.

by Romil Pandey -

MICROCAPITAL BRIEF: MFI Juhudi Kilimo of Kenya Upgrades Digital Infrastructure with Technical Assistance from Nordic Microfinance Initiative

The Nordic Microfinance Initiative (NMI), a Norway-based public-private partnership that supports microfinance institutions (MFIs) in developing countries, recently worked with Juhudi Kilimo, a for-profit microfinance institution in Kenya, to help it develop a mobile app that gives

by the MicroCapital Team -

MICROCAPITAL BRIEF: Microfinance Institution Juhudi Kilimo of Kenya Sells Equity Stake to Incofin CVSO for $2.4m

Juhudi Kilimo, a for-profit microfinance institution (MFI) in Kenya, recently sold an ownership stake of unspecified size for EUR 2.2 million (USD 2.4 million) to Incofin CVSO, a cooperative fund managed by Belgium-based Incofin Investment Management. Juhudi, which mainly serves rural areas, intends to use the new funding to

by Caroline Zhu -

MICROCAPITAL BRIEF: IFMR Holdings Raises $25m from Accion, LeapFrog, Lok Capital to Accelerate Financial Inclusion in India

IFMR Holdings, an arm of Indian nonprofit IFMR Trust, recently raised USD 25 million from Accion, a US-based nonprofit organization; LeapFrog Investments, a for-profit private equity fund based in Mauritius; and Lok Capital, an India-based microfinance investment vehicle.