Aavishkaar Goodwell, a company that provides equity finance for microfinance institutions (MFIs), is attempting to secure commitments to raise USD 100 million for its second fund.The fund is expected to seek investments from current investors such as the International Finance Corporation, the investment arm of the World Bank; Blue Orchard, a private equity fund; Netherlands Development Finance Company (FMO), a public-private development bank; and Deutsche Bank, a German commercial bank. Besides microfinance, the fund will invest in technology related to social ventures and housing finance. Aavishkaar Goodwell’s first fund, which closed in May of 2008, raised USD 18.3 million.
By Christopher Maggio, Research Assistant
About
Aavishkaar Goodwell India Microfinance Development Company Ltd
Description
Aavishkaar Goodwell India Microfinance Development Company Ltd is a for-profit business development company that provides equity finance and support to entrepreneurial microfinance organizations in India. Aavishkaar Goodwell is building a portfolio of USD 25 million in 30-40 microfinance start-ups and 8-10 fast growing institutions. For microfinance start-ups, Aavishkaar Goodwell partners with the IntelleCap financing program. The franchising program aims to reach out to 10 million clients and add USD 1 billion of outstanding loans by 2010. Aavishkaar Goodwell is a Indian-Dutch joint venture. The investment team in India invests alongside the team that manages Aavishkaar India Micro Venture Capital Fund. The Dutch microfinance private equity company Goodwell Microfinance Development Company is the lead investor in Aavishkaar Goodwell, along with development financial institutions and commercial banks, including the Netherlands Development Finance Company (FMO), the International Finance Corporation, and Deutsche Bank.
MicroCapital’s Microfinance Universe profile: Aavishkaar Goodwell
Just the Facts
– Country of Incorporation: Mauritius
– Year Founded: 2006
– Legal Status: Global Business License 1 Company
– Fund Assets (as of day/month/year): USD 18.3 million (As of May/09)
– Fund Assets Allocated to MFI Investment (as of day/month/year): USD 18.3 million (As of May/08)
– Number of MFI Investments (as of day/month/year): 8 (as of May/09)
– Area of Operation: India
– Participant(s)/Backer(s)/Investor(s): Goodwell
– Instruments: Equity
– Fund Currency: USD
– Investment Horizon: 5-7 years
– Fund Manager: Aavishkaar International
Contact Information
Aavishkaar Goodwell India Microfinance
Development Company Ltd
Level Six, One Cathedral Square
Jules Koenig Street
Port Louis, Mauritius
Tel: +230 207 1016
Additional Resources:
VC Circle article entitled ‘Aavishkaar Goodwell Hits Road To Raise $100M Fund’: http://www.vccircle.com/500/news/aavishkaar-goodwell-hits-road-to-raise-100m-fund
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