Two US-based firms involved in international development announced yesterday that they have agreed to become one organization. Employee-owned DAI is paying an undisclosed sum to acquire MicroVest Capital Management, which was founded in 2003 and specializes in channeling loans to funders of micro-, small and medium-sized enterprises in low- and middle-income countries. MicroVest manages a portfolio valued at USD 519 million as of June 2021.
“Promoting sustainable development on a scale that truly makes a difference to people and planet requires mobilizing vastly greater sums of private funds,” said Elizabeth Littlefield, a member of the DAI Board of Directors. “The marriage of DAI’s global development expertise and MicroVest’s investment acumen is the right intersection of the right networks at the right time.”
DAI is active in 100 countries in areas such as “economic development, sustainable business, climate change and the environment, governance, gender, and health.” The firm employs about 5,400 people as of May 2020.
Sources and Additional Resources
DAI press release
https://www.dai.com/news/dai-acquires-international-asset-management-firm-microvest
MicroVest press release
https://microvestfund.com/microvest-joins-dai/
More news on MicroVest
https://www.microcapital.org/?s=MicroVest
Did you know that MicroCapital publishes the MicroCapital Monitor newspaper each month? Find out more at https://www.microcapital.org/products-page/.
Similar Posts:
- MICROCAPITAL BRIEF: Michael Apel Named CEO of DAI’s MicroVest Asset Management
- MICROCAPITAL BRIEF: MicroVest Loans $4.5m to Financiera FAMA for MSMEs in Nicaragua
- MICROCAPITAL BRIEF: MicroVest Loans $4.2m to RoCredit for SME Financing in Romania
- MICROCAPITAL BRIEF: Annapurna of India Borrows $10m from MicroVest to Expand Microfinance for Rural Women
- MICROCAPITAL BRIEF: MicroVest Lending $3.4m to Financiera Finexpar for Agriculture, SME Lending in Paraguay
