US-based asset manager MicroVest recently reported lending EUR 4 million (USD 4.25 million) to RoCredit, a nonbank financial institution serving small and medium-sized enterprises (SMEs) in Romania. Established in 2007 and located in the Romanian city of Baia Mare, RoCredit offers products such as credit lines, term loans and factoring services. For 2021, the institution reported RON 34 million (USD 7.7 million) in net operating income on total assets of RON 350 million (USD 80 million).
MicroVest was founded in 2003 and specializes in channeling investments to funders of microenterprises and SMEs in low- and middle-income countries. The firm manages a portfolio that was valued at USD 519 million as of 2021.
MicroVest is owned by DAI Global, an employee-owned firm that is active in 100 countries in areas such as “economic development, sustainable business, climate change and the environment, governance, gender, and health.” The firm is based in the US and has 16 offices and 5,000 employees as of 2022.
By Vaughn Rajah, Research Associate
Sources and Additional Resources
MicroVest press release
https://microvestfund.com/microvest-invests-eur-4-million-in-rocredit-to-support-small-business-development-in-romania
RoCredit homepage
https://rocredit-ifn.ro
RoCredit financials
https://rocredit-ifn.ro/documente-sedinte-aga
DAI Global homepage
https://www.dai.com
Do you know that MicroCapital publishes the MicroCapital Monitor newspaper each month? Download a sample at https://www.microcapital.org/products-page/.
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