by A'kos Szebeni -

MICROCAPITAL BRIEF: India’s IntelleGrow Completes Second Round of Financing, Raising $4.6m from Omidyar Network, Michael and Susan Dell Foundation

IntelleGrow, an India-based lender to small and medium-sized enterprises (SMEs), recently announced that it raised INR 250 million (USD 4.1 million) from Omidyar Network, a US-based social investment firm, and INR 30 million (USD 500,000) from the Michael and Susan Dell Foundation, a US-based nonprofit institution, in return for stakes in the company of undisclosed size.

by Adrija Vaiciulionis -

MICROCAPITAL BRIEF: Ujjivan Financial Services Raises $7.9m from Oikocredit for On-Lending to Microfinance Clients

Ujjivan Financial Services, a Bangalore-based microfinance institution, has raised INR 500 million (USD 7.9 million) of debt capital from Oikocredit, a Dutch cooperative investment fund, for on-lending to microfinance clients in an effort to support economic development in poor Indian communities.

by Jennifer Young -

MICROCAPITAL BRIEF: Caspian Advisors Launches $40m Caspian Impact Investments (CII) Fund for Microfinance, Affordable Housing, Agriculture

Caspian Advisors Private Ltd., an Indian investment management and advisory services company specializing in the socially-responsible arena, recently launched the Caspian Impact Investments (CII) fund, which is targeted to raise USD 40 million for projects in the areas of microfinance, small business financing, affordable housing and agriculture.

by Nicole Boyd -

MICROCAPITAL BRIEF: Indian Microfinance Institution Satin Creditcare Sells 20% Equity Stake for $8m from Danish Microfinance Partners, MicroVest II, ShoreCap II; Lok Capital Exits

Indian microfinance institution (MFI) Satin Creditcare Network Limited recently raised INR 410 million (USD 7.5 million) by selling a stake of approximately 20 percent to three microfinance investment funds in undisclosed portions: Danish Microfinance Partners K/S (DMP), MicroVest II LP and ShoreCap II Limited.

by Sarah Benali -

MICROCAPITAL BRIEF: India’s Ujjivan Raises $9m in Equity from International Finance Corporation (IFC), Netherlands Development Finance Company (FMO)

Ujjivan Financial Services, a microfinance institution (MFI) based in India, recently raised INR 450 million (USD 8.55 million) in equity capital from the International Finance Corporation (IFC), the private-investment arm of the World Bank Group.

by Charlotte Newman -

MICROCAPITAL BRIEF: Citi Foundation Grants $180k to Parinaam Foundation of India to Provide Financial Literacy Training to Clients of Microfinance Institution Ujjivan

Citi Foundation, the charitable arm of the US-based financial provider Citigroup, reportedly has given a grant of INR 10 million (USD 180,000) to Parinaam Foundation, an Indian nonprofit organization, to deliver Parinaam’s Diksha Financial Literacy Program to approximately 31,000 microfinance clients.

by Courtney Snelling -

MICROCAPITAL BRIEF: Singapore Totalisator Board, POSBank, Social Enterprise Hub Launch $4m MicroCredit Business Scheme (MCBS)

With seed capital of SGD 5 million (USD 3.96 million) from the Singapore Totalisator Board, a quasi-governmental gaming commission also known as the Tote Board, POSBank (POSB), a commercial bank in Singapore, and Social Enterprise Hub, an incubator of social enterprises in Singapore, have launched the MicroCredit Business Scheme (MCBS) to provide loans to citizens of Singapore with annual incomes lower than SGD 30,000 (USD 23,800).

by Aaron Wee -

MICROCAPITAL BRIEF: 15 Additional Microfinance Investment Funds Commit to Global Impact Investment Ratings System

Fifteen investment funds, representing approximately USD 550 million in capital, have committed to utilize GIIRS (Global Impact Investment Ratings System) ratings, a system for assessing the social and environmental impact of investment funds. The investment funds will become members of the GIIRS Pioneer Funds, which have agreed to be among the first forty funds to receive a GIIRS Impact Rating.

by Rohan Trivedi -

MICROCAPITAL BRIEF: Indian Microfinance Institution (MFI) Janalakshmi Raises $14m in Equity Led by Citi Venture Capital International (CVCI)

Janalakshmi Financial Services (JFS), an Indian microfinance institution (MFI), has raised INR 65 crores (USD 14 million) through a third round of equity capital fundraising. Citi Venture Capital International, a US-based private equity investor affiliated with Citigroup, has taken a “significant minority stake” in JFS that reportedly represents its first investment in India since 2008.

by Diana Baide -

MICROCAPITAL BRIEF: CGAP (Consultative Group to Assist the Poor) Grants Transparency Certificates to Microfinance Investment Vehicles (MIVs) That Adhere to Environmental, Social and Governance (ESG) Standards

CGAP (Consultative Group to Assist the Poor), a policy and research center dedicated to enhancing financial access for the world’s poor, has announced its granting of Transparency Certificates to several microfinance investment vehicles (MIVs) that are in compliance with its environmental, social and governance (ESG) guidelines for MIVs.

by Jennifer Shevock -

MICROCAPITAL BRIEF: Indian Microfinance Institution Trident Planning to Raise $16m in Equity Financing

Trident Microfin Private Limited (formerly known as Annapurna Financial Services Private Limited), an Indian microfinance institution, recently announced it plans to raise INR 750 million (USD 16 million) in equity financing from high-net-worth individuals and two existing investors, Caspian Advisors’ Bellwether Microfinance Fund and the India Financial Inclusion Fund, both of which are India-focused equity investment funds.

by Jennifer Shevock -

MICROCAPITAL BRIEF: Indian Microfinance Institutions Shifting to Monthly Loan Repayment Schedule

Indian microfinance institutions (MFIs) are offering loan products with monthly repayment plans as opposed to weekly payment terms, and according to a recent article more Indian microfinance institutions are considering offering products with monthly payment terms [1].

by Zoran Stanisljevic -

MEET THE BOSS: Discussions on Microfinance Investment Vehicles (MIVs) and Impact Investing: Interview with Paul DiLeo, Co-Founder and Managing Partner of Grassroots Capital

Paul DiLeo, Managing Partner at Grassroots Capital, plays a role in attracting private capital to the company, creating investment vehicles to address market gaps and raising funding to support new initiatives.  Mr. DiLeo launched and now co-manages the Global Microfinance Equity Fund and the Gray Ghost Microfinance Fund, which is a private, for-profit microfinance fund originally established to demonstrate the viability of microfinance investment.  He obtained his bachelor’s degree from the University of Massachusetts (US), has a master’s degree from Boston University (US) and completed studies in business accounting and finance at New York University (US).