Sun Microsystems founder, Vinod Khosla, Leads Charge in India’s Largest Microfinance Equity Investment to Date, Joining with Unitus and Others in Investing US$2.5 million in SKS Microfinance

Sun Microsystems (NASDAQ: SUNW) founder and Chief Executive Officer, Vinod Khosla, lead a group of investors today in committing US$2.5 million to SKS Microfinance of India. Founded in 1998, SKS Microfinance reported having a loan portfolio of US$7,604,876 and total assets of US$9,130,885 as of March 31, 2005. Since then, that portfolio has grown to over US$14 million. The bank’s 42 branches and 400+ employees serve women in India’s poorest regions, in particular, the drought plagued Deccan Region. Though it has yet to report a profit, SKS Microfinance has brought its return on equity up from -55.85% in 2000 to only -0.06% in the first quarter of 2005. With annual growth pegged consistently at around 250%, a positive return should be just around the corner.

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