Overview:
The ACCION Gateway Fund, LLC invests directly in regulated microfinance institutions or non-profit organizations that are transforming into regulated microfinance institutions.
Description:
ACCION aims to generate long-term capital gains and current income through investments in equity, quasi-equity and medium-term debt securities issued by microfinance institutions (MFIs), which are retail micro-lenders, in Latin America, the Caribbean, and India. The fund currently holds shares in MFIs in Bolivia, Columbia, El Salvador, Haiti, India, Mexico, Panama, Paraguay, Peru, and Venezuela. Notable investments have included the microfinance institutions Compartamos of Mexico and SogeSol of Haiti.
Microfinance Information Exchange (MIX) Profile:
http://www.mixmarket.org/funders/accion-gateway-fund
Organization’s Website:
http://www.accion.org/Page.aspx?pid=270
Just the Facts:
Country of Incorporation: United States
Year Founded: 1996
Legal Status: Limited Liability Company
Committed Capital (as of day/month/year): USD 5.1 million (as of 31/May/05)
Fund Assets Allocated to MFI Investment (as of day/month/year): USD 5.1 million (as of 31/May/05)
Number of MFI Investments (as of day/month/year): 9 (as of 31/May/05)
Area of Operation: Latin America and the Caribbean
Participant(s)/Backer(s)/Investor(s): ACCION International – Parent company , CGAP, USAID
Fund Currency: USD
Investment Horizon: 10 years
Fund Manager: Gateway ACCION International Manager
Contact Information:
Boston, MA, USA
56 Roland Street
Suite 300
Boston, MA 02129 USA
Tel: (617) 625-7080
Fax: (617) 625-7020
Additional Resources:
ACCION Takes Equity Stake in Saija Finance, a Microfinance Institution Serving India’s Poorest (November 2009)
http://www.webnewswire.com/node/480989
Mexican Microfinance Investment Bank Compartamos Will Sell Shares at $0.42 Each, for a Total of $15.25 Million (February 2006)
https://www.microcapital.org/mexican-microfinance-investment-bank-compartamos-will-sell-shares-at-042-each-for-a-total-of-1525-million/
Mexico’s Largest Microfinance Bank Taps Global Equity Markets in the First IPO by a Latin American Microcredit Lender (April 2007)
http://www.milbank.com/en/NewsEvents/PressRelArch/Mexico_Largest_Microfinance_Bank_Taps_Global_Equity_Markets_in_the_First_IPO_by_a_Latin_American_Mic.htm
Link to Microcapital Universe, Your Wiki for Microfinance and More:
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=ACCION+Gateway+Fund%2C+LLC
Authored by Kenny Kline, Research Associate
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