LeapFrog Investments, an international for-profit microinsurance fund, recently announced that it had raised an additional USD 65 million in commitments, bringing the fund’s total to USD 112 million.
Category: Deals
MICROCAPITAL BRIEF: European Fund for Southeast Europe (EFSE), a Microfinance Investment Fund Based in Luxembourg, Signs its Largest Loan Agreement to Date, a $33m Senior Loan to Banca Intesa, Commercial Bank in Serbia, to be On-lent to Micro- and Small Enterprises (MSEs)
The European Fund for Southeast Europe (EFSE), a microfinance investment fund based in Luxembourg, has signed its largest loan agreement to date, a EUR 25 million senior loan, the equivalent of over USD 33.5 million, to Banca Intesa, a commercial bank in Serbia, which will be on-lent to micro- and small enterprises (MSEs).
MICROCAPITAL BRIEF: Apax Foundation, Charitable Arm of London-Based Private Equity Firm, Apax Partners, to Purchase 20-Percent Stake in Finance in Motion, Fund Adviser to European Fund for Southeast Europe (EFSE)
The Apax Foundation, the charitable arm of the London-based private equity firm, Apax Partners, has agreed to issue a capital increase to purchase a 20-percent stake in Finance in Motion, a Frankfurt-based asset management firm focused on development finance, including microfinance.
MICROCAPITAL BRIEF: SKS Microfinance Limited, Microfinance Institution (MFI) in India, Files to Raise $250m in Initial Public Offering (IPO)
There are now more details available regarding the much-anticipated initial public offering (IPO) of SKS Microfinance Limited, a microfinance institution (MFI) based in India, which MicroCapital covered most recently on March 9, 2010.
MICROCAPITAL BRIEF: State Bank of Pakistan (SBP) Launches Credit Guarantee Scheme for Small and Rural Enterprises Funded by United Kingdom’s Department for International Development (DFID) and Pakistan’s Financial Inclusion Program (FIP)
The State Bank of Pakistan (SBP), Pakistan’s central banking authority, recently launched two programs to increase the supply of credit to small and rural enterprises under its Financial Inclusion Program (FIP).
MICROCAPITAL BRIEF: State Bank of India, a Nationalized Commercial Bank, Provides $43.9m Loan to Hyderbad-Based Microfinance Institution (MFI), SHARE Microfin Limited
The State Bank of India (SBI), a nationalized commercial bank, has provided an INR 200 crore loan, the equivalent of over USD 43.9 million, to SHARE Microfin Limited, a microfinance institution (MFI) based in Hyderabad, India.
MICROCAPITAL BRIEF: University of Greenwich Issues Call for Papers for ‘Global Partnerships in Microfinance’ Conference, September 2010
The University of Greenwich, in collaboration with the University of Birmingham and Burgundy School of Business, has issued a call for papers for its Global Partnerships in Microfinance conference, taking place September 6 to September 7, 2010.
MICROCAPITAL BRIEF: Chennai-based Microfinance Institution SMILE Receives $10m Investment from Developing World Markets
Developing World Markets (DWM), a US-based social investment fund manager, has made an INR 500 million (USD 10 million) investment in SMILE Microfinance Limited (SMILE), a Chennai-based microfinance institution (MFI).
MICROCAPITAL BRIEF: United Kingdom’s Department for International Development (DFID) to Provide $12.1m to CGAP (Consultative Group to Assist the Poor) Technology Program to Promote Mobile Banking for the Low-Income Sector
The United Kingdom’s Department for International Development (DFID) will provide GBP 8 million, the equivalent of over USD 12.1 million, to the CGAP (Consultative Group to Assist the Poor) Technology Program.
MICROCAPITAL BRIEF: AccessBank, a Microfinance Institution (MFI) in Azerbaijan, Issues Shares Worth $24.8m
AccessBank, a microfinance institution (MFI) located in Azerbaijan, has issued shares worth AZN 20 million, the equivalent of over USD 24.8 million.
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).
MICROCAPITAL BRIEF: Janalakshmi Financial Services (JFS), a Microfinance Institution (MFI) Located in India, Raises $10m from Funders Including Tree Line Asia Master Fund (Singapore) Private Limited and Bellwether Microfinance Fund
Janalakshmi Financial Services (JFS), a microfinance institution (MFI) located in India, has raised INR 45.8 crore, the equivalent of over USD 10 million, in a second round of funding.
MICROCAPITAL BRIEF: SKS Microfinance, a Microfinance Institution (MFI) Based in India, Expected to File for Initial Public Offering (IPO) in Next Four Weeks
SKS Microfinance Limited, a microfinance institution (MFI) based in India, is expected to file for an initial public offering (IPO) in the next three to four weeks, according to three sources that news provider, Reuters, does not name.
MICROCAPITAL BRIEF: Standard Chartered, an International Commercial Bank, Provides $1.6m Loan to Mitra Bisnis Keluarga Ventura (MBK), a Microfinance Institution (MFI) Located in Indonesia
Standard Chartered, an international commercial bank headquartered in London, has provided an IDR 15 billion loan, the equivalent of over USD 1.6 million, to Mitra Bisnis Keluarga Ventura (MBK), a microfinance institution (MFI) located in Indonesia.
MEET THE BOSS: Discussions on Microfinance Investment Vehicles (MIVs): Interview with Gil Crawford, Chief Executive Officer of MicroVest Capital Management
Mr. Crawford is Chief Executive Officer of MicroVest Capital Management, responsible for the development, management and growth of MicroVest, including developing and implementing business development strategies and supervising investment deals. He led the launch of MicroVest I, LP, a commercial private equity vehicle focused on microfinance in North America. He has over 20 years of experience with microfinance institutions (MFIs) and capital markets and has worked in Latin America, Africa and Asia.
Previously, Mr. Crawford worked for the Latin American Financial Markets Division at the International Finance Corporation (IFC), created and ran Seed Capital Development Fund and was the Assistant Project Director for Africa Venture Capital Project. Mr. Crawford received his bank training at Chase Manhattan Bank in the mid 1980’s after working in Africa for the Red Cross and the US State Department. He graduated from Johns Hopkins University School of Advanced International Studies (SAIS) (US) in 1983 and Bates College (US) in 1980.
MICROCAPITAL BRIEF: Asian Development Bank (ADB) Provides $300m to Indian Guarantee Fund and Small Industries Development Bank of India (SIDBI) for Micro, Small, and Medium Enterprises (MSMEs)
The Asian Development Bank (ADB), a multilateral development bank, will provide a USD 50 million loan to the state-owned Small Industries Development Bank of India (SIDBI) for lending to micro, small and medium-sized enterprises (MSMEs) and a partial credit guarantee of up to USD 250 million for ADB’s Micro, Small and Medium Enterprise (MSME) Development Project, which will allow public sector commercial banks to obtain medium- to long-term funds to on-lend to existing MSME clients in India.
MICROCAPITAL BRIEF: Southern Sudan Microfinance Development Facility (SSMDF) Provides $92k to Rural Finance Initiative (RUFI), a Microfinance Institution (MFI), for Technical Assistance and On-Lending
The Southern Sudan Microfinance Development Facility (SSMDF), a microfinance investment facility supported by the Ministry of Finance and Economic Planning, the Ministry of Commerce and Industry, and the Ministry of Agriculture and Forestry of the Government of Southern Sudan, will provide funding of SDG 214,290, the equivalent of USD 92,565, to the Rural Finance Initiative (RUFI), a microfinance institution (MFI) located in Southern Sudan, over a period of three years.
MICROCAPITAL BRIEF: Mexican Microfinance Institution (MFI) Financiera Independencia Closes $41m Acquisition of Financiera Finsol
Financiera Independencia, a Mexican microfinance institution (MFI) that focuses on urban lending to individuals, has closed an MXP 530 million (USD 41 million) deal to acquire Financiera Finsol, a Mexican MFI that focuses on group lending in rural areas, and three related entities: Finsol Vida, an insurance broker; Finsol, a service company; and Instituto Finsol Brazil, an MFI in Brazil.