Bamboo Finance, a Switzerland-based investment firm, recently has invested INR 157 million (USD 3 million) in Vienova Education Private Limited, an Indian education provider. Vienova’s services include setting up schools, developing curricula and offering online tutoring. The company plans to use the equity capital to establish 100 additional schools. This is the third investment Vienova has received, following an investment made in 2008 by Indian Angel Network, a group of companies that provide seed capital for start-up businesses, and another in 2011 by Helion, a private equity investor. The size of the stake Bamboo Finance will take in Vienova has not been disclosed.
As part of the arrangement, Bamboo Finance investment manager Keith Allman has taken a position on Vienova’s board of directors. Grameen Capital India, a company that aims to enable social businesses to develop wider access to capital markets, was the sole financial advisor to Bamboo Finance in this transaction.
Bamboo Finance is affiliated with BlueOrchard, a Switzerland-based microfinance intermediary. Bamboo Finance manages the Oasis Fund, a Luxembourg-based investment advisory firm that specializes in financing social enterprises. BlueOrchard reported total assets of USD 1.1 billion as of 2011. Financial information for Oasis Fund and Bamboo Finance is not available.
By Charlotte Newman, Research Associate
Sources and Additional Resources:
Information sent to MicroCapital by Grameen Capital India: “Vienova Education Raises Rs 157 M from Bamboo Finance.”
MicroCapital.org story, July 18, 2010, “MICROCAPITAL BRIEF: Aabar Investments of Abu Dhabi Invests $54m in Microfinance Investment Vehicles BlueOrchard Private Equity Fund and Oasis Fund,” https://www.microcapital.org/microcapital-brief-aabar-investments-of-abu-dhabi-invests-54m-in-microfinance-investment-vehicles-blueorchard-private-equity-fund-and-oasis-fund/
MicroCapital.org story, June 30, 2011, “MICROCAPITAL BRIEF: ImpactAssets Includes 22 Microfinance-Focused Fund Managers in List of Top 50 Impact Investors,” https://www.microcapital.org/microcapital-brief-impactassets-includes-22-microfinance-focused-fund-managers-in-list-of-top-50-impact-investors/
MicroCapital Universe Profile: Oasis Fund
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MicroCapital Universe Profile: Grameen Capital India
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