Source: All Africa.
Original news wire available here.
Cameroon, September 15 – Bellwether Microfinance Fund, India’s first micro-finance venture capital fund, announced that it has launched USD 100 million Indian Financial Inclusion Fund (IFIF), according to media.
IFIF is a Mauritius-based India focused fund, of which USD 30 million funding has been raised in August 2008 and the rest will be raised by August 2009. Caspian Advisors is the fund manger for the fund.
Mona Kachhwaha, Investment Manager of Capsian Advisors, said that the fund would focus on microfinance institutions and microfinance enablers, which includes companies that act as a catalyst to link banks to the unbanked/under-banked customers across urban and rural India, She added that the IFIF will also look to catalyse housing solutions for low income customers via housing finance companies as well as housing development companies.
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