Source: VC Circle.
Original article available here.
Lok Capital LLC, an India-focused microfinance venture capital fund, has raised its fund size by about 80 percent to USD 22 million from USD 14.5 million (as of November 2007). The investors in this final close is not known. [Editors note: The investors are listed in this April 10 news wire.]
In November last year, the fund had received USD 2.5 million from Boston-based ACCION International, a leading global microfinance institution (MFI). This had taken the Mauritius-registered Lok Capital’s fund size to USD 14.5 million. That will be the final close of the first fund, which has an investment period of four years (another three years to go, since it was launched last year). It had earlier raised monies from institutional investors such as CDC, FMO, KfW, and IFC. Mehta [Mr Vishal Mehta, General Manager of Lok Capital] said Lok Capital has already invested a total of USD 3 million in two MFIs – Janalakshmi in Bangalore and Spandana (along with JM Financial) in Hyderabad.
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