The CDC Group, a development finance institution owned by the UK government’s Department for International Development, has made an equity investment of USD 16 million in Equitas Holdings Private Limited (Equitas), a microfinance company based in Chennai, India [1].
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MICROCAPITAL BRIEF: UK’s CDC Group Invests $10m in Progression Eastern African Microfinance Equity Fund (PEAMEF)
The CDC Group, a development finance institution owned by the UK government’s Department for International Development, has announced that it has invested USD 10 million in the Progression Eastern African Microfinance Equity Fund (PEAMEF), which will support microfinance institutions in Kenya, Rwanda, Tanzania, Uganda and Zambia.
MICROCAPITAL BRIEF: United Kingdom’s CDC Group Invests $10m in Lok Capital II, Private Equity Fund Focused on Microfinance in India
CDC Group, the UK’s government-owned development finance institution, recently invested USD 10 million in Lok Capital II, a private equity fund managed by Lok Capital, partner organization of the non profit Lok Foundation based in New York City, USA.
MICROCAPITAL BRIEF: CDC Group Invests $10m in ShoreCap’s SCII Microfinance Fund for Africa and Asia
The CDC Group, a UK development finance institution, has committed USD 10 million to Shorecap International’s ShoreCap II (SCII) fund, which will invest in microfinance institutions in low-income African and Asian countries.
PRESS RELEASE: CDC Group to Commit $5m to Sierra Investment Fund for SMEs in Sierra Leone
Source: CDC Group.
MICROCAPITAL STORY: CDC Group Invests $30m in Microfinance Funds: India Financial Inclusion Fund and Catalyst Microfinance Investors
CDC Group, the British government-backed, private equity fund of funds with net assets of 4 billion USD, has invested into two microfinance funds to the tune of 15 million USD: the India Financial Inclusion Fund, managed by Caspian Capital Partners, and the Catalyst Microfinance Investors, managed by Catalyst Microfinance Investment Company. By investing in MFIs, the fund aims to provide low-income persons access to a wide range of financial services, including credit, savings, and fund transfers.
MICROCAPITAL STORY: British Government-sponsored CDC Group to Invest $10.5m of Equity in Luxembourgian Venture Capital Firm Advans SA
Advans SA, a Luxembourgian venture capital firm that specializes in microfinance ventures, recently announced it raised EUR 7 million (USD 10.5 million) in equity capital from CDC Group, a private equity fund of funds sponsored by the British government. CDC’s investment aims to support Advans’ expansion of investments in Asian and African microfinance institutions (MFIs). The deal will consist of two financing rounds: CDC has committed to an initial round of EUR 3 million (USD 4.5 million) in equity, and plans to invest EUR 4 million (USD 6.5 million) of equity during a subsequent round of Advans-planned fundraising in early 2009.
NEWS WIRE: Luxembourg: Advans, Venture Capital Firm Specializing in Microfinance Institutions in Africa, Asia, Raises $10.5m from CDC Group
Source: Private Equity Hub.
MICROCAPITAL STORY: UK’s CDC Group Invests USD 30 Million in Minlam’s Microfinance Offshore Hedge Fund
The United Kingdom’s CDC Group plc, the UK government backed private equity emerging markets fund-of-funds investor, is investing USD 30 million in a new microfinance hedge fund run by New York-based Minlam Asset Management LLC (MAM), an investment firm for private investors. Called Minlam Microfinance Offshore Fund, the hedge fund will provide local currency credit to microfinance institutions (MFIs) operating in emerging markets across Central & South America, Asia, CIS & Eastern Europe, and Africa.
MICROCAPITAL BRIEF: First City Monument Bank of Nigeria Offers Asset Financing Starting at $600
First City Monument Bank (FCMB) of Nigeria has begun offering loans of NGN 500,000 (USD 600) to NGN 3 million (USD 3,600) with terms of one year to four years for businesses to finance purchases of equipment and machinery. FCMB reports that it also may grant customers – in certain circumstances –
MICROCAPITAL BRIEF: Sun King Raises $130m for Pay-as-you-go Solar in Kenya, Citi is Sole Arranger
With the goal of expanding access to off-grid solar energy in Kenya, the US-based solar products firm Sun King recently won a loan securitization denominated in Kenyan shillings equivalent to USD 130 million. Among the private participants are
MICROCAPITAL BRIEF: African Development Bank (AfDB) Disbursing $1.6m for Green Finance in Benin, Côte d’Ivoire
The African Development Bank (AfDB) recently announced green finance facilities in partnership with the government of Benin’s La Caisse des Dépôts et Consignations du Bénin (CDC) and the government of Côte d’Ivoire’s Banque Nationale d’Investissement (BNI). The aggregate value
MICROCAPITAL BRIEF: Tunisie Leasing and Factoring Borrows $7.5m from BII-Symbiotics Green Bond Program for SMEs in Tunisia
Symbiotics Investments recently issued a loan of USD 7.5 million to Tunisie Leasing and Factoring (TLF) “to further expand its renewable energy and energy-efficient machinery and equipment offerings” for small and medium-sized enterprises (SMEs) in Tunisia. Symbiotics sourced the funding
MICROCAPITAL BRIEF: DFIs Invest $109m in Horizon Capital IV to Support SMEs in Ukraine, Moldova
Six public-sector organizations recently invested in the second funding round of Horizon Capital IV with the goal of enabling the equity fund to supply more working capital to “fast-growing, technology-enabled small and medium-size businesses” in Ukraine and Moldova. The fund also seeks to
MICROCAPITAL BRIEF: AMK of Cambodia Borrowing $7.5m for Green Microfinance via Bond Issue from BII, Symbiotics
Symbiotics Investments, a Switzerland-based investor focused on smaller businesses in low- and middle- income countries, recently disbursed USD 7.5 million to Cambodia’s AMK Microfinance Institution to fund its ongoing lending for electric two- and three-wheeled vehicles as well as new products, such as
MICROCAPITAL BRIEF: Zanaco Borrows $50m from BII to Support MSMEs, Climate-change Mitigation in Zambia
Zambia National Commercial Bank (Zanaco) recently borrowed USD 50 million from British International Investment (BII), the UK government’s development finance institution, with the goal of funding micro-, small and medium-size enterprises (MSMEs) as well as climate-focused initiatives such as renewable energy generation. BII is looking to
MICROCAPITAL BRIEF: In $112m Deal, ADB, BII, LeapFrog, Premji Invest in Shubham Housing Development Finance of India as Elevar, Motilal Oswal Private Equity Exit
The multilateral Asian Development Bank (ADB), the UK government’s British International Investment (BII), UK-based LeapFrog Investments and India’s Premji Invest (PI) – via its PI Opportunities Fund – recently announced they have led an investment in the India’s Shubham Housing Development Finance in local currency totalling the equivalent of USD 112 million. The four investors disbursed USD 78 million to Shubham as primary capital to
MICROCAPITAL BRIEF: SEWA Affiliate Sitara Raises $20m in Equity from Nordic Microfinance Initiative, Women’s World Banking, Ongoing Shareholders to Improve Housing Conditions for Women in India
SEWA Grih Lin, an Indian affordable housing finance company also known as Sitara, recently raised USD 20 million in equity, including USD 8 million from the Norway-based Nordic Microfinance Initiative (NMI). Sitara sourced the remainder in unspecified portions from