Symbiotics Investment Group, a Swiss for-profit microfinance investment intermediary, recently disbursed a USD 10 million syndicated loan to Fundacion de la Mujer Bucaramanga, a microfinance institution (MFI) in Colombia.
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MICROCAPITAL BRIEF: Access Bank of Azerbaijan Raises $10m from Symbiotics ‘MSME’ Bonds Impact Investing Platform
Symbiotics Investment Group, a Swiss for-profit microfinance investment intermediary, recently raised USD 10 million in loan funds for Access Bank, a microfinance bank in Azerbaijan, through Micro, Small & Medium Enterprise Bonds SA (MSME Bonds), an investing issuance platform founded by Symbiotics.
MICROCAPITAL BRIEF: Oxfam, City of London, Symbiotics Invest $1.6m in Xac Leasing of Mongolia through Small Enterprise Impact Investing Fund (SEIIF)
Oxfam UK, a UK-based charity, City of London and Symbiotics, a Swiss microfinance investment intermediary, recently launched a joint initiative known as the Small Enterprise Impact Investing Fund (SEIIF). SEIIF is intended to deliver measurable social as well as financial returns to its stakeholders by investing in small and medium-sized enterprises (SMEs) through financial intermediaries operating in developing countries.
MICROCAPITAL BRIEF: Oxfam International, Symbiotics Launch Small Enterprise Impact Investment Fund for Asia, Africa
UK-based relief agency Oxfam International and Swiss for-profit microfinance investment intermediary Symbiotics have jointly launched the Small Enterprise Impact Investment Fund (SEIIF) that will increase access to credit for small and medium-sized enterprises (SMEs) in Asia and Africa while offering investors both “measurable social impacts and financial returns” [1].
MICROFINANCE PAPER WRAP-UP: Symbiotics 2011 MIV Survey Report: Market Data and Peer Group Analysis
Published by Symbiotics Research and Advisory; August 2011; 34 pages; available at http://www.microfinancegateway.org/p/site/m//template.rc/1.9.53112
MICROCAPITAL BRIEF: Symbiotics Launches Micro-, Small & Medium-Sized Enterprise Bonds Electronic Platform, Closes Two Deals for Mutual Cartago de Ahorro y Prestamo (MUCAP) and Microfinance Institution (MFI) Lanka ORIX MicroCredit (LOMC)
Symbiotics, a microfinance investment services company based in Switzerland, launched an electronic bond issuance platform on December 16th aimed at serving micro-, small & medium-sized enterprises and closed deals for Mutual Cartago de Ahorro y Prestamo (MUCAP), a savings and loan institution based in Costa Rica, and Sri Lankan microfinance institution (MFI) Lanka ORIX MicroCredit (LOMC), a joint venture started by the International Finance Corporation (IFC), the Sri Lankan government and the Orient Leasing Company.
MICROCAPITAL BRIEF: LOLC Micro Credit Ltd. (LOMC) Receives $14m from Symbiotics and Three Triodos Funds to Expand Microfinance Operations in Sri Lanka
Symbiotics SA Information, Consulting and Services Switzerland, a microfinance investment intermediary, and Triodos Investment Management, a group managing four microfinance funds, recently invested the equivalent of USD 14 million in LOLC Micro Credit Ltd. (LOMC), a Sri Lankan microfinance institution.
MICROCAPITAL STORY: Symbiotics Partners with Luxembourg Labelling Agency (LuxFLAG) and Spins Off Luxembourg Consulting Arm to Innpact Sàrl
Symbiotics SA, the Geneva-based investment advisor and information resource for the microfinance industry, has announced a collaboration with the Luxembourg Fund Labelling Agency (LuxFLAG). In an unrelated event, Symbiotics spins-off its Luxembourg consulting arm into an independent company, Innpact Sàrl.
Switzerland-based Symbiotics Intermediates a USD 3 mn Loan from Microfinance Loan Obligations to Foundation for International Community Assistance (FINCA) Azerbaijan
Another story courtesy of the CGAP/MIX Capital Markets newsletter. The Foundation for International Community Assistance (FINCA) in Azerbaijan received a USD 3 mn loan from the Microfinance Loan Obligations, S.A. through the intermediary of the Switzerland-based facilitator, Symbiotics. FINCA Azerbaijan is a microfinance institution (MFI) that was established in 1998 to “provide financial services to the world’s poorest families.” According to MIX market, the microfinance information clearinghouse, FINCA Azerbaijan has USD 20.9 mn in total assets and a gross loan portfolio of USD 19.2 mn spread throughout nearly 50,000 active borrowers (as of 31 December 2006). Microfinance Loan Obligations does not report to the MIX market. Symbiotics is an investment intermediary that has facilitated over USD 150 mn in loans. Symbiotics also provides investment services to fund managers and investors specializing in microfinance.
MicroCapital is Pleased to Introduce the Symbiotics Microfinance Index
Today, MicroCapital.org launched the Symbiotics Microfinance Index (SMX) on our website. The SMX is made up of publicly listed global fixed income funds that invest primarily in microfinance. Funds are weighted in the index according to their total assets, and they must provide monthly valuations and use U.S. dollars as their investment currency, in addition to having a valid ISIN market identifier. The SMX has charted growth of 5.01% over the trailing 12 month period with a volatility of just 0.49%.
Index values are indicative of the growth of microfinance assets held by the funds. The index value of 100 for January of 2004 is the baseline for performance measurement, and each additional point is equivalent to one percentage point of growth across the microfinance industry. The index is revalued during the first week of each month and is not adjusted for inflation.Symbiotics SA, Information, Consulting & Services is the Swiss firm that publishes the index. Symbiotics main line of business is microfinance investment intermediation services as well as other services.
Symbiotics Tells Story of Microfinance Investment Funds in Less Than 150 Words
Symbiotics, a new Swiss professional services firm catering to microfinance investors and fund managers, summarizes the investment funds landscape beautifully:
“Over fifty global and regional microfinance investment vehicles exist today, and at least as much local ones have been identified. All are expected to grown significantly in the coming few years. Foreign investment in microfinance totals over a billion dollars, and is growing rapidly (supply is expected to double in 2005 and double again by 2008).
Continue reading “Symbiotics Tells Story of Microfinance Investment Funds in Less Than 150 Words”
SPECIAL REPORT: Investors, MFIs Continue to Wrestle with Sustainable Finance Disclosures Regulation (SFDR) #EMW2023
The Sustainable Finance Disclosures Regulation (SFDR), which the EU passed in 2019, resulted in a “seismic shift” for impact investment funds and their investees. At the closing plenary of European Microfinance Week 2023, Emmanuelle Javoy of Switzerland-based investor Symbiotics explained her firm’s response to SFDR. The company invested a large amount of resources to review the sustainability objectives of each of its 25 funds.
Jurgen Hammer of the
MICROCAPITAL BRIEF: David Grimaud Named CEO of Palladium Group’s Bamboo Capital Partners
The Luxembourg-based fund manager Bamboo Capital Partners recently selected David Grimaud as its CEO, marking the departure of Jean-Philippe de Schrevel, the company’s founder. Mr Grimaud has a background in impact investing and asset management
MICROCAPITAL BRIEF: Annapurna Finance Borrowing $25m from responsAbility to Boost Renewable Energy, Energy-efficiency in India
The Switzerland-based firm responsAbility Investments recently loaned USD 25 million to Annapurna Finance, a microfinance institution (MFI) seeking to reduce poverty and spread economic opportunity in India. The MFI plans to on-lend the funds to families as well as smaller businesses looking to acquire solar panels and other equipment that reduces the need for fossil fuels. As Annapurna has
MICROCAPITAL BRIEF: Khan Bank Raises $10m in Bond Sale to Vision Microfinance Dual Return Fund to Support Women’s SMEs in Mongolia
Symbiotics Investments, a Switzerland-based investor focused on smaller businesses in low- and middle- income countries, recently facilitated a bond issue channeling USD 10 million to Khan Bank, which serves individuals and companies of all sizes in Mongolia, to support UN Sustainable Development Goal (SDG) 5: Gender Equality. Impact Asset Management (I-AM), a unit of Austria’s C-Quadrat Investment Group, bought the bond through its Vision
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: BII Lending $20m to Moove, Financier of Ride-hailing, Delivery Vehicles in Africa
British International Investment (BII), the UK government’s development finance institution, recently announced a four-year structured debt package of USD 20 million for Moove, a Nigeria-based financial technology (fintech) firm that helps drivers in Africa acquire motorcycles, cars and trucks to work for passenger and delivery driving services. Moove plans to use the proceeds to buy fuel-efficient cars for drivers in Nigeria to acquire through payments made over periods of up to four years. Moove’s vehicle financing packages include
MICROCAPITAL BRIEF: Evocabank of Armenia Launches Money Transfers via Mobile Phone Number
Evocabank, an Armenian bank, recently partnered with Armenian Card (ArCa), a network of 15 Armenian and international banks, to launch a service that allows Evocabank bank customers to send money transfers using recipients’ mobile numbers, without the need for their bank details. The service is part of Evocabank’s mobile app, EvocaTouch. Transfers are