The Hindu Business Line : Bellwether Microfinance Fund gets $2.4-m Dutch investment

Advertisement

Hyderabad Feb. 2 Bellwether Microfinance Fund, the country's first microfinance venture capital fund, has received an investment of $2.4 million from the Dutch financial major FMO. Post this investment, FMO would have 18.6 per cent holding of the total paid-up equity in the fund.

FMO is the third foreign institutional investor to invest in Bellwether. Fray Ghost Microfinance Fund and Hivos-Triodos Fund Foundation, the existing investors of Bellwether, have also subscribed to additional shares totalling $1.2 million each. According to Mr Prasad, co-founder of Bellwether, the investment by FMO would help increase the availability of the much needed equity financing to MFIs (microfinance institution), a press release said.

Established in 2005, Bellwether Microfinance Fund, based in Hyderabad, has so far invested Rs 19 crore, with total commitment of Rs 27.5 crore in microfinance opportunities in the country. This includes equity investments in three start-up MFIs. Over 80 per cent of the funds committed so far have been outside the four southern States, the traditional microfinance markets, the release added.

More Stories on : Venture Capital | Rural Development

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
DSP Merrill Lynch launches `Trust Services'

Reliance MF displaces UTI as largest fund house

Fidelity Mutual seeks nod for global use of feeder funds

RCom crosses Rs 1 lakh-cr market cap

Network 18 Fincap lists at Rs 300 on BSE

Bulls prevail

Buoyant mood takes indices to another high

C&C Constructions plans IPO with a price band of Rs 270-291

Firstsource IPO subscribed by 47.46 times

Asahi Songwon to invest Rs 52 cr in expansion

Jagjanani Textiles to tap capital market

Bellwether Microfinance Fund gets $2.4-m Dutch investment