Investment management company Elevar has raised a $70m equity fund to invest in growth companies expanding the reach of microfinance and other essential services to the 4bn underserved people at the base of the economic pyramid in countries like India, Mexico, the Philippines and Peru.
Elevar Equity II is the second poverty focused fund managed by the Elevar team and follows the Unitus Equity Fund which is one of the most successful microfinance equity funds to date.
Through both funds, the Elevar team has led “Series A” investments in leading microfinance institutions such as SKS Microfinance, Ujjivan, Grama Vidiyal, Madura Microfinance, Swadhaar (all in India), Grupo Crediexpress (Mexico) and FINSOL (Brazil). Elevar has also made two non-financial services investments – Moksha Yug Access (focused on rural supply chains) and Comat Technologies (delivering government service to rural communities).
FinSMEs
15/03/2010