Sanjay Nayar, CEO and Country Head for Kohlberg Kravis Roberts & Co (KKR), has joined the board of Grameen Capital India (Grameen Capital), an investment bank to microfinance institutions (MFIs) and other ‘Base of the Pyramid’ initiatives.
On his decision to join Grameen Capital's board, Sanjay Nayar said, "Grameen Capital has played an important role in paving the way and enabling access to capital for MFIs. As the requirement for accessible capital from India's rapidly developing rural markets increases, my role here will be to provide counsel as Grameen Capital India evolves into a company of scale.”
Recently, Grameen Capital India was the sole advisor to this transaction for Smile Microfinance Ltd, a Chennai-based microfinance company, which raised around $10 million (around Rs 50 crore) from equity funds managed by Developing World Markets (DWM), a US-based social investment fund manager.
Royston Braganza, CEO, Grameen Capital, said, "The microfinance sector is at a key inflection point – how does it sustainably scale-up to meet the huge need without losing sight of the larger good. Strong commitment to social impact and fresh ideas are needed to continue to attract capital and new investor classes to the base of the pyramid. We are delighted that Sanjay has chosen to join the board of Grameen Capital. His vast experience and deep insight into the capital markets will be an invaluable asset in the fight against poverty."