Danish investor IFU’s top executive resigns
A senior executive at the Danish development finance institute, the Investment Fund for Developing Countries (IFU), which has assets under management in India valued at over Rs 3,000 crore, has resigned from her role. IFU, the backer of SME lender Ugro Capital, has received the resignation of senior vice president and ......
Arohan Financial secures additional funding from offshore backer
Microfinance institution Arohan Financial Services, a part of the Aavishkaar-Intellecap Group, has raised $20 million (nearly Rs 163 crore) in debt from a development finance institution. The microlender, which scrapped its plan for a Rs 850-crore initial public offering (IPO) last year citing tough macroeconomic conditions, has bagged the fresh capital ......
Arohan Financial snags $24 mn from another DFI
Microfinance institution Arohan Financial Services, a part of the Aavishkaar-Intellecap Group, has raised nearly Rs 200 crore ($24 million) from Investment Fund for Developing Countries (IFU), a development finance institution backed by the Denmark government. The move comes after the micro lender scrapped its plans to float an initial public offering ......
Satya MicroCapital taps returning investor to raise fresh capital
Satya MicroCapital Ltd, a Delhi-based microfinance institution backed by Japanese impact investor Gojo & Company Inc., is set to secure fresh capital from an international investor for the expansion of its loan portfolio. The lender, registered as a non-banking financial company-microfinance institution with the Reserve Bank of India, is raising ......
Arohan, Innoviti backer FMO takes a deep haircut on India debt investment
Dutch development finance institution FMO has taken a deep haircut on one of its debt investments in India, which accounts for the biggest exposure to its loan book and among the highest share of non-performing loans. FMO, which makes both direct investments in Indian companies and limited partner-style bets on private ......
Ugro Capital backer IFU promotes exec to investment director role
The Investment Fund for Developing Countries (IFU), the Dutch government-backed development finance institution which has backed several Indian companies including energy efficiency firm Smart Joules and SME lender Ugro Capital, has promoted one of its key executives in India. IFU, which is looking to invest $240-360 million in India over the ......
Aavishkaar Group-promoted Arohan Financial files for IPO
Aavishkaar Group-promoted Arohan Financial Services Pvt Ltd has filed for an initial public offering (IPO). The Kolkata-based microlender’s public offer will see the issuance of shares amounting to Rs 850 crore. It will also have an offer for sale worth Rs 950 crore. The entities that will take part in the offer ......
Leapfrog, Stakeboat-backed microlender Dvara roping in new offshore investor
Chennai-based microlender Dvara Kshetriya Gramin Financial Services Pvt Ltd (Dvara KGFS), which is backed by impact investor Leapfrog and mid-market private equity firm Stakeboat Capital, is in the process of roping in an offshore investor to raise capital. The non-banking financing company, which focuses on rural areas and raised $10 million in a ......
IFU’s Hingorani on making direct deals instead of LP bets, India portfolio and more
Copenhagen-headquartered Investment Fund for Developing Countries (IFU) has made more than 100 investments in India. In fact, the country is the top investment destination for the Danish development finance institution. IFU has invested in companies such as Ugro Capital and Arohan Financial Services in recent months. It intends to make larger bets in ......
Denmark’s IFU signs off from six-year-old India agri-tech bet
The Investment Fund for Developing Countries (IFU), the Danish development finance institution, has made an exit from a six-year-old bet from its India portfolio. IFU is an investor in several Indian companies, including Arohan Financial, Leap India Food, DCDC Health Services, and Cleanmax Enviro Energy Solutions, among others. It has assets ......
