GAWA Microfinance Fund (GAWA) has appointed Vikram Gandhi as its nominee on the board of Janalakshmi Financial Services Private Limited. GAWA is one of the lead investors in Janalakshmi’s recently concluded Series C top-up capital of Rs 80 crore.
Europe-based GAWA Microfinance Fund invests in debt and equity instruments of organisations that focus on promoting financial inclusion in Latin America, Asia and Sub-Saharan Africa. GAWA currently manages € 21 million raised by Ambers & Co., Capital from large family offices, institutions and high net worth individuals who are looking for risk-adjusted financial return while generating a visible direct social impact on poor communities worldwide, the company said in a release.
Gandhi is the founder and CEO of VSG Capital Advisors and was formerly vice chairman of investment banking and global head of financial institutions business for Credit Suisse, in New York and Hong Kong.
Prior to his tenure at Credit Suisse, Gandhi worked at Morgan Stanley, where he was co-head of Global FIG in New York. At Morgan Stanley he headed the firm's institutional strategy area, its global e-commerce committee and was also country head and president of Morgan Stanley, India.
“I have known the founders of GAWA for many years and highly respect the work they are doing in the microfinance. I look forward to working with the board and management to achieve its social and financial objectives,” Gandhi said on his appointment.
Luca Torre and Agustin Vitorica, founders of Ambers & Co., Capital and directors of GAWA said “We believe his exceptional knowledge and experience will be key to help us support the company to achieve its ambitious social and financial objectives. As part of our value added strategy, we will work closely with Vikram and the management team, leveraging in particular our understanding of microfinance drivers internationally and experience with financial markets.”
Ramesh Ramanathan, chairman and promoter of Janalakshmi, said, “Vikram brings significant financial and international experience which will be very useful to Janalakshmi.”
Janalakshmi Financial Services is a for-profit NBFC-MFI with assets of more than Rs 500 crore.
(Edited by Prem Udayabhanu)