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Aavishkaar Goodwell plans to raise $100 mn Fund to invest in MFI’s, entrepreneurial microfinance organizations & housing finance companies.
Aavishkaar Goodwell is an India Microfinance Development Company. It is an Indo-Dutch joint venture based out of Mauritius. It has US$18 Million fund . It is building a portfolio of USD 25 million of smart capital investments in 30-40 start ups and 8-10 fast growing MFIs.Development financial institutions and pensions funds are its target investors. It may also approach existing investors like International Finance Corp, Blue Orchard, Netherlands Development Finance Company (FMO), and Deutsche Bank.The firm plans to hold significant stake and invest up to $ 10 mn in a company throughout its life averaging between 5 to 7 years.
Aavishkaars current portfolio consist of Share Microfin Ltd. It is also equity partner in a franchising partnership with Intellecap, CASHPOR and ICICI Bank which has outstanding loans of US$ 1 bn.
The franchising approach of investment enables start- ups to cut down start up time and experience rapid growth at comparatively lower costs and risks.
Aavishkaars earlier investments include microfinance start-up Utkarsh and Suryoday Microfinance.It also has Aavishkaar India Micro Venture Capital Fund operational since 2002 for investment into Micro and Small Enterprises (MSMEs).
Transaction Refernce: VCcircle
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