Arohan in Talks With Sovereign Wealth Funds, PEs to Raise $200M
By M. Sriram
Arohan Financial Services is in talks to raise $200 million from existing and new investors, two people aware of the matter said on condition of anonymity, as the microfinance firm backed by the Aavishkaar-Intellecap group looks to expand business before a public share sale.
Of this, Arohan is already close to raising ₹130 crore (approximately $18 million) from existing investors such as private equity firm Tano Capital, secondary deals specialist TR Capital, Danish private equity firm Maj Invest and the Michael and Susan Dell Foundation, managing director Manoj Kumar Nambiar said.
Arohan plans to complete the fundraise in the next few months, and is in discussions with sovereign wealth funds, PE funds and development finance institutions, Nambiar said in an interview.
Photo courtesy of Peter Haden.