Largest transaction in Indian microfinance since 2010
Thursday, August 14, 2014
Janalakshmi, a microfinance institution headquartered in Bangalore, announced that it had closed its Series D primary equity raise of INR 3.25 billion. In addition, secondary transactions aggregating INR 0.25 billion provided a complete exit for Lok Capital and the Michael & Susan Dell Foundation, both of whom were early stage Series A investors.
This is the largest transaction in Indian microfinance since the 2010 Andhra crisis.
Morgan Stanley Private Equity Asia (MSPEA) led the transaction and Tata Capital Growth Fund and QRG Enterprises, the promoter holding company of Havells India, also participated in the round. Existing investors – Citi Venture Capital (CVCI Private Equity), India Financial Inclusion Fund and Vallabh Bhanshali – also participated.