Monday
October 16
2017

Press release: Bamboo Capital Partners exits its investment from Vitas Group, a leading microfinance institution in post conflict MENA and Eastern Europe regions

After six years of investment, Bamboo Capital Partners (“Bamboo”), a leading impact investing private equity firm delivering social and financial value, has profitably exited from its investment in Vitas Group (“Vitas”). Vitas is an operator of successful, majorityowned microfinance institutions (MFIs) in Jordan, Lebanon, Romania, and Palestine.

Vitas has grown significantly over the course of Bamboo’s investment. Since 2011, Vitas and its affiliates’ Gross Loan Portfolio increased from $82 million to $247 million and the number of clients has tripled. Currently, Vitas and its affiliates serve more than 112,000 clients while employing nearly 1600 local professional staff.

The transaction was achieved through a repurchase of shares by Vitas financed through existing internal funds. Bamboo commenced its partnership with Vitas six years ago when it entered as the anchor equity investor alongside the founding investor Global Communities. Further terms of the transaction have not been disclosed.

Vitas was set up to house Global Communities’ commercial MFI operations, as well as provide strategic, operational, and capital support to sustainably grow each of the subsidiaries in a responsible way. Vitas’ MFI operations are now considered among the largest and most sustainably profitable across the Middle East and North Africa.

Photo courtesy of Alan Cleaver.

Source: Press release (link opens in a new window)

Categories
Investing
Tags
impact investing, investors, MENA, MFIs, microfinance, venture capital