Originally Published: May 15, 2007
Source: Legatum & Aavishkaar Goodwell
Legatum and Aavishkaar Goodwell have announced an equity investment of US$27Mln in SHARE Microfin Limited, India's leading microfinance institution. Legatum, a private firm that invests in capital markets and in initiatives that support human and social development, has agreed to invest US$25Mln (INR 100 Crore) to acquire a majority interest in SHARE.
The investment represents the largest equity investment to date in the global microfinance sector, and will enable SHARE to reach an additional five million customers over the next five years.
Udaia Kumar, Chairman and Managing Director of SHARE Microfin Ltd. said, that the transaction exemplifies the important role that experienced global investors will play in helping to develop the microfinance industry. According to Mr. Kumar, SHARE is now ready for the next stage in its growth. Mr Kumar welcomes the global experience and vision of Legatum and the business experience and on the ground presence of Aavishkaar Goodwell's team. Intellecap, a social investment adviser based out of Mumbai and Hyderabad, India, acted as Legatum's financial adviser on the transaction.
To read the official press release from Legatum, please click here.
To read the official press release from Aavishkaar Goodwell, please click here.