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    Home»MICROFINANCE PRIVATE EQUITY

    Grama Vidiyal Micro Finance Limited (GVMFL) raises $ 4.25 Million

    By ADITYAUpdated:August 22, 2020
    Grama Vidiyal Micro Finance Limited (GVMFL) raises $ 4.25 Million
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    Microfinance is emerging as the most funded sector in recent times if the recent funding action is anything to go by.

    Grama Vidiyal Micro Finance Limited (GVMFL), a Tamil Nadu based microfinance institution, has raised $4.25 million from MicroVest and its existing investor Unitus Equity Fund in its second round of fundraising. Vinod Khosla, who had also invested in the first round of fundraising of GVMFL, has invested in this round too, through his nonprofit private foundation, Amar Foundation.

    The company plans to use the funds for meeting its expansion plans. A part of the funds will also be used to meet the enhanced capital adequacy norms set by the Reserve Bank of India (RBI). Unitus Capital was the advisor for the transaction.

    GVMFL has around 400,000 microfinance clients and has a loan portfolio of over $40 million. It is a profitable microfinance institution that serves poor women in Tamil Nadu. In its first round of fundraising, GVMFL had raised $3.7 million from Unitus Equity Fund L.P. and Vinod Khosla, in February 2008.

    MicroVest II, MicroVest’s newly launched equity fund which invests in Tier I microfinance institutions, has invested in GVMFL. Large institutional, as well as private investors, have invested in MicroVest II.

    MicroVest Capital is a global microfinance intermediary that provides financial capital to microfinance institutions (MFIs) in emerging markets. It was founded by CARE, MEDA, and the Seed Capital Development Fund.

    VC-Circle

    care dia vikas capital grama vidiyal micro finance limited gvmfl meda microfinance tamil nadu microvest capital seed capital development fund top equity deals in 2008 2009 unitus equity fund vinod khosla
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    ADITYA

    Aditya is a talented content writer with a passion for crafting engaging and informative content that resonates with readers. With 10 years of experience in the industry, he has honed his writing skills to produce high-quality content across a wide range of topics.

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