MicroVest

MicroVest is a private equity and asset management firm based in Bethesda, Maryland, founded in 2003. The firm specializes in investing in low-income financial institutions (LIFIs), including microfinance institutions and small and medium-sized enterprise (SME) finance entities. MicroVest focuses on providing debt and equity capital to companies that serve unbanked and underbanked populations, particularly in emerging markets across regions such as the Middle East, Latin America, and Asia. The firm typically invests between $0.1 million and $15 million, utilizing various investment structures, including loans, equity, and quasi-equity instruments. By supporting responsible financial institutions, MicroVest aims to enhance access to credit for microentrepreneurs and small businesses, fostering economic development in underserved communities.

Gilbert Crawford

Co - Founder and Board Chair and Investment Committee

Gareth Hill

Investment Associate

Joshua Moraczewski

CEO, Chief Investment Officer, Board Member and Investment Committee Member

13 past transactions

Kashf Foundation

Debt Financing in 2018
Founded in 1996, Kashf Foundation has worked to pioneer microfinance services that empower and promote the economic self-reliance of poor women and their families in Pakistan. Kashf is now one of the premier microfinance institutions in the country, disbursing $202 million USD in loans to date and providing more than one million people with access to financial capital.

Aye Finance

Debt Financing in 2018
Aye Finance is a finance company that provides business loans to micro and small businesses in Northern India.The company's mission is to provide innovative and customer-centered financial services to micro and small business through effective technology and robust processes. It works with a relevant technology to facilitate better financial inclusion and to consequently serve micro-enterprises. Aye Finance was founded in 2014 and is headquartered in Gurgaon, Haryana, India.

Varthana

Venture Round in 2015
Varthana provides loans and support for affordable private schools. They are a Non-Banking Financial Company (NBFC) headquartered in Bangalore, India.

Thaneakea Phum (Cambodia)

Venture Round in 2015
Thaneakea Phum (Cambodia), Ltd. (“TPC”) is a rapidly growing, regulated microfinance institution with a focus on serving entrepreneurs and families at the base of the socio-economic pyramid with the economic opportunities to transform the quality of their lives. TPC is currently the 5th largest MFI in Cambodia by number of borrowers and GLP. Due to its commitment to responsibly serving clients, focus on customer service, innovative products, and fair and transparent pricing, TPC has become a trusted provider of financial services for Cambodians. Head Office Going forward, TPC will continue its expansion in rural areas and develop new, innovative financial products and services for its clients. With an experienced management team, strong governance, and social commitment, TPC is well-positioned to further broaden its outreach and impact across Cambodia. TPC was established by Catholic Relief Services (“CRS”) in 1994 to enable rural women to gain access to financial services that they could use to finance their microenterprises. In January 2010, Developing World Markets (“DWM”), a US-based, socially responsible emerging markets fund manager acquired a majority equity stake in TPC from CRS. With over 15 years of experience and approximately $760 million in assets under management, DWM's oversight and high standards have enabled TPC to greatly improve its operations and procedures. As TPC grew very quickly, LOLC Micro Investment Ltd. (“LOMI”) became interested in investing in TPC, and acquired a majority equity stake from TPC.At present, LOMI owns 60% of total shares, DWM owns 36.97%, and the remainder is owned by TPC staff through an Employee Stock Ownership Plan (TPC-ESOP).

TBC Kredit

Venture Round in 2014
TBC Kredit is a non-banking credit organization based in Azerbaijan, established in 1999. It was the first company in the country to provide mortgage loans and has since expanded its offerings to include a diverse range of credit products. TBC Kredit provides consumer loans, vehicle loans, mortgage loans, and business loans, catering to various financial needs within the market.

XacLeasing

Venture Round in 2014
XacLeasing company will deliver comprehensive, high quality, on time leasing services to Mongolian citizens and companies.

JSC TBC Leasing

Venture Round in 2013
JSC TBC Leasing is a standard financial leasing operating Leasing Produce Agriculture Agency of Georgia (APMA) Quick Product.

AMK Microfinance Institution

Venture Round in 2013
AMK’s commitment to social performance has been absolute. AMK has developed a comprehensive social performance management framework, which ensures that the organization stays focusing on its mission to assist large numbers of poor people. As of December 2016, over 2,300 staffs serve almost 600,000 clients in nearly 13,000 villages across Cambodia. This outreach represents 89% of all villages.

Serfindata

Venture Round in 2013
Serfindata is a microfinance institution based in Colombia.

Satin Creditcare Network

Venture Round in 2013
Satin Creditcare Network provides financial assistance to households, excluded from the ambit of mainstream financial service providers. The company offers financial products in the Non-MFI segment, a housing finance subsidiary, and business correspondent services, and similar services to other financial Institutions through Taraashna Services Limited, a business correspondent company and a subsidiary of Satin Creditcare Network. The company also incorporated a housing finance subsidiary which is Satin Housing Finance Limited or SHFL for providing loans to the affordable housing segment. This extension is to provide financial products that cater to the undeserved segments of the market. The company's operations is based on the Joint Liability Group model, which enables people to deliver collateral-free, microcredit facilities to economically active women in rural and semi-urban areas, who have limited access to mainstream financial service providers. It also offers loans to individual businesses and MSMEs, product financing for the purchase of solar lamps, as well as loans for the development of water connections, and sanitation facilities. Satin Creditcare Network focuses on rural and semi-urban areas, securing that its services reach those regions that usually face low or at best, moderate rates of penetration by other microfinance institutions. Satin Creditcare Network was founded in 1990 and is headquartered in Gurugram, Haryana, India.

TBC Bank

Venture Round in 2013
JSC TBC Bank is a prominent universal bank based in Tbilisi, Georgia, serving over 700,000 customers through its diverse range of financial services. The bank operates across four main segments: corporate, retail, small and medium-sized enterprises (SME), and microbusinesses. TBC Bank offers various products, including term, savings, and current accounts, as well as a variety of loan options such as mortgages, consumer loans, and business financing. Additionally, the bank provides credit cards, insurance products, and a suite of banking services like money transfers, treasury services, and digital banking solutions. Founded in 1992, TBC Bank has expanded its operations to Uzbekistan and remains a key player in the Georgian financial sector.

Varsity Management Pvt Ltd

Venture Round in 2011
Varsity Management Pvt Ltd, based in Hyderabad, India, specializes in providing a comprehensive range of operational and support services to educational institutions across Karnataka, Andhra Pradesh, Maharashtra, and Tamil Nadu. Established in 2010, the company focuses on enhancing educational quality through initiatives such as curriculum development, teacher recruitment, and the provision of essential resources like textbooks and uniforms. Additionally, Varsity Management offers financial and accounting training, IT services, and marketing support to schools. Their approach includes the implementation of innovative learning patterns and lesson plans designed to facilitate multisensory learning, ensuring alignment with state and national curricula. Through these services, Varsity Management aims to improve both teaching effectiveness and student engagement.

Vardhman Textiles

Venture Round in 2010
Vardhman Textiles Limited is a prominent manufacturer and seller of textile products based in Ludhiana, India. Established in 1973, the company specializes in producing a diverse range of yarns, including greige and dyed options made from cotton, polyester, acrylic, and blends. Vardhman Textiles also offers value-added products such as organic cotton and fancy yarns suitable for hand knitting. In addition to yarns, the company manufactures fabrics for shirting and trousers, garments, and various types of threads, catering to both domestic and international markets. Approximately 25% of its revenue is derived from exports to countries including the United States, Canada, China, and several others across Europe and the Middle East. Furthermore, Vardhman Textiles is involved in producing hot-rolled bars for industries such as automotive and engineering, showcasing its extensive capabilities within the textile sector.
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