<span style="line-height: 20.8px;">Luminaries from the tech, government and business sectors have joined hands to create a microfinance unit in India. The new Avanti Finance counts Ratan Tata, chairman emeritus of the Tata Group, Vijay Kelkar, former finance secretary, and Nandan Nilekani, co-founder of Infosys Ltd.</span><span style="line-height: 20.8px;"> among its investors.</span>
Bengaluru-based Chaitanya Rural Intermediation Development Services Pvt Ltd, has raised Rs. 47 crore ($7million) from Equator Capital‘s fund ShoreCap II and a few high networth individuals.
<span style="line-height: 20.8px;">With Bengaluru-based microfinance company Ujjivan going public on Wednesday, expectations are high that it will bring in the same levels of returns as its peers for PE players. Equitas Holdings during its initial public offering earlier this month saw 10 investors exiting with returns ranging from two to 13 times. </span>
At the end of 2015, Panakès Partners SGR SpA has obtained the required authorization by the competent authorities and has launched its first Fund, Panakès Fund I.
Buddy, a microlending startup that provides students with small loans to use on ecommerce sites, raised $500,000 in pre-series A funding today from Blume Ventures, Tracxn Labs, and a few other angel investors.
<p style="line-height: 20.8px;">Jin-Yong Cai, the former head of the World Bank’s investment arm, is moving to global private equity firm <a href="http://www.financeasia.com/Tag/tpg.aspx">TPG</a> at a time when emerging markets are in tumult. For him, the market gyrations created by worries over the state of the Chinese economy, crashing commodity prices and rising US interest rates are creating buying opportunities and encouraged him to make the leap into private equity.</p>
<p style="line-height: 20.8px;">Founded in 2006, CreditAccess Asia wants to expand its retail lending operations and aims to double its client base to over three million customers over the next two years. Olympus Capital’s investment follows a decision by India’s central bank in September to license ten financial institutions to set up small banks to provide microfinance to its citizens.</p>