India Financial Inclusion Fund (2008-2020)

IFIF, was established to invest growth capital in financial inclusion and - in a strategy of incremental diversification - to invest in start-up or early stage affordable housing and last mile banking.

 

Through this USD 90 million fund we were part of the remarkable journey of institutions inlcuding Equitas, Ujjivan, Janalakashmi, MHFC, Aptus and many more which went on to play a pivotal role in shaping the financial inclusion space in India. The Fund invested in 12 institutions across microfinance and housing finance.  Today, four of these institutions are listed and three operate as Small Finance Banks (SFB). 

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The Fund is now fully exited and has returned capital to investors.

 

Our investors in IFIF  included British International, FMO, Gray Ghost, responsAbility, Triodos, Norwegian Microfinance Initiative, and others.