Colleagues,
I’m pleased to share with you the news that Bamboo Finance – formerly Blue Orchard – has officially acquired Accion Investments in Microfinance, SPC (AINV), a private, for-profit equity fund that has provided capital to microfinance institutions (MFIs) since 2003. The transaction was announced today by press release.
Over its 10-year life, the AINV fund returned 15.62 percent IRR to shareholders, demonstrating the power of double-bottom-line impact investing. At the same time, the fund serves nearly 1 million borrowers and 1.2 million depositors who might otherwise have had no access to financial services. Harnessing private capital is critical in order to reach the 2.5 billion people who live in poverty and lack access to basic financial services, and the AINV fund is a model of how to harness that private capital.
Accion will continue to invest in MFIs as part of its overall strategy, which is centered on helping to build the next generation of top-tier MFIs, using impact investing to help push the frontiers of microfinance beyond MFIs, and on helping to build a stronger industry with high standards.
Regards,
Bruce MacDonald
Bruce J. MacDonald | SVP, Communications | Accion | 56 Roland Street, Suite 300, Boston, MA 02129
Tel +1 617.616.1546 | Fax +1 617.625.7020 | bmacdonald@accion.org | www.accion.org | @accion_global
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