Bamboo Finance, a Luxembourg-based private equity firm specializing in investing in business models that benefit low-income communities in growth markets, held the $31m first close of its second financial inclusion focused fund.
Investors included Teachers Insurance and Annuity Association of America (TIAA-CREF) and AXA-IM.
The Bamboo Financial Inclusion Fund II will make equity investments in the capital of banks and financial services companies targeting microenterprises, SMEs, the low and lower middle income segments as well as mobile money operators, correspondent banking businesses in growth markets where there remains significant exclusion from formal financial services globally in Africa, the Middle East, Asia and Latin America.
Founded in 2007 and led by Xavier Pierluca, Chief Investment Officer, and Jean-Philippe de Schrevel, Chief Executive Officer, Bamboo Finance has built a diversified portfolio of financial inclusion private equity investments representing 31 companies in 22 countries.
FinSMEs
17/04/2015