Social VC Investments
MFI Annapurna Finance raises $20-M from German development institution DEG
Bhubaneswar-based microfinance institution (MFI) Annapurna Finance has raised USD 20 million from German development finance institution DEG. It will use the funds to boost its financial inclusion objectives, getting more women borrowers in rural India into the formal financing ecosystem. Unitus Capital acted as an exclusive advisor to the transaction. With a gross loan portfolio of INR 5,128 crore in September 2021, and its microfinance operations spread in 336 districts across 19 states, Annapurna is stated to be India's fifth largest NBFC-MFI currently. It had raised USD 30 million from Nuveen Global Impact Fund in March 2021.
Between Mar-10 and Mar-21, Annapurna raised nearly $113-M from TIAA, Symbiotics Group, Oikocredit, Oman India Joint Investment Fund, ADB, Bamboo Finance, Sidbi VC, BIO, Incofin, and Dia Vikas Capital. Some of the investors have made full and partial exits. (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)
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