Elevar Equity II, LP
May 2009, Seattle, USA
Legatum Ventures
|
Elevar Equity ("Elevar") provides equity capital primarily to high growth microfinance institutions and secondarily to entrepreneurial companies offering products and services to the underserved in emerging markets.
Elevar intends to bridge the gap between these underserved communities and global capital, helping to create a virtuous cycle of opportunity based on open access to finance and other services. Elevar Equity II, LP ("Elevar II") is the second Limited Partnership managed by Elevar, and currently has around USD 70 million in committed capital. Legatum Ventures and Omidyar Network were co-founding Limited Partners of Elevar II, each investing USD 20 million and serving on the LP advisory committee.
Portfolio Achievements since Inception
- Continued fundraising success, USD 69.3 million in committed capital;
- Two investments closed in successful and growing Indian microfinance institutions (Ujjivan and Madura);
- One investment closed in the facilitating rural infrastructure sector (Comat Technologies, an Indian Information and Communications Technology business centre network focused on rural markets);
- All three investments are based on innovative business models;
- Madura has begun offering a set of synergistic, larger-ticket individual loan products to its clients;
- Comat has opened more than 1,200 business centres across India and introduced skills training and financial services through its centres;
- Ujjivan crossed the 200,000 client mark in December 2008, having commenced credit operations in early 2006 as the first urban focused microfinance company in India.
Social Impact
- Elevar II will provide access to capital for companies operating in underserved markets, allowing them to create opportunities for themselves and the communities they serve;
- Elevar II invests in and supports entrepreneurs, the true agents of positive social change in developing markets;
- By investing in both MFIs and their supporting infrastructure, Elevar II will accelerate the impact of business led development across multiple markets;
- As a long term investor, Elevar II can support its investments over the timeframes necessary to realise sustainable social impact.
|
|
 |
Overview
Elevar Equity is a global growth private equity fund manager focused on the underserved four billion in developing countries.
Total Capital Invested
USD 20 million
Investment Thesis
- Global exposure to the microfinance industry and its future growth;
- World class, experienced microfinance private equity investment team;
- Strong performance track record with Fund I (UEF);
- Opportunity to participate as co-investors in a broad range of deals;
- Strategic relationship with co-founding Limited Partner (“LP”), Omidyar Network;
- Strategic advisory role through a position on the LP advisory committee.
Stake
N/A
Date of Investment
Security Type
- Limited Partnership interest
Other Large Investors
- Omidyar Network, Columbia Pacific Opportunity Fund, Omidyar - Tufts Microfinance Fund
LP Advisory Committee
Yes – Philip Vassiliou
Previous Investors
None
|
|