PE funds including Tata Capital and Morgan Stanley Global Private Equity will pick up a significant minority stake in fourth round of funding for urban micro-lender Janalakshmi Financial Services for Rs.350 crore. Janalakshmi, promoted by former Citibanker Ramesh Ramanathan, offers services to 50,00,000 customers across 47 cities and has applied for a licence to transform itself into a bank.
From the Venture Intelligence PE Deal database: In March 2007 Lok Capital and Michael & Susan Dell Foundation had invested $.70 million, In March 2009 Bellwether and Michael & Susan Dell Foundation had invested $1.58 million in Janalakshmi. In March 2010, Tree Line Asia Master Fund and Bellwether had invested $8 million. In June 2011, Citi and Tree Line Asia Master Fund had invested $14 million and in July 2012 Citi, India Financial Inclusion Fund, Tree Line Asia Master Fund and GAWA Microfinance Fund had invested $14.5 million
Source: Economic Times
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