Legatum Ventures seeks to support companies that will lead the financial inclusion sector towards increased scale, professionalism and capital efficiency, thus adding value to both clients and society as a whole. Legatum Ventures has made four financial inclusion investments to date – three direct corporate investments and one fund investment.
SHARE Microfin Limited is one of the largest MFIs in India with an outstanding loan portfolio of over USD 460 million spread across more than 3.5 million clients in 19 states. Led by the founder of the modern microfinance industry in India, Mr. Udaia Kumar, SHARE is committed to fostering increased prosperity amongst low income communities through equitable and transparent access to quality financial services. In September 2007, Legatum Ventures invested USD 25.2 million for a majority stake in the company, following which SHARE has more than doubled its loan portfolio and number of clients. www.sharemicrofin.com
A.LITTLE.WORLD (“ALW”) is a payment platform working to dramatically increase financial inclusion in India. By leveraging proprietary, low cost Near Field Communication (“NFC”) and mobile-based technologies, ALW has established the fastest growing Business Correspondent network in the country, facilitating widespread branchless banking across rural India. Since 2007, Legatum Ventures has invested a total of USD 3.67 million for a minority stake in the company. Our investment has helped ALW to significantly ramp up its client acquisition rates, as well as to develop market leading technology. www.alittleworld.com
The Elevar Equity Fund II, LP (“Elevar II”) is a global growth private equity fund focused on the four billion underserved people in developing countries. Elevar II is the second Limited Partnership managed by Elevar Equity, and currently has around USD 70 million in committed capital. In May 2008, Legatum Ventures and Omidyar Network each committed USD 20 million as founding Limited Partners. These two investments served to seed the fund and also to catalyse a greater flow of capital from other investors. www.elevarequity.com