Microfinance Private Equity

Bhartiya Samruddhi Finance gets Rs 118 crore equity investment from Matrix Partners

In the third round of capital raising, Bhartiya Samruddhi  finance (BSFL) has received Rs 100 crore from Matrix Partners India as lead investor and it will hold an 18 per cent stake in BSFL after this deal is completed.

The other two investors who have invested in BSFL along with Matrix Partners India are Hivos Triodos Fonds (Rs 12.7 crore) and Lok Capital (Rs 5.5 crore).The net worth of BSFL, a part of the BASIX group, was about Rs 200 crore at March-end. The investment transaction was a combination of capital expansion and secondary sale.

BSFL-Basix-microfinance

Bhartiya Samruddhi Finance Limited (BSFL)

Matrix Pvt. Equity Partners Llc is an investment firm with INR 1,500 crore under its management. The firm invests in companies targeting the Indian domestic market with a sector independent investment strategy focused on generating exceptional returns. The firm invests up to INR 125 crore in a company depending on its stage of development and has invested in several companies including FIITJEE, Itzcash Card, Siesta Hospitality and Tree House.

Hivos Triodos Fonds is a Netherlands based fund that invests in microfinance companies.

Earlier BASIX had gone through two rounds of fund-raising in which Shore Capital and ICICI Bank had made early stage investments in 2001. Recently ICICI had sold the bulk of it’s stake in BSFL  for an undisclosed sum. Bhartiya Samruddhi Finance’s (BSFL) promoter, BASIX Microfinance, plans to buy back a 2.8 per cent stake from private sector lender ICICI Bank in the coming days  to consolidate its holding in the company.

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