Belstar Investment and Finance is the microfinance arm of Hand in Hand, a non-governmental organisation.
Belstar Investment and Finance Pvt Ltd, a Chennai-based microfinance firm, is planning to raise a venture capital round of $3.6 million (Rs 17.5 crore).
The firm has started discussions with investors and International Finance Corp (IFC), the private investment arm of the World Bank, will start due diligence on the firm soon, VCCircle has learned. Belstar could also look at more investors.
IFC has placed quite a few bets on India’s microfinance industry. It was recently looking to invest in the $50 million PE round of Share Microfin Ltd.
Other MFIs backed by the fund in India include Bhartiya Samruddhi Finance Ltd and Asomi Finance Ltd. It has also backed several MFI focused funds like Aaviskaar Goodwell and Lok Capital, besides making direct investments in the sector. Rest of the article