Vistaar Livelihood Finance (Vistaar LFI- http://vistaarlfi.com), a microfinance company based in Bangalore has raised Rs 15 crore in equity from Elevar Equity Advisors Pvt Ltd and SVB India Capital Partners.
With this capital infusion Sandeep Farias the founder of Elevar Equity and Ash Lilani the MD of SVB India Capital Partners will join Vistaar LFI board.
Vistaar LFI has been started by Brahmanand Hegde (Former head of Fullerton India’s Microfinance Division) and Ramakrishna Nishtala, two first generation entrepreneurs. The company plans to utilise the fund to provide customised finance facilities to women entrepreneurs engaged in non-farm micro and small enterprises and in opening new branches along with investments in technology.
The exact details on the quantum of stake the company has diluted and the price has not been revealed.
Vistaar Livelihood Finance was started in early 2010 and commenced operations only in March 2010.Vistaar LFI is also looking for the next round of equity raising in the next 12-15 months.