ACCION, Michael & Susan Dell Foundation and Unitus Equity Fund Invest in Swadhaar FinServe

October 14, 2008 Posted by Media Exposure, Unitus Equity Fund

MUMBAI, India, Oct. 14 /PRNewswire/ — ACCION International (through its Gateway Fund), the Michael & Susan Dell Foundation and the Unitus Equity Fund (UEF) announced investments in Swadhaar FinServe Private Limited, a microfinance institution (MFI) operating in the slums of Mumbai. The promoters of Swadhaar FinServe, Veena Mankar and Haseena Vahanvaty, bring together a unique blend of professional financial sector expertise and hands-on developmental sector experience.

Swadhaar Finserve will purchase the business of Swadhaar FinAccess, a non-profit MFI set up by the same promoter group in 2006 to pilot financial products and services for urban slums. The Unitus Equity Fund, a private equity fund managed by Elevar Equity LLC, and the Dell family foundation have both supported Swadhaar FinAccess in the past.

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