Unitus Capital helps Janalakshmi raise INR 65 crores

June 22, 2011 Posted by Media Exposure, Unitus Capital

Unitus Capital functioned as the lead financial advisor assisting Janalakshmi, an innovative urban microfinance social business based in Bangalore, India to raise its third round of funding of INR 65 crores (approximately USD$14.5 million.)

London based Citi Venture Capital International, which manages over $7 billion in equity investments and committed capital including existing investors have made the investment in Janalakshmi for a significant minority stake.

“The investment is a validation of the business model that we have pursued relentlessly for the past several years and which helped us weather the unprecedented crisis in our sector with minimal impact,” Janalakshmi founder and chairman Ramesh Ramanathan said. He said the core pillars of their business model are a constant focus on the customer, the pervasive use of cutting edge technology and a deep and disciplined management team.

“This is the first large equity raise announced since the Indian microfinance crisis began,” said Eric Savage, co-founder and president of Unitus Capital, which acted as lead financial advisor to Janalakshmi for the transaction.

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