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Bamboo Finance holds $31mln first close for Financial Inclusion Fund II

Private equity firm Bamboo Finance announced the first close of $31 million for The Bamboo Financial Inclusion Fund II last week, with cornerstone commitments from TIAA-CREF, the US pension fund and AXA Investment Management.

 

The fund will target equity investments in the capital of banks and other financial services companies targeting microenterprises, SMEs, the low and lower middle income segments as well as mobile money operators in emerging markets including Africa. Bamboo will look to leverage the experience, networks and proprietary pipeline gained through the investment of prior funds to build a portfolio that will deliver a combination of attractive returns for the fund’s investors as well as significant impact to MSMEs looking to access high quality, affordable financial services.

 

Bamboo manages $280 million in three global funds, with a portfolio of 46 investments in 30 emerging market countries.

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