15 April 2008
Aavishkaar Goodwell expands portfolio with investments in Grameen Koota
and Equitas.
In the first quarter of 2008, Aavishkaar Goodwell became a shareholder in Bangalore-based Grameen Koota and in
Chennai-based Equitas. Grameen Koota started 10 years ago as a non-profit entity, but has recently gained a
for-profit status. Aavishkaar Goodwell has invested USD 2.3 mln (INR 92 million) in the transformed MFI that
is operating according to the Grameen model. They have 44 branches and about 140,000 clients and plan to
grow to 2 million clients over the next 5 years.
Aavishkaar Goodwell also finalized a USD 1.5 mln (INR 60 million) investment in Equitas. Equitas started
in 2007 and has very ambitious growth plans. Their founder typically belongs to the second generation
MFI entrepreneurs, with a corporate background in banking. They believe in the strength of operational
efficiency and the smart use of IT. To this end they already show very promising productivity numbers.
By the end of March they had 16,000 clients, and are working towards 450,000 clients by the end of
March 2009.
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25 February 2008
Els Boerhof is joining Goodwell as partner as of March 1st. Previously Boerhof was Manager of the
Micro & Small Enterprise Fund MASSIF of FMO, the Dutch development bank. Wim van der Beek, founding
partner of Goodwell comments: "We are very excited to welcome Els as a new partner. With her
background in development banking she knows the microfinance sector very well. In the coming
years, Els will play a significant role in taking Goodwell to the next level in our growth and
will lead our efforts in expanding our investor base in the development finance sector."
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5 September 2007
Goodwell is a network sponsor of this year's TBLI Conference in Paris, on November 15-16. The Triple
Bottom Line Investing Conference is the leading international investment conference on ESG (Environment,
Social and Governance) matters. Goodwell is represented in the workshop on Microfinance and investing
in emerging markets.
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5 September 2007
Microfinance Seminar - October 1, 2007. Goodwell and FMO are hosting a seminar on Microfinance:
Towards the Mainstream - Innovations and new business models. The seminar showcases innovative
developments in the microfinance sector, mainly from India, such as a new franchising model,
smart cards, mobile banking and microinsurance. The event brings together selected participants
from the development sector, mainstream finance and social investors, and is 'by invitation only'.
25 July 2007
IFC, FMO and Deutsche Bank invest in Aavishkaar Goodwell to scale up microfinance in India
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15 May 2007
Aavishkaar Goodwell has signed an agreement with Share Microfin Ltd
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3 May 2007
Aavishkaar Goodwell partnership with IntelleCash Microfinance Franchise Package
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26 April 2007
Aavishkaar Goodwell sponsors Srijan Business Plan Competition
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