Avishkaar Goodwell India Microfinance Development Company I

Aavishkaar Goodwell India Microfinance Development Company I (AGIMDC I) was business development company for the micro-finance sector in India. It invested in entrepreneurial micro-finance organisations on a socially and commercially sustainable basis. It was managed by a joint venture partnership between the Goodwell team and the Aavishkaar team in India. AGIMDC I closed in mid 2008 with a committed capital of over USD$18 million, at a time when commercial equity investments started to find ground in Indian micro-finance.
The team played a critical role in the equity rounds in which AGIMDC I invested, as well as in supporting the MFIs in their post-investment growth and transition. In addition, the team played a significant role in subsequent funding rounds, and provided investment banking support to one of its investee MFIs (without a fee) helping it to negotiate a second round investment. The Aavishkaar Goodwell approach gained recognition in the sector as one that goes beyond smart money deployment including hands-on strategic and business support and agenda setting conferences.

Despite the micro-finance crisis in India, AGIMDC I still stood well above the value of nominal invested amount. This was due to the diversification of the portfolio and the timely hands-on support and monitoring provided by the investment teams. AGIMDC’’s first investment was an investment in Share Microfine in 2007. Subsequently, AGIMDC I invested in Basix, Belstar, Grameen Koota, and Utkarsh and contributed to the creation of institutions like Equitas and Suryoday.

For more information, please contact Wim van der Beek or Els Boerhof at info@goodwell.nl.