Sources stated that Janalakshmi Financial Services is now close to putting up INR300 crore via private equity fund investments. Janalakshmi Financial Services is a Bangalore-based non-banking financial company focused on financial services that tend to the urban poor. The firm had now raised a total of about INR250 crore. An additional transaction is expected to be sealed within the next few weeks, sources with knowledge of the transactions said.
Janalakshmi Financial Services known to be one of the more competitive micro-finance institutions in India and is believed to have a book value of close to INR1,000 crore. Among existing investors in Janalakshmi Financial Services are international blue-chip investors. These investors include the Bellwether Microfinance Fund, Michael & Susan Dell Foundation, Lok Capital, Gawa Microfinance Fund, India Financial Inclusion Fund, Tree Line Investment Management, and Citi Venture Capital International.
Janalakshmi Financial Services has been an active participant for the betterment of the society in India. The firm has been engaged with various stakeholders that strive to bring social change. Funds in Janalakshmi Social Services, the company said, can only be employed in companies that help address social issues.
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