Caspian Impact Investments raises $20 million in financing from OPIC
March 31, 2015
(OPIC)
WASHINGTON – Caspian Impact Investments (CII)
today announced that it closed a debt financing
commitment of $20 million from the Overseas
Private Investment Corporation (OPIC), the U.S.
Government’s development finance institution.
The OPIC commitment supports the growth of CII
India, an impact investment fund. Launched in
2013, CII India is an Indian multi-sector
social impact debt provider that provides debt
to enterprises engaged in small business
lending, microfinance, food & agriculture
and affordable housing, with plans to diversify
in to other impact sectors including healthcare
and livelihoods over the next 12-18 months. The
mission of CII is to provide debt capital to a
wide range of fast growing institutions that
serve low income or underserved communities,
directly or indirectly, in a responsible,
transparent and sustainable manner.
Viswanatha Prasad, Managing Director at
Caspian, said “Caspian Impact Investments aims
to be the leading debt provider to impact
enterprises in India. We see a big opportunity
to provide debt to impact enterprises where
commercial debt from local financial
institutions is not easily available. We are
delighted to have OPIC as a long-term partner
to anchor the Fund’s growth alongside our
shareholders. The fund has already disbursed
INR 1.4 billion to over 25 clients.”
Elizabeth Littlefield, President and CEO of
OPIC, said, “The significance of Caspian’s work
in India lies in their core focus on serving
the underserved. When I visited India earlier
this year, I saw firsthand the potential and
dynamism of the business community, and I look
forward to OPIC’s continued engagement there
alongside compelling partners like Caspian.
Amid the excitement of a quickly-expanding
economy, it is crucial to maintain growth that
is inclusive of all people. The high-impact
SMEs Caspian seeks to finance are exactly
what’s needed to catalyze this type of balanced
growth.”
Ms. Littlefield traveled to India in January
with U.S. President Barack Obama, who noted
that OPIC financing would help to expand
lending in many of India’s regions currently
underserved by banks and financial services.
CII India is managed by its investment advisor,
Caspian Impact Investment Adviser Private
Limited.
Welcome to the Exporting Source
Your one-stop resource for finding help to export to new customers, to learn about government export programs, to join export-promoting trade missions, to sign up for trade conferences and training, and to link to other exporting services. Whether you're an old hand at exporting or just getting started, the Exporting Source provides a place to locate foreign customers, export financing and foreign investment assistance.