Bamboo has made a return of 2.13 times and an IRR of 25.8 per cent from the sale of XacBank’s holding company TenGer Financial Group, according to the Asian Venture Capital Journal.
“It is an organization we got to know well, so we knew how good they were at operating in this specific environment with this kind of density, providing financial services to a population that has low income but a number of productive micro entrepreneurs,” Bamboo CIO Xavier Pierluca told the publication.
He added that the company’s loan book has increased to nearly $700m from $150m since Bamboo backed it with $16m in 2009.
Bamboo, which is based in Luxembourg with offices in Latin America and Asia, currently has assets under management of $250m across 46 investments in emerging markets.
Earlier this year the firm backed Philippines-based financial services startup Bridge, which launched after raising $24m.
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