Lok Capital, a Mumbai-based social investment firm focused on providing micro finance institutions with management expertise and operational best practice, has closed its second fund with commitments of $65m.
Lok Fund II attracted capital from existing investors including CDC, International Finance Corporation and KfW, as well as new investors Proparco and ASN Novib.
The vehicle will seek investment opportunities valued at between $2m and $4m in financial institutions, micro-credit, mobile payments, remittances and small business lending. It will also target the vocational training, low-cost healthcare and education sectors.
Lok Capital is one of India’s first venture capital firms. The firm’s inaugural fund sealed commitments of $22m, and was fully invested by 2010. Recent deals include a $3m stake in rural business process outsourcing company RuralShores.
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