Hyderabad, India – As of March 2009, India Financial Inclusion Fund’s (“IFIF”) fund size has risen to US$58 million after having raised US$20 million in fresh capital. IFIF is advised by Hyderabad-based Caspian Advisors Private Limited (“Caspian”), who also manages Bellwether Microfinance Fund (“Bellwether”).

Set up in Mauritius in August 2008, IFIF is an off-shore India-focused equity fund, investing in high-growth microfinance institutions (“MFIs”) and microfinance enablers. IFIF’s primary focus is on equity investments in companies that are directly or indirectly associated with bringing about the inclusion of the poor within the formal financial system.

S. Viswanatha Prasad, Managing Director of Caspian, says: “We’re delighted to welcome our new investors into India Financial Inclusion Fund. Caspian’s track record and the resilience demonstrated by microfinance institutions and their clients have been instrumental in the Fund being able to attract additional capital in these difficult market conditions.”

Through a wide range of financial services that are both traditional and innovative - including credit, savings, insurance, or remittance facilities – IFIF seeks to address the issue of financial inclusion in a significant way so as to achieve its financial and social objectives.

Caspian’s Investment Director, Mona Kachhwaha, says: “ Not only does IFIF seek to deliver competitive financial returns to its investors, it also seeks to address the gap between the growing number of MFIs and the unmet financial demands of the clients. By providing funding that will contribute to the innovative diversification of financial products for the underserved, IFIF reiterates its commitment to maximising its multiple bottom line objectives.”

Caspian’s dedication to innovations in the microfinance space began with investments made by its first fund – Bellwether Microfinance Fund, a US$20 million Indian microfinance venture fund that now serves close to one million underserved clients.

IFIF’s investors include CDC Group, the Global Microfinance Equity Fund (GMEF), responsAbility Social Group AD, Gray Ghost Microfinance Fund, FMO and a U.S. Institutional Investor.

ABOUT CASPIAN ADVISORS - Caspian Advisors (“Caspian”) is an investment management and advisory services company focused on managing investment funds in the Financial Inclusion space. Set up in Hyderabad, India in 2004, Caspian manages Bellwether Microfinance Fund Private Ltd (“Bellwether”) and advises India Financial Inclusion Fund (“IFIF”).