Expands on our mission to shape a more livable world through purposeful investing
When MicroVest was founded in 2003, we had a clear vision of supporting financial inclusion and poverty alleviation for the world’s unbanked. At the time, virtually all responsible microfinance programs were carried out by non-profit or non-government entities, which although well-intentioned, proved unsustainable by virtue of their operating model.
We sought to change that.
For the past 18 years, we have harnessed the private sector’s commercial approach to capital allocation to invest in the world’s most responsible Micro & SME Finance Institutions–many of whom serve as the first provider of formal credit to underserved, entrepreneurial individuals and small businesses. Since then, we have underwritten more than $1 billion in loans to some 200 financial institutions across 60 countries to help create economic opportunities for the world’s most vulnerable.
Today, we’re pleased to announce that we’ve joined forces with DAI to help expand on our mission to shape a more livable world through purposeful investing.
For the past 50 years, employee-owned DAI has been a trusted partner to corporations, governments, multilateral organizations, and philanthropies on delivering solutions across a wide range of global development issues. With corporate offices across five continents and more than 100 active projects worldwide, DAI brings to this partnership significant domain expertise across the areas of economic development, sustainable business, climate change, the environment, governance, gender, and health, in addition to an extensive network built through decades of work in emerging and frontier markets. As MicroVest works to support its Micro & SME Finance borrowers in meeting the evolving challenges confronting their communities, our partnership with DAI represent an infusion of new, added value to MicroVest’s investors, portfolio companies, and stakeholders.
In acquiring MicroVest, DAI is laying the foundation for a substantial and robust asset management business to complement its existing activities in the global development space. The business case for this partnership is based on adding complementary capabilities and generating mutual benefits. MicroVest’s business operations will proceed unchanged under the same management team and myself.
We’re excited for what’s ahead and we cannot wait for you to join us through our next phase of growth.
Sincerely,
Gil Crawford
Co-Founder
MicroVest Capital Management