MicroVest Raises $7M for Hedge Fund

Nov 19 2010 | 11:12am ET

MicroVest Capital Management has raised $7.1 million for its MicroVest Short Duration Fund, according to regulatory filings.
 
The hedge fund, with a $500,000 minimum investment requirement, is the latest in the MicroVest family of funds making debt and equity investments in promising, existing microfinance and other low-income financial institutions across broad geographic areas.

Canadian-based Sarona Asset Management is an anchor investor in the fund, having placed $3.3 million in the new vehicle through its Sarona Risk Capital Firm.

“We believe our investment in the MicroVest Short Duration Fund will allow institutional investors, non-profit organizations and foundations the ability to invest their assets in a highly liquid, low risk vehicle that supports the growth of the microfinance banking sector,” said Gerhard Pries, president of Sarona.

MicroVest was founded in 2003 by three non-profit institutions: CARE, MEDA and the Seed Capital Development Fund. Gil Crawford serves as chief executive officer of the firm, Candace Smith  as chief financial officer, and Michael Edberg as director of investments. The MicroVest board is composed of professionals with extensive international private sector experience.
 
Since launching operations in 2003, MicroVest has provided financing to over 50 microfinance institutions in 25 countries.


In Depth

Q&A: High Conviction, Low Correlation

Oct 30 2014 | 7:35am ET

Acadian Asset Management's numbers are big: over $70 billion in assets under management...

Lifestyle

Ex-Hedgie Steyer Gives $56M To Climate Action Super PAC

Oct 28 2014 | 9:23am ET

Retired Farallon Capital founder Tom Steyer has poured almost $56 million into his...

Guest Contributor

Hedge Funds Weather A Data Management Perfect Storm

Oct 22 2014 | 12:28pm ET

From a regulatory standpoint, nearly every development since the crisis has placed...

 

Videos

Editor's Note

    Guidelines for Guest Articles

    Oct 22 2014 | 9:46am ET

    We are always looking for guest articles from hedge fund managers and buy-side firms.

    If you are interested in submitting a contributed piece for possible publication on FINalternatives, please take a look at the specs. Read more…

 

Futures Magazine

October 2014 Cover

The yield curve and stock market response

Traders form habits quickly. Understanding these and their effects can better equip us to decipher actual market moves.

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.