In the largest microfinance deal in the world, Hyderabad based SKS Microfinance has raised Rs 366 crore or $75 million from private equity investors. This is fourth round of fund raising by SKS. Sandstone Capital, an India focused hedge fund with $1 billion capital under management, has led the deal, while the other investors in this round include SVB India Capital and Kismet Capital.
This is the largest investment in a micro finance institution anywhere in the world, said SKS Microfinance founder CEO Vikram Akula. Since October last year the MFI has raised Rs 563 crore in three rounds of funding.