Patnis purchase stake in Grameen Capital India

Microfinance Focus, November 30, 2012: Grameen Capital India, a is a social business providing capital market access to impact-focused enterprises recently announced that Amit Patni and Arihant Patni have acquired a stake in the company from original investor IFMR Trust. 

The purchase of IFMR Trust’s stake by the Patnis forms part of a strategic decision by GCI, as it seeks to build on its current advisory practice by adding critical vehicles to create a “Capital with a Conscience” ecosystem. The investment of the Patnis illustrates their enthusiasm to make GCI’s vision a reality. 

GCI is a social investment bank that has facilitated more than INR 700 crores of capital (about $127 million) to microfinance institutions and other social enterprises serving the base-of-the-pyramid segment, indirectly touching the lives of more than 1 million beneficiaries. 

The recent stake purchase by Amit and Arihant Patni, both entrepreneurs with strong interest in technology and early-stage investments, validates GCI’s approach, adding traction to its efforts in achieving its social goals, and demonstrating confidence in the growing domestic impact-investment culture, as well as acceptance by the local business community of the social business approach.