United States of America
Last updated 12 May 2020, by Impactyield.
MicroVest's mission is to build capital markets that serve the poor. MicroVest+Plus, LP (MV+Plus) is a leveraged limited partnership. It was launched in October 2011 as a follow-on fund to MicroVest I, LP. The fund seeks to provide investors diversification through access to the informal sector and risk-adjusted returns with social impact.
MV+Plus provides customized and varied investment options to low-income finance institutions (LIFIs) serving populations at the bottom of the pyramid, including:
- Debt (Senior, subordinated, and convertible)
- Equity (common & preferred)
It should be noted that there can be no assurances that target returns will be achieved. All terms are subject to the offering documents for the Fund. Informational presentations and reports are available upon request.
- Risk-adjusted returns –MV+Plus seeks to return a target 7.5% - 8.5% IRR to Limited Partners. Noteholders are paid a fixed rate return of 1.75% to 3.75% depending on tenor and size of loan.
- Access to informal sector of frontier economies
- Expanded outreach- Each dollar of LP capital is leveraged up to four times
MV+Plus will identify financial institutions globally with a clear focus on the extension of credit and other financial services to the working poor. The fund will seek to make investments in LIFIs with strong credit profiles, sound operations, and favorable strategic and financial prospects. MV+Plus seeks diversification across markets, countries, institutions, and financing instruments.
Returns - It should be noted that there can be no assurances that target returns will be achieved. Returns to Noteholders are subject to change.
Terms - all terms are subject to the offering documents for the Fund.
of track record
the year funded
MicroVest Capital Management
Headquarters location: United States of America
Other funds managed by this asset manager: Access Africa Fund, LLCMicroVest Short Duration Fund, LP
Increase access to financial services and markets
Key performance indicators
Asset manager: MicroVest Capital Management
Product track record: Fund has 8 years of track record
Target IRR: 7.5%
Committed Capital: 47,239,536 USD (US Dollar)
Target return category: Below risk-adjusted market-rate of return
Fund domicile: United States of America
Product status: Closed - still investing
Inception year: 2015
Vintage year: n.a.
Target region: Global
Target close date: 01/12/2019
Product term: 8 years, annual distributions
Assets under management: 40,000,000 USD (US Dollar)
Investment size: Min: 500,000; Max: 4,700,000; Avg: 1,661,530
Currency of investments: USD (US Dollar)
Currency for fund / product figures: USD (US Dollar)
Fund investments to date: 59
Fund investments to date exited or repaid: 33
Management fee: 2.5%
Carried interest: 20%
Hurdle rate: 3%
GIIN Investors' Council Investment: Yes
Limited Partners / Investors: Accredited investors only.
Limited Partner / Investor Type: Development Finance Institution (DFI), Family Office, Other Institutional Investors
Phone number: 301-664-6680
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Business Development Manager
Business Development Associate
MicroVest is committed to addressing the capital needs of the working poor through investment vehicles that deliver both financial and social returns. We believe that access to properly structured and priced financial products can facilitate breaking a vicious cycle of poverty, creating a virtuous cycle of wealth creation and stability. MV+Plus seeks to mobilize capital on a commercial basis to those LIFIs with sound operations.
Every dollar invested in MV+Plus LP can be leveraged up to four times, expanding the Fund's total funding capacity and client outreach. As LIFIs have grown their portfolios, they have expanded financial services offered to small scale businesses. MicroVest believes access to tailored capital allows LIFIs to better serve their clients’ needs through
- continued expansion and tailoring of products
- lower cost products
- improved service levels
- increased geographic outreach
MicroVest utilizes a proprietary “Social Impact Scoring Model” to measure specific social indicators of an institution:
-Social Mission: exemplified in a clear and focused mission statement
-Governance and Staff Social Commitment: through a dedicated Board and social performance training
-Client Protection: the adoption of the Client Protection Principles or similar policies
-Outreach: to the most underserved populations