Nuveen, an investment managment, with participation from Triple Jump, an impact-focused investment manager advising the ASN Microkredietfonds, has closed a $50 million dollar equity investment in Kinara Capital.
Kinara Capital is a debt-listed company on the Bombay Stock Exchange that is known for disrupting MSME financing. KC is a fast-growing fintech propelling financial inclusion of small business entrepreneurs in India.
Nuveen, the investment manager of TIAA, offers a comprehensive range of outcome-focused investment services designed to secure the long-term financial goals of institutional and individual investors. Triple Jump provides investment opportunities in emerging markets and the funds managed by Triple Jump provide financing for companies focusing on financial inclusion, affordable housing and climate.
“We at Kinara Capital are immensely thrilled with the dual investment from Nuveen and Triple Jump who are uniting to support small business entrepreneurs in India, the world’s fastest-growing major economy,” said Hardika Shah, CEO of Kinara Capital. “This is a true attestation of our sustainable business model and the vast MSME market opportunity ahead of us. This fresh equity round will energize us to scale faster so that we can continue doing what we do best, which is to bring more small business entrepreneurs into the fold of financial inclusion.”