Vikram Akula-promoted SKS Microfinance has recently raised Rs 147 crore through a third round of equity infusion.The investors include two new US-based strategic players, Silicon Valley Bank and Columbia Pacific, apart from the existing players like Sequoia Capital, Vinod Khosla and Odyssey Capital.
Silicon Valley Bank is a financial services company which is focused on entrepreneurial technology and life sciences companies for the past 25 years.
Columbia Pacific is a company involved in the healthcare space. The transaction was completed in December 2007 and the funds will be used to financing the microfinance institution’s expansion plans in 2008, said SKS Microfinance chief operating officer MR Rao.
Read more in The Economic Times article.
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