DAI acquires international asset management company, MicroVest


BETHESDA, MD., December 2, 2021 / PRNewswire / – DAI announced today that it has acquired MicroVest Capital Management (“MicroVest”), one of the world’s leading lenders of responsible financial institutions, an acquisition that will expand the capabilities of DAI’s investment management arm, DAI Capital.

Founded in 2003, MicroVest is a licensed investment advisor that allocates private investments to financial institutions serving disadvantaged and underbanked businesses in emerging markets. The company spent more than $ 1 billion to some 200 financial institutions in 60 countries to help create economic opportunities and facilitate financial inclusion.

Active in over 100 countries, employee-owned DAI works with governments, donors, businesses and philanthropic organizations to deliver integrated development solutions across technical disciplines including economic development, sustainable business, change climate and environment, governance, gender and health.

The combination of DAI and MicroVest reflects the two companies’ shared commitment to mobilize private sector capital to create jobs, reduce poverty and advance the United Nations Sustainable Development Goals.

“This acquisition aims to stimulate productive investment and economic growth in the places that need it most,” said DAI President and CEO. Jim boumgard. “The combination with MicroVest adds a rich vein of expertise to DAI’s existing asset management team, connects this combined team to a larger network of investors and provides DAI with a platform on which to build a business. world-class, high-impact asset management. “

MicroVest, DAI’s first asset management acquisition, will strengthen DAI Capital’s ability to raise and deploy private capital in frontier and emerging markets. The transaction complements DAI’s recent acquisition of Magister Advisors, an investment advisor focused on Africa and the MENA region. As a member of DAI Capital, MicroVest will retain its management team and continue to benefit from the leadership of the founder of MicroVest, Gil crawford.

“I am delighted to partner with DAI for this next phase of MicroVest’s growth,” Crawford said. “In its 50 years of activity, DAI has found the right formula to balance a global perspective with local knowledge. DAI’s local networks and technical expertise represent an infusion of new added value for MicroVest investors, portfolio companies and stakeholders.

Elizabeth Littlefield, DAI Board Member, former President and CEO of CIPO (now the Development Finance Corporation, or DFC), welcomed the announcement. “Promoting sustainable development on a scale that really makes a difference for people and the planet requires mobilizing much larger amounts of private funds,” said Littlefield. “The marriage of DAI’s global development expertise and MicroVest’s investment mindset is the right intersection of the right networks at the right time. “

About DAI
Founded in 1970, DAI is a global development company with offices on five continents. The company addresses fundamental social and economic development problems caused by inefficient markets, ineffective governance and instability. DAI Capital is DAI’s asset management and investment advisory arm, dedicated to raising private capital in frontier and emerging markets. DAI Capital advances DAI’s mission by channeling investment into these markets, which promotes economic growth, creates jobs and reduces poverty.

About MicroVest
MicroVest specializes in the allocation of private debt capital to responsible microfinance and small and medium enterprise finance institutions serving unbanked and underbanked microentrepreneurs and small businesses in emerging markets. As one of the first US-based microfinance investors, MicroVest has built a reputation since 2003 for investing in institutions whose interests are aligned with the borrowers and the communities they serve.

MicroVest is a Registered Investment Advisor, Certified B Corporation and a wholly owned subsidiary of MicroVest General Partner Holding LLC, a company Delaware Statutory public utility company whose object is to create scalable investment opportunities that support businesses and projects in underserved or underfunded sectors and communities around the world. MicroVest is a signatory of the United Nations Principles for Responsible Investment (UNPRI) and Operational Principles for Managing Impact.

DAI SOURCE; MicroVest Capital Management


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