Elevar raises second poverty-focused fund

The anchors of the new fund, Elevar Equity II, are Legatum and Omidyar Network. The new fund is also an independent strategic affiliate of UnitusInc, an international non-profit organisation.

Sandeep Farias, managing director at Elevar, said, “Our strategy is to challenge discrimination and democratise the distribution of opportunity by investing in companies providing high volume, low-cost services to the poor and their communities.”

Elevar Equity II is the second poverty-focused fund managed by the Elevar team and follows the Unitus Equity Fund.

Through both funds, the Elevar team has led series A investments in Indian microfinance institutions such as SKS Microfinance, Ujjivan, Grama Vidiyal, Madura Microfinance, Swadhaar, Mexico’s Grupo Crediexpress and FINSOL in Brazil. Elevar has also made two non-financial services investments – Moksha Yug Access, which focuses on rural supply chains, and Comat Technologies, which delivers government service to rural communities.  

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