Singapore-based private equity firm Affirma Capital has reached an agreement to lead a Rs 350 crore ($47 million) funding in Indian non-bank financial company Belstar Microfinance, according to an announcement.
Affirma Capital will invest Rs 300 crore ($40.4 million) out of the total. Belstar’s parent firm Muthoot Finance, as well as existing investor Danish asset management company Maj Invest, will also participate in the investment.
