<article>Kolkata-based microfinance institution Jagaran Microfin has raised Rs 55 crore ($7.8 million) from two funds managed by <a href="http://dealstreetasia.com/tag/blueorchard" target="_blank" rel="noopener">BlueOrchard Finance Ltd</a>.</article>

Kolkata-based microfinance institution Jagaran Microfin has raised Rs 55 crore ($7.8 million) from two funds managed by <a href="http://dealstreetasia.com/tag/blueorchard" target="_blank" rel="noopener">BlueOrchard Finance Ltd</a>.
The funds were raised through the issue of non-convertible debentures, the company said in an official statement.
Unitus Capital was the exclusive financial advisor to Jagaran for this transaction.
Founded in 2010, Jagaran is a non-banking finance company, which is currently operational in five states in eastern India. The microfinance firm claims to have assets under management of Rs 288 crore as of September 2018 with 108 branches.
&#8220;In our fund-raising effort of the NCD from BlueOrchard, Unitus Capital had helped us, and the fund support from BlueOrchard will go a long way to change the lives of the poor in the areas we serve,&#8221; said Jagaran chairman Indrajit Gupta.
Founded in 2001, BlueOrchard offers premium investment solutions to qualified investors and debt and equity financing to institutions in emerging and frontier markets. With a global presence and offices in four continents, the firm has invested more than $5 billion in 350 institutions across 80 countries till date, providing access to financial and related services to over 37 million low-income individuals.
&#8220;We remain committed to the Indian financial inclusion ecosystem and the microfinance sector. We believe that MFIs with their constant quest for innovation and client focus are very well positioned for delivering cost effective micro credit,” said Nikunj Oli, Investment Officer at BlueOrchard.
Recently, Blue Orchard had also invested $4.7 million in New Delhi-based microfinance company <a href="http://dealstreetasia.com/tag/satya" target="_blank" rel="noopener">Satya MicroCapital Ltd</a>. Prior to that, it had also provided $4.6 million debt to Gurgaon-based <a href="http://dealstreetasia.com/tag/aye-finance" target="_blank" rel="noopener">Aye Finance</a>.
Also Read:
<a style="color: #ff0000;" href="https://www.dealstreetasia.com/stories/blueorchard-satya-microcapital-106435/" target="_blank" rel="noopener">Swiss impact investor BlueOrchard invests $4.7m in Satya MicroCapital</a>
<a style="color: #ff0000;" href="https://www.dealstreetasia.com/stories/india-aye-finance-blueorchard-96109/" target="_blank" rel="noopener">India: Microfinance lender Aye secures $4.6m debt funding from BlueOrchard</a>

Kolkata-based microfinance institution Jagaran Microfin has raised Rs 55 crore ($7.8 million) from two funds managed by BlueOrchard Finance Ltd.

Swiss impact investor BlueOrchard invests $7.8m in India's Jagaran Microfin

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Swiss impact investor BlueOrchard invests $7.8m in India's Jagaran Microfin

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