Previous Projects

We have developed and executed several innovative projects and financial transactions since we began in 1991, each of which was conceptualized to foster the development of a sustainable microfinance industry in developing countries:

MicroVest
In 2003, Seed Capital partnered with CARE (USA) and the Mennonite Economic Development Associates (MEDA) to create MicroVest Capital Management, the first private microfinance investment firm in the US. MicroVest acts as a capital-mobilizing intermediary for microfinance “banks” throughout the world. By providing debt and equity capital and management oversight to microfinance institutions, MicroVest aims to expand their capacity while working to build capital markets that work for the poor. Its inaugural fund, MicroVest I, LP was launched in 2004 with $15 million in investor subscriptions.

Banco de Desarrollo Unificado (Dominican Republic Bank)
Seed Capital researched and created a business plan for US$ 10 million private sector bank in the Dominican Republic that was transformed into a microfinance institution in 1999. We also helped with management selection, MIS systems, and policies and procedures.

Latin America Challenge Investment Fund (LA-CIF)
Seed Capital developed and led the financing of the LA-CIF, a $15 million for-profit company whose mission is to assist MFIs in accessing credit within commercial markets where market inefficiencies have previously impeded such access.

Banco Solidario, Ecuador
In 1996 we invested $1.3 million in Banco Solidario-Sociedad Financiera Enlace (Ecuador) as part of a consortium, utilizing money received through a USAID grant, and representing initially a 10% interest in the company. This investment was instrumental in the institution’s conversion to the regulated bank, Banco Solidario. Today Banco Solidario has over $100 million in assets and is widely viewed as a leading example of successful commercial microfinance. Seed Capital was an active overseer of the bank through its seat on the Board of Directors.

DEVCAP
We developed and sponsored DEVCAP Shared Return Fund, a registered U.S. mutual fund, in conjunction with Save the Children, Catholic Relief Services and Alternative Technologies International. Investors in the Fund directed a portion of their annual return to various micro-finance programs of the sponsors. At its height, the mutual fund had assets in excess of $27 million. (1995)

BancoSol
Between 1993 and 1996 we invested in BancoSol (Bolivia), by buying certificates of deposit.

ProFund
Seed Capital helped organize ProFund, a $23 million regional investment fund that specializes in the capitalization of microfinance institutions in Latin America. Seed Capital sat on PrpoFund’s investment committee from 1992 until1998.

Other Projects
We have provided expertise to several other organizations in microfinance through an active consulting practice. These include

CARE:

Conducted market study including in-depth financial assessment of 20 microfinance institutions worldwide.
Reviewed different funding and financing mechanisms for a US$ 10 million microfinance fund.

Catholic Relief Services and USAID

Helped design small venture capital fund to invest in equity and quasi-equity of Indonesian SME financial institutions.