Date: 2009 | Amount: USD 9 million part of first close of USD 13 million | Country: Global | Sector: Microfinance
I managed the Omidyar Network’s anchor investment into MFX, the first dedicated microfinance currency risk solutions provider. The idea for MFX had been born in 2005 and I was involved in early discussions on its possible role and structure while at Morgan Stanley, where we had provided in-house hedging for the microfinance transactions we arranged, BOLD 2006 and BOLD 2007.
On behalf of Omidyar, I became the founding Chair of MFX in 2009
By 2013, MFX had hedged nearly half a billion dollars in loans to small entrepreneurs in developing countries covering more than 30 currencies. Its education programs have trained hundreds of micro-SME bankers across Africa on managing market risk.
Visit the MFX website.
Read the press release on the first close