Soros, Omidyar, and Google Collaborate to Finance Enterprises in India
February 20, 2008 | Read Time: 1 minute
The Soros Economic Development Fund, the Omidyar Network, and Google.org have announced that they are teaming up in a $17-million venture to finance small and medium-size enterprises in India, reports Reuters.
Said Neal DeLaurentis, vice president of the Soros Economic Development Fund: “Long ignored by commercial capital markets, small and medium businesses are an attractive investment opportunity, as well as an engine for economic growth.”
The Associated Press reports that the venture, Small to Medium Enterprise Investment Company, would fill the gap between loans offered by microfinance institutions and those of large commercial banks and private-equity funds.
The company’s investment adviser will be located at the Indian School of Business in the southern Indian city of Hyderabad.
(Free registration is required to view the AP article on the Washington Post site.)
