Unitus, an organization dedicated to advancing market-based solutions to global poverty, was recently featured in the Puget Sound Business Journal.
Seattle, WA -- (ReleaseWire) -- 07/25/2008 -- Unitus, an international nonprofit organization dedicated to advancing market-based solutions to global poverty, is praised by the Puget Sound Business Journal for raising $56 million for a new private equity fund to be invested in microfinance groups aiding world poverty. The weekly journal provides Puget Sound’s latest breaking business news in the marketplace, resources, events and career.
The article titled “Unitus launches fund with $56M” explains the purpose of the organization and how they raised the amount. “Legalum Group, a Dubai-based investment firm, and Omldyar Network, a philanthropy established by eBay founder Pierre Omldyar and his wife, Pam have contributed $20 million,” wrote Puget Sound Business Journal staff writers.
Microfinance groups that work with Unitus provide credit in the form of small loans, insurance and savings accounts to the working poor in developing countries. Unitus’ new investment fund is the second in the last two years. In 2007, the company completed a $23.4 million fund, which was invested in six microfinance institutions.
For more information, visit http://www.unitus.com.
Unitus is an international nonprofit organization dedicated to advancing innovative, market-based solutions to global poverty. The company works to create pathways out of poverty by increasing access to life-changing microfinance services, such as small loans, insurance and savings programs designed to serve the poor. The Unitus portfolio currently reaches more than 4 million families through partner microfinance institutions (MFIs) in Argentina, Brazil, Cambodia, India, Indonesia, Kenya, Mexico and the Philippines. They are now laying the groundwork to expand our reach more deeply into East Africa, Southeast Asia, and also into China, areas where microfinance can benefit millions of the working poor.