Bangalore-based Vistaar Microfinance raises Rs 15 crore from Elevar, SVB Capital

Microfinance Monitor, May 18, 2010: Bangalore-based Vistaar Livelihood Finance (Vistaar LFI), a newly formed microfinance company, has raised Rs 15 crore in equity from Elevar Equity Advisors Pvt Ltd and SVB India Capital Partners, said a report by VCCircle.

The company plans to utilise the fund to provide customised finance facilities to women entrepreneurs engaged in non-farm micro and small enterprises, apart from utilizing in opening branches, developing technology front and hiring people for running the business.

Promoted by Brahmanand Hegde and Ramakrishna Nishtala, Vistaar LFI is an NBFC microfinance company targeting to provide livelihoods finance to those who are between the individual loan customers and the traditional microfinance customers.
As part of the deal, Sandeep Farias, managing partner, Elevar Equity, and Ash Lilani, MD, SVB India Capital Partners, will join Vistaar LFI board.

Vistaar LFI is promoted by Brahmanand Hegde and Ramakrishna Nishtala, two first generation entrepreneurs.
The company was launched a month-and-a-half back, and targets 300-350 branches serving 1.2 million customers in the next four years, said the report.