JM Financial, Lok Capital to infuse in Spandana

Hyderabad: JM Financial India Fund, a private equity fund sponsored by JM Financial Limited and Old Lane Partners LP, and Lok Capital, a Mauritius-based microfinance venture capital fund, have inked deals with Spandana microfinance institution to pump in Rs 40 crore and $ 2.25 million (about Rs 9.2 crore) respectively. Spandana, which operates in five states via 330 branches, proposes to use the investments to expand its branch network and pursue growth opportunities both organically and via acquisitions.