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Hyderabad, July 13

JM Financial Fund and Mauritius-based microfinance venture capital fund, Lok Capital, have signed agreements with Hyderabad-based Spandana Sphoorty Innovative Financial Services Ltd to invest Rs 40 crore and Rs 9.2 crore respectively. “We are pleased to partner with JM Financial Fund and Lok Capital. We believe these partnerships will help Spandana reach the next level of scale and professionalism,” said Ms Padmaja Reddy, Managing Director, Spandana, in a relea se. The investments would be used to expand Spandana’s branch network and pursue organic and inorganic growth opportunities, she added. —

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