Greg Casagrade is bullish on launching new microfinance institutions and investing in the microfinance sector, as he advocated as MFCNY’s guest speaker on Monday April 6.
Founder and President of South Pacific Business Development Foundation (SPBD), Greg also founded MicroDreams, a microfinance acceleration fund working with emerging microfinance institutions, and serves on the boards of the International Association of Microfinance Investors, Microfinance Pasifika and Planet Finance.
After a senior career with Ford Motor Company in Asia, Greg got his start in microfinance after learning about it from his brother; and he was quickly hooked on the dynamism and social impact of the business. He launched SPBD, the leading and first successful microfinance institution in the Pacific Islands region, despite discouragement by regional and development experts. Since then, he has bucked donor-funded approaches by focusing on commercial business practices.
From his experience as an owner-investor in the microfinance and high-tech fields, Greg sees great potential for growth in the microfinance field and advocates for industry development to support growth of microfinance investment vehicles. (Greg is also a founding director of the Ice Angels, Australasia’s largest angel investor group.) Among his recommendations are:
• Increase primary market development – Greenfield MFIs are very transformative, whether funded by family and friends, angel investors ($100K-5M), or venture capital ($4M-100M). Angel (or mentor) capital offers the benefits of helping with management and strategy and offers higher rewards (while more often can lead to busts). Starting up a new MFI is not difficult, he says, if you find the right talent and manage the venture well.
• Develop secondary market to increase liquidity. The industry needs:
o A centralized microfinance exchange
o Increased M&A activity for consolidation. New M&A specialty firms can help.
o Standardized term sheets to provide increased leverage to local owners and to provide greater confidence and efficiency through standardization
o Standardized data reporting metrics for increased confidence and improved equity rating methodologies like S&P’s instead of operationally oriented models
• Greater angel capital for greenfields and scaling up. This can be done by gathering 20 committed investors with a minimal investment of $250K and following traditional angel capital procedures.
Throughout his presentation, Greg’s pure passion and vision for the microfinance field was palpable. He believes the field has the potential to grow exponentially to meet the needs of the unbanked globally. And he exhorted attendees to take action to realize this potential.
Sunday, April 26, 2009
Monday, April 6, 2009
Angel Investing in Start-Up MFIs - Featuring Greg Casagrande
The Microfinance Club of New York presents:
Angel Investing in Start-Up MFIs
Featuring Greg Casagrande
The discussion will focus on starting and growing new
microfinance institutions, greenfield investing and using
equity capital to scale up operations.
WHEN: Wednesday, April 8th, 2009; 6:30-8:30PM
WHERE: NYC Seminar and Conference Center, 71 West 23rd Street
This event is free for MFCNY members. There is a fee of $15 for non-members. RSVP to mfclubny@gmail.com. Please be sure to include the event title in the subject of the email to confirm your attendance.
Speaker Bio:
Greg Casagrande is the Founder and President of South Pacific Business Development Foundation (SPBD) of Samoa, the leading and first successful microfinance institution in the Pacific Islands region. He is also founder of MicroDreams, a microfinance acceleration fund working with emerging microfinance institutions in Africa, Latin America and the Pacific.
Greg also serves as a director on several microfinance industry boards. He serves as a director on the boards of the International Association of Microfinance Investors (of New York), Microfinance Pasifika (of Vanuatu) and Planet Finance (of Paris), and as a fund advisor to Plebys – a for-profit "Base of the Pyramyd" investment fund based in Irvine, California. He also served on the United Nation’s Board of Patrons for its International Year of Microcredit – 2005.
In addition to his microfinance activities, Greg promotes hi-tech entrepreneurship. He is a founding director of the Ice Angels, Australasia’s largest angel investor group. He also serves as Chairman of three New Zealand headquartered software firms: Biomatters, Calcium and English-To-Go. Prior to his involvement in microfinance and angel mentor capital, Greg recorded significant achievement with Ford Motor Company, Mazda Motor Company and Coopers and Lybrand in product development, manufacturing, marketing and financial management positions. He led teams in the U.S., Japan and Europe and was honored to be the youngest-ever Buchou (Division General Manager) of any major Japanese corporation. Greg has an MBA in Finance and Marketing from Kellogg School of Management, a MS in Accounting from NYU Stern School of Business, a BA in Economics with high distinction from Colgate University and is a CPA.
Angel Investing in Start-Up MFIs
Featuring Greg Casagrande
The discussion will focus on starting and growing new
microfinance institutions, greenfield investing and using
equity capital to scale up operations.
WHEN: Wednesday, April 8th, 2009; 6:30-8:30PM
WHERE: NYC Seminar and Conference Center, 71 West 23rd Street
This event is free for MFCNY members. There is a fee of $15 for non-members. RSVP to mfclubny@gmail.com. Please be sure to include the event title in the subject of the email to confirm your attendance.
Speaker Bio:
Greg Casagrande is the Founder and President of South Pacific Business Development Foundation (SPBD) of Samoa, the leading and first successful microfinance institution in the Pacific Islands region. He is also founder of MicroDreams, a microfinance acceleration fund working with emerging microfinance institutions in Africa, Latin America and the Pacific.
Greg also serves as a director on several microfinance industry boards. He serves as a director on the boards of the International Association of Microfinance Investors (of New York), Microfinance Pasifika (of Vanuatu) and Planet Finance (of Paris), and as a fund advisor to Plebys – a for-profit "Base of the Pyramyd" investment fund based in Irvine, California. He also served on the United Nation’s Board of Patrons for its International Year of Microcredit – 2005.
In addition to his microfinance activities, Greg promotes hi-tech entrepreneurship. He is a founding director of the Ice Angels, Australasia’s largest angel investor group. He also serves as Chairman of three New Zealand headquartered software firms: Biomatters, Calcium and English-To-Go. Prior to his involvement in microfinance and angel mentor capital, Greg recorded significant achievement with Ford Motor Company, Mazda Motor Company and Coopers and Lybrand in product development, manufacturing, marketing and financial management positions. He led teams in the U.S., Japan and Europe and was honored to be the youngest-ever Buchou (Division General Manager) of any major Japanese corporation. Greg has an MBA in Finance and Marketing from Kellogg School of Management, a MS in Accounting from NYU Stern School of Business, a BA in Economics with high distinction from Colgate University and is a CPA.
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