New York-based private equity major Warburg Pincus said it was in talks to acquire a significant minority stake in Indian financial services company Fusion Microfinance in a deal estimated at $80-100 million.
If the deal materializes, it would be Warburg’s second investment in Indian financial services space in 2018, after its acquisition of 26 percent stake in IndiaFirst Life Insurance in June.
Fusion Microfinance has a strong presence in the north and central India through a network of 358 branches.
It raised $23 million in equity in 2016 from financial services companies Creation Investments, GAWA as well as The Netherlands’ Oikocredit.