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Incofin

Sneeuwbeslaan 20, Antwerp, Flanders, 2610, Belgium

Overview

Investment management for microfinance in developing countries.

Founded

2009

Deals · 12mo

1

Links

WebsiteLinkedIn

Stage focus

—

Geographic focus

Bolivia
India

Sector focus

Financial Services

Investment portfolio

12rounds
NAMEDATESIZE
Ace International
Nov 2025Participated
$35 MOther Equity
Arthan Finance
Jun 2024Led
$6 MSeries B
Saggraha Management Services
May 2024Led
$10 MOther Equity
SAVE Group
May 2024Led
$13 MOther Equity
Collective Artists Network
May 2024Led
$13 MOther Equity
Banco FIE
Nov 2023Led
$10 MOther Equity
Rite Water Solutions
Oct 2023Led
$8 MOther Equity
Light Microfinance
Aug 2022Participated
$9 MOther Equity
Unnati
Nov 2021Participated
$8 MSeries A
Veritas Finance
Apr 2018Led
$9 MDebt
Faircent
Jan 2018Led
$4 MOther Equity
Sohan Lal Commodity Management
Mar 2017Led
$20 MOther Equity
Ace International
Nov 2025Participated
$35 MOther Equity
Arthan Finance
Jun 2024Led
$6 MSeries B
Saggraha Management Services
May 2024Led
$10 MOther Equity
SAVE Group
May 2024Led
$13 MOther Equity
Collective Artists Network
May 2024Led
$13 MOther Equity
Banco FIE
Nov 2023Led
$10 MOther Equity
Rite Water Solutions
Oct 2023Led
$8 MOther Equity
Light Microfinance
Aug 2022Participated
$9 MOther Equity
Unnati
Nov 2021Participated
$8 MSeries A
Veritas Finance
Apr 2018Led
$9 MDebt
Faircent
Jan 2018Led
$4 MOther Equity
Sohan Lal Commodity Management
Mar 2017Led
$20 MOther Equity
12
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Deal Distribution

Incofin: 12 funding rounds are recorded in the selected participation categories.All available history.
Incofin: 12 funding rounds are recorded in the selected participation categories. All available history
Round typeLed dealsParticipated deals
Series A01
Series B10
Other Equity72
Debt10

Monthly Deal Activity

Incofin: 12 deals are recorded across 116 months.All available history.
Incofin: 12 deals are recorded across 116 months. All available history
MonthDeals
Mar '171
Apr '170
May '170
Jun '170
Jul '170
Aug '170
Sep '170
Oct '170
Nov '170
Dec '170
Jan '181
Feb '180
Mar '180
Apr '181
May '180
Jun '180
Jul '180
Aug '180
Sep '180
Oct '180
Nov '180
Dec '180
Jan '190
Feb '190
Mar '190
Apr '190
May '190
Jun '190
Jul '190
Aug '190
Sep '190
Oct '190
Nov '190
Dec '190
Jan '200
Feb '200
Mar '200
Apr '200
May '200
Jun '200
Jul '200
Aug '200
Sep '200
Oct '200
Nov '200
Dec '200
Jan '210
Feb '210
Mar '210
Apr '210
May '210
Jun '210
Jul '210
Aug '210
Sep '210
Oct '210
Nov '211
Dec '210
Jan '220
Feb '220
Mar '220
Apr '220
May '220
Jun '220
Jul '220
Aug '221
Sep '220
Oct '220
Nov '220
Dec '220
Jan '230
Feb '230
Mar '230
Apr '230
May '230
Jun '230
Jul '230
Aug '230
Sep '230
Oct '231
Nov '231
Dec '230
Jan '240
Feb '240
Mar '240
Apr '240
May '243
Jun '241
Jul '240
Aug '240
Sep '240
Oct '240
Nov '240
Dec '240
Jan '250
Feb '250
Mar '250
Apr '250
May '250
Jun '250
Jul '250
Aug '250
Sep '250
Oct '250
Nov '251
Dec '250
Jan '260
Feb '260
Mar '260
Apr '260
May '260
Jun '260
Jul '260
Aug '260
Sep '260
Oct '260

Sector Breakdown

Incofin: Fintech is the largest displayed sector by deal count (8 deals).All available history.

A deal can appear in multiple sectors, so sector totals may overlap. Capital represents disclosed total round sizes, not fund cheque sizes.

Incofin: Fintech is the largest displayed sector by deal count (8 deals). All available history
SectorDeals
Fintech8
Food & Agriculture2
Networks, Cloud & Communication1
Marketing & Advertising1
Manufacturing1
Media & Entertainment1
Clean Energy & Sustainability1
Space & Frontier Tech1
Transportation & Logistics1
Consumer & Lifestyle1

Deal Size Distribution

Incofin: 12 rounds have a disclosed size in the displayed size bands.All available history.

Undisclosed round sizes are excluded. Capital represents total round sizes, not fund cheque sizes.

Incofin: 12 rounds have a disclosed size in the displayed size bands. All available history
Round size band (USD)Deals
<$5M1
$5M-$10M5
$10M-$25M5
$25M-$50M1
$50M-$100M0
$100M-$250M0
$250M-$500M0
$500M-$1B0
$1B+0

Deals By Geography

Incofin: India has the largest recorded deal count among the displayed regions (10 deals).All available history.

Top 3 of 3 regions; European countries are grouped as Europe.

Incofin: India has the largest recorded deal count among the displayed regions (10 deals). All available history
RegionDeals
India10
Bolivia1
201231
Incofin: 15 co-investors are shown, with Maj Invest sharing 2 recorded deals.All available history.

Co-Investors

Bubble size = shared deals

Click a bubble to open that fund in a new tab.

Shows up to 20 co-investors ranked by shared deals. Deals may be shared with multiple funds, so rows overlap. Capital is total round size, not fund cheque size.

Incofin: 15 co-investors are shown, with Maj Invest sharing 2 recorded deals. All available history
Co-investorShared deals
Maj Invest2
responsAbility Investments2
3one4 Capital1
Aarin Capital1
Abler Nordic1
BlueOrchard1
Fiedlin Ventures1
FMO1
Invest in Visions1
JM Financial1
M&S Partners1
Michael & Susan Dell Foundation1
NABVENTURES1
Orios Venture Partners1
Triple Jump1

Investment Strategy

Incofin: Led accounts for 75% and participating for 25% of round participation.All available history.
Incofin: Led accounts for 75% and participating for 25% of round participation. All available history
CategoryDeals (count)Share (%)
Led975%
Participating325%
Incofin: Single-lead accounts for 33% and co-led for 67% of lead dynamics.All available history.
Incofin: Single-lead accounts for 33% and co-led for 67% of lead dynamics. All available history
CategoryDeals (count)Share (%)
Single-lead333%
Co-led667%

Team

Aditya Bhandari

Partner & Co Regional Director - Asia

Bharat Banka

Independent IC Member

Michaël Blockx

Director Private Equity Operations

Salome Ndunda

Investment Manager