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$9m Purchase by Sequoia Gives Kalpathi Rich Exit from India’s Equitas

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$9m Purchase by Sequoia Gives Kalpathi Rich Exit from India’s Equitas

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February 2. 2010

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Kalpathi Investments, the investment company of entrepreneur Kalpathi Suresh, recently
sold its 10 percent stake in Equitas, an Indian microfinance institution, for the local-currency
equivalent of USD 9.4 million after having purchased the stake two years earlier for USD
754,000. US-based venture capital firm Sequoia Capital acquired the stake in Equitas, which
reports total assets of USD 61 million, a gross loan portfolio of USD 43 million, 339,158
active borrowers, return on assets of 1.52 percent and return on equity of 4.02 percent.
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