DAI has acquired microfinance specialist company MicroVest in a move aimed at strengthening DAI Capital, the global development organization’s growing finance arm.
MicroVest is a B Corporation that raises capital from private institutions and allocates it to financial institutions working with “underbanked” enterprises in emerging markets. It currently has $250 million under management and a staff of 20 people.
Based in Maryland, DAI is an employee-owned organization with around 5,000 staffers working across five continents. It set up DAI Capital in 2019 to improve the amount of private capital flowing into development.