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TPG’s Rise Fund leads $140 million round of China’s CFPA Microfinance

ImpactAlpha, November 6 – TPG’s $2 billion Rise Fund impact fund led the Series C funding round of China Foundation for Poverty Alleviation (CFPA) Microfinance Management, Axios reports

Prior investors Ant Financial, International Financial Corp. and High Impact Capital Advisors also joined the round.

CFPA Microfinance is a Chinese microfinance institution that was jointly launched by the World Bank and 19-year-old poverty alleviation organization China Foundation for Poverty Alleviation. CFPA Microfinance provides loans to mostly rural and mostly female micro-business owners. 

Current data on CFPA Microfinance’s lending activity and reach could not be immediately obtained. At the time of a 2016 funding round, the organization had a presence in 229 counties and 18 provinces in China, with 85% of its branches based in low-income areas. More than 60% of its borrowers were farmers and livestock breeders. 

The Rise Fund’s investment in CFPA comes six months after its first investment in China. In May, it committed $1 billion to lending company Baidu.

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