Microfinance Focus July 14, 2011: Sarona Asset Management recently announced that its Sarona Frontier Markets Fund I LP has committed €1,250,000 to Pera Capital Partners Fund I LP, a private equity fund manager that invests in Turkish small and medium sized companies.

With its commitment in Pera Capital, Sarona aims to assist and grow businesses focused on sectors such as agribusiness, education, environmental technology, healthcare, food products and consumer goods.

In turn, the Turkish businesses, much like the rest of the small and medium sized companies in which Sarona has invested, will lead the charge in serving the needs of the growing lower middle class.

Sarona Frontier Markets Fund I LP had earlier committed US$3,500,000 to two private equity funds including US$2,000,000 to the South Asia Clean Energy Fund and US$1,500,000 to the Fanisi Venture Capital Fund. Through the commitments, Sarona offered its support to small and medium enterprises (SMEs) in particular within India and East Africa.

Sarona Asset Management is based in Waterloo, ON, and is a co-founder and/or manager of impact investment funds, including the Sarona and MicroVest groups of funds. Together, these funds have over $180 million in assets under management in emerging and developing country markets around the world.