Calmeadow

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Paul DiLeo , Founder and Managing Partner, Grassroots Capital Management Paul has over two decades of experience in development finance and 10 years’ experience in the microfinance sector, he has cultivated a wealth of knowledge in the industry and is respected as a thought leader in the microfinance investment community. Paul launched and managed the Gray Ghost Microfinance Fund which was the first private, for-profit microfinance fund established to demonstrate the viability of microfinance investment.

Calmeadow played an important role in the development and sponsorship of ProFund Internacional (ProFund), which was incorporated in 1995 as a for-profit investment fund. The fund, managed by Omtrix, Inc. , from its headquarters in San Jose, Costa Rica, sought an appropriate return on investment for its shareholders while promoting the growth of regulated and efficient financial intermediaries whose main target market was the small and micro enterprises of Latin America and the Caribbean.

ProFund . Soon after, Calmeadow along with a few long-time collaborators pursued its vision and lead the development of two commercial equity funds, ProFund and Africap, one in Latin America and one in Africa.

Despite the great potential that existed in providing financial services to small and micro entrepreneurs, there remained a notable lack of financial institutions supporting this sector. The estimated 2,000,000 microenterprises being served by specialized MFIs in the region was a significant number but represented only 4% of the overall market. ProFund attempted to address this challenge by using its knowledge of the region and the industry to invest in regulated financial intermediaries interested in satisfying the latent need for microfinance.

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