Bamboo Capital, a VC impact investor, has exited its investment in Banco W based in Colombia, according to a note from the firm.
Banco W S.A. is a regulated entity authorized by the Financial Superintendency of Colombia, created in 2011. Banco W aims to promote financial inclusion by providing financial services, including microfinance supporting SMEs.
In 2019, the Ministry of Labor and the United Nations Development Program awarded Banco W the Equipares Silver Seal. Banco W was then recognized among the 20 best places to work within the category of more than 500 employees by Great Place To Work.
According to Bamboo Capital, on 29 November 2022, Fundación WWB Colombia, DWM Panama, S.A., WWB ISIS Fund, and Bamboo Financial Inclusion Panamá S.A reached an agreement by which Fundación WWB Colombia will acquire from DWM Panama, WWB ISIS Fund and Bamboo Financial Inclusion Panama, a stake of approximately 14 percent of the subscribed and outstanding shares of Banco W. Fundación WWB Colombia is currently a shareholder of Banco W, with a shareholding of 85.73 percent.
Fundación WWB Colombia aims to boost access to credit for the social and economically disadvantaged sectors with Banco W.
The terms of the deal were not disclosed.
To date, Bamboo Capital has raised over USD $450 million and invested in 80 companies worldwide.
