Private debt fund research profile
MIFA Debt Fund is a pan-Asian private-debt vehicle supporting microfinance and inclusive-finance institutions. BlueOrchard’s investor update identifies Veritas Finance and Aye Finance among the fund’s India positions, and current Aviom filings confirm MIFA as a creditor; broader BlueOrchard holdings are excluded.
At a glance
Research profile
Open a section to inspect the evidence. The first view starts with the investment point of view; the rest stays quiet until you need it.
Investment lens
Microfinance Initiative for Asia (MIFA) Debt Fund uses a private debt; inclusive-finance and mfi lending approach across Microfinance, affordable housing, SME finance, women’s financial inclusion.
Current evidence
A January 2026 Aviom creditor list names Microfinance Initiative for Asia (MIFA) Debt Fund SA, SICAV-SIF in current admitted claims. The latest reviewed MIFA investor update names Veritas Finance and Aye Finance as India positions, and IFC continues to identify the exact vehicle and mandate.
Strategy
Private debt; inclusive-finance and MFI lending
Sector focus
Microfinance, affordable housing, SME finance, women’s financial inclusion
AIF structure context
Indian private credit, venture-debt and special-situations funds are commonly structured as Category II AIFs. Verify the specific vehicle and registration before investing.
Current signal
A January 2026 Aviom creditor list names Microfinance Initiative for Asia (MIFA) Debt Fund SA, SICAV-SIF in current admitted claims. The latest reviewed MIFA investor update names Veritas Finance and Aye Finance as India positions, and IFC continues to identify the exact vehicle and mandate.
Investor questions
Microfinance Initiative for Asia (MIFA) Debt Fund is covered in Rupeia's private credit research universe. The current public record describes the strategy as Private debt; inclusive-finance and MFI lending, with a sector focus of Microfinance, affordable housing, SME finance, women’s financial inclusion. The profile should be read with the linked source trail and Typical route: Category II AIF context.
The profile displays only company or asset names attributable to Microfinance Initiative for Asia (MIFA) Debt Fund in the reviewed public sources: Veritas Finance; Aye Finance; Aviom India Housing Finance. It does not represent a complete current portfolio unless the manager has published one.
BlueOrchard’s MIFA investor update names Veritas Finance and Aye Finance among the fund’s largest outstanding positions as of December 2020. Aviom’s 2025–2026 creditor filings provide a current India vehicle link. Fund-level audited IRR, DPI and TVPI are not publicly disclosed. These signals are not a substitute for fund- and vintage-specific net performance, realised distributions and audited or administrator-supported reporting.
Public fund size: IFC’s project page describes a target size of US$100 million; final close and current NAV are not publicly disclosed.. Public terms or access information: Luxembourg SICAV-SIF private-debt vehicle managed by BlueOrchard and focused on loans to microfinance institutions in Asia. Current fees, term, liquidity, carry and minimum commitment are not publicly disclosed in the reviewed materials.. Current fees, minimum commitment and availability must be confirmed for the exact named vehicle in its fund documents.
The current source record names Normunds Mizis (Chief Credit Officer); Michael Wehrle (Chief Executive Officer); Sébastien Juhen (Head of Private Debt Portfolio Management); Maria Teresa Zappia (Deputy CEO). Verify current roles, departures, attribution and key-person provisions before relying on the team history for a new commitment.
Review borrower concentration, security and seniority, cash versus accrued income, defaults, recoveries, fund leverage and liquidity. The current open diligence point is: MIFA is a pan-Asian vehicle and its latest publicly accessible named portfolio update is older than the current Aviom creditor evidence. Complete current India exposures, audited net returns and vehicle-level terms are not publicly disclosed; only Veritas, Aye Finance and Aviom are retained as attributable India names..
2026-01-08: A January 2026 Aviom creditor list names Microfinance Initiative for Asia (MIFA) Debt Fund SA, SICAV-SIF in current admitted claims. The latest reviewed MIFA investor update names Veritas Finance and Aye Finance as India positions, and IFC continues to identify the exact vehicle and mandate.
Next step
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