Gray Ghost Microfinance Fund
GGMF was launched in 2003 as a fund of funds and, at the time, was the largest private investor in microfinance. Gray Ghost invested $100 million in 23 microfinance investment vehicles between 2003 and 2008, many of which it created or helped launch including Microvest I, Bellwether, Catalyst, Antares and LocFund. Grassroots spun out of Gray Ghost in 2007 to facilitate fund-raising from new investors for new funds.
