The private equity fund Maj Invest Financial Inclusion Fund II has completed its fifth investment by acquiring shares in Belstar Investment and Finance Private Limited (Belstar), an Indian financial institution founded in 1988. Today, it is one of the largest financial institutions in the country with operations in southern states and a business based on the self-help group lending model offering loans to groups of 10-20 economically active people with similar social and financial backgrounds in the community. Belstar is headquartered in Chennai, Tamil Nadu and operates institutions across eight states in southern India. The institution has a loan portfolio of 165m USD and serves around 450,000 clients of which 99 per cent are female.