MicroVest Welcomes Jim Torrey to the Board of Directors

Bethesda, MD (PRWEB) June 30, 2006

“MicroVest’s smaller size gives it the flexibility and passion needed to generate both substantial financial returns and world changing social impact. If you look at the numbers, they are really extraordinary – the number of jobs created and people helped. I have always been passionate about finding people with an entrepreneurial spirit and helping them discover their real potential. That’s why I am so pleased to become an active member of the MicroVest Board of Directors.”

• James Torrey

MicroVest is very pleased to welcome James Torrey, Founder of The Torrey Funds, to the MicroVest Board of Directors. Mr. Torrey has been a leader in hedge fund investing in both U.S. and non-U.S. markets for more than 15 years. His firm has some of the most successful and longest running records in the industry.

Mr. Torrey founded The Torrey Funds in 1990 as a fund of funds group investing with hedge fund managers worldwide; and today the company manages more that $1 billion for wealthy individuals, endowments, and foundations both domestically and internationally. Prior to starting his fund, Mr. Torrey garnered a wealth of financial experience through executive positions with Kidder, Peabody and Co., The First Boston Corporation, PaineWeber incorporated, and Alex Brown & Sons. He attended the University of California at Berkeley.

“James has already demonstrated his enthusiasm for microfinance and MicroVest as a member of MicroVest’s independent Investment Committee. We are delighted to have his expanded involvement as he joins our Board,” said Gil Crawford, General Manager of MicroVest.

In addition to his business pursuits, Mr. Torrey is active in civic and community affairs, including as a member of the Democratic Senatorial Campaign Committee and a member of the Board of the Milano Graduate School for Public Policy at the New School University.

About MicroVest:

MicroVest (Bethesda, MD) is a $20 million investment firm providing debt and equity capital and management oversight to microfinance institutions (MFIs) in emerging markets. It is the first private equity microfinance investment firm in the United States. MicroVest’s goal is to expand the capacity of existing, profitable MFIs throughout the world while building capital markets that work for the poor. MicroVest was founded by CARE, MEDA and the Seed Capital Development Fund - three non-profit organizations with longstanding credibility in the microfinance industry.

About the MicroVest Board of Directors:

Torrey is one of twelve members of the MicroVest Capital General Partners Board of Directors. Other members include: W. Bowman Cutter, Managing Director - Warburg Pincus; Dana Halberg, Managing Director – Mellon Financial Corporation; Lauren Hendricks, Director - Economic Development Unit, CARE-USA; Joe Iarocci, Senior Vice President of Finance - CARE-USA, Joe Landy, Co-President - Warburg Pincus; Bob Pattillo, Founder - Gray Ghost Microfinance Portfolio; Gerhard Pries, CFO - MEDA Canada; Julie Redfern, Director of Microfinance - MEDA; R. Clair Sauder, Trustee - MMA Praxis; Bruce C. Tully, Managing Committee Member - Beehive Ventures, LLC; and Fred Wall, Director - Sarona GIF.