Global private equity firm TPG has led a US$210 million financing round for India-based microfinance institution Janalakshmi Financial Services. Asia-Pacific-focused private equity investor Morgan Stanley Private Equity Asia, India-based electrical equipment company Havells India and individual investor Vallabh Bhansali also participated in the round. The investment consisted of US$150 million in primary equity financing and US$60 million in secondary transactions, providing partial exits to existing shareholders. Janalakshmi plans to use the new capital to expand its line of products and services and to reach more customers.