Alta Growth Capital, Mexico Fund III, L.P. (IDBI-12614-01)

Countries
  • Mexico
  • United States of America
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • IDB Invest (IDBI)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
FI
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Jun 18, 2019
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
Alta Growth Capital S.C.
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Investment Type(s)
Equity
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 10.80 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Loan Amount (USD)
$ 10.80 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Project Cost (USD)
$ 10.80 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Primary Source

Original disclosure @ IDBI website

Updated in EWS May 9, 2019


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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

IDB Invest is considering an equity investment of up to US$10.8 million in Alta Growth Capital Fund III, L.P. ("Alta Growth Capital" or the "Fund") in Mexico. IDB Invest's participation will allow the Fund to achieve the scalability necessary to effectively execute its investment strategy and achieve its target size of US$250 million. IDB Invest's participation will increase the availability of private capital for medium-sized enterprises in Mexico, which will help to increase the country's competitiveness and economic growth. The Fund will invest up to 20% of its commitment in other Latin American countries. The Fund will mainly acquire minority stakes with defined exit strategies. The Fund Manager is Alta Growth Capital S.C., a local investment management company with broad experience and a successful track record in private capital investment in Mexico. The Fund's investors include the Deutsche Investitions- und Entwicklungsgesellschaft ("DEG", German development bank), the International Finance Corporation ("IFC"), and Fondo de Fondos.

According to bloomberg: Alta Growth Capital SC operates as a private equity firm. The Company invests in middle market companies including industries such as consumer goods, financial services, housing, healthcare, education, entertainment, and selective manufacturing and industrial sectors. Alta Growth Capital serves clients in the United States.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.
Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Alta Growth Capital, Mexico Fund III, L.P. Undisclosed -

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

Name of client contact: Scott McDonough
Position: Environmental and Social Officer
Telephone: +52 (55) 5254-3280
E-mail: scottm@agcmexico.com

For queries regarding projects, including environmental and social questions related to an IDB Invest transaction, please contact the client (see Investment Summary), or IDB Invest via e-mail at divulgacionpublica@iadb.orgAs a last resort, affected communities have access to the IDB Invest Independent Consultation and Investigation Mechanism via e-mail at mecanismo@iadb.org or MICI@iadb.org, or by telephone at +1(202) 623-3952.

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