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

Countries
  • Mexico
  • United States of America
Where the impacts of the investment may be experienced.
Financial Institutions
  • IDB Invest
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Bank Risk Rating
FI
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Jun 18, 2019
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
Alta Growth Capital S.C.
The holder of the loan, grant, or other investment.
Investment Type(s)
Equity
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 10.80 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. 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, converted to USD$. 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, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ IDBI website

Updated in EWS May 9, 2019


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Project 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
  • IDB Invest
Private Actors
  • Alta Growth Capital, Mexico Fund III, L.P. -- Unknown
Contact Information

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.