Accion FI Fund (IFC-36362)

Regions
  • Africa
  • East Asia and Pacific
  • Latin America and Caribbean
Where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Active
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
Oct 26, 2015
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
Accion Frontier Inclusion Fund L.P.
The holder of the loan, grant, or other investment.
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Equity
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 15.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Jul 31, 2018

Disclosed by Bank Sep 21, 2015


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Project Description

This project finances an equity commitment in Accion Frontier Inclusion Fund LP to expand the financial inclusion of the under and unbanked population in Africa, Asia and Latin America.

Investment Description
  • International Finance Corporation (IFC)

Accion Frontier Inclusion Fund LP (Accion) is a private equity fund that seeks to make equity or equity-equivalent investments in early- and growth-stage companies that develop or provide products, services, or technology. It will be managed by Quona Capital Management Ltd., an exempted company with limited liability organized under the laws of the Cayman Islands. Accion's investment manager will be 100% owned by the four principals/investment directors who have worked together at Accion International. The investment manager’s principals are primarily based in Washington, D.C. and Bangalore, India, and spend significant time in the regions on which Accion is focused. Accion's general partner, Accion Frontier Inclusion Fund GP, LLC is 100% owned by Accion International, a Delaware, US based LLC. Accion's general partner will primarily operate out of Washington, D.C., USA.

Private Actors

Accion Frontier Inclusion Fund LP is a private equity fund that seeks to make equity or equity-equivalent investments in early- and growth-stage companies that develop or provide products, services or technology to expand the financial inclusion of the under and unbanked population in Africa, Asia and Latin America.

Contact Information

Monica Brand
1101 15th Street NW, Suite 400
Washington, DC USA 20005
Tel: +1 202.393.5113 x1621
mailto:Mbrand@accion.org

Jonathan Whittle
1105 15th Street NW, Suite 400
Washington, DC USA 2005
Tel: + 1202.393.5113 x1635
mailto:jwhittle@accion.org

ACCOUNTABILITY MECHANISM OF IFC
The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/