NXTP Opportunity (IFC-38626)

Regions
  • 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
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 16, 2017
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
NXTP OPPORTUNITY 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)
$ 8.00 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 May 18, 2017

Disclosed by Bank May 16, 2017


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Project Description
The proposed project involves an equity investment in NXTP Fund 2, L.P. (“NXTP 2”), a $120 million early stage venture capital fund that will make venture investments in high growth technology companies across Latin America.
Investment Description
  • International Finance Corporation (IFC)
The fund is sponsored by Nibeluz S.A., a leading accelerator and early stage venture capital fund manager based in Buenos Aires, Argentina and with satellite offices in Uruguay, Brazil, Chile, Peru, Colombia, Mexico, and the U.S. NXTP was founded in 2011 by Ariel Arrieta, Gonzalo Costa, Marta Cruz, and Francisco Coronel. NXTP Fund 2, L.P. will be a Cayman Islands limited partnership that will also primarily operate out of Buenos Aires, Argentina. The general partner, NXTP Fund 2 will be a Cayman Islands exempted limited partnership. NXTP 2 will have its own separate fund management company, NXTP Fund 2, Ltd., a Cayman Islands exempted company. The total proposed IFC equity investment is up to $8 million, not to exceed 20% of total capital commitments, as an LP in NXTP 2.
Contact Information
NXTP Francisco Coronel francisco.coronel@nxtplabs.com Malabia 1720 piso 1, Ciudad Autonoma de Buenos Aires, Buenos Aires 1425 Argentina 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/