Kaszek Ventures Fund III (IFC-39598)

Regions
  • Latin America and Caribbean
Geographic location 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
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
U
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."
Borrower
KASZEK VENTURES III LP
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
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, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 15.00 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 @ IFC website

Updated in EWS Apr 26, 2017

Disclosed by Bank Apr 17, 2017

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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.
The proposed project consists of an equity investment of up to US$15 million in Kaszek Ventures Fund III ("KV-III" or "the Fund"), a venture capital fund managed by Kaszek Ventures which focuses on investing in early-stage technology companies in Latin America.
People Affected By This Project
People Affected By This Project refers to the communities of people likely to be affected positively or negatively by a project.
(1) Global Expansion of Local Businesses: The Funds affiliated with Kaszek have invested in over 40 early stage companies in Latin America since 2011. These Funds have supported, mentored and grew many of their portfolio companies to become regional and global brands. In the current fund, IFC will be supporting early stage Latin American companies to grow and gain access to international capital markets. (2) Job Creation and Economic Growth: Based on IFC's experience, venture capital funds such as the KV-III will contribute meaningfully to job creation and economic growth. (3) Access to Capital: tech-enabled, asset light industry in LatAm is still nascent in the region and therefore, IFC's commitment to this asset class in the region will help support the necessary capital provision to support and grow such businesses.
Investment Description
Here you can find a list of individual development financial institutions that finance the project.
Kaszek Ventures ("Kaszek" or "the Fund") is a venture capital fund which focuses on investing in early-stage technology companies in Latin America. Kaszek is currently raising its 3rd fund ("KV-III"), and IFC would be investing in KV-III alongside established institutional investors.

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.
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/

How it works

How it works