Highland PE Mezz (IFC-39831)

  • Kyrgyzstan
Where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
  • Multilateral Investment Guarantee Agency (MIGA)
  • World Bank (WB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Bank Risk Rating
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.
The holder of the loan, grant, or other investment.
  • Agriculture and Forestry
  • Communications
  • Education and Health
  • Finance
  • Industry and Trade
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 5.00 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)
$ 30.00 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 @ IFC website

Updated in EWS Aug 6, 2018

Disclosed by Bank Jan 26, 2018

Contribute Information
Can you contribute information about this project?
Contact the EWS Team

Project Description

This project is an equity investment in the Highland Private Equity and Mezzanine Fund L.P., an institutional investment fund in Kyrgyz Republic, and will be supported by the World Bank Group's Blended Finance Facility. The Fund will then invest in 10 - 15 local small and medium-sized enterprises (SMEs) operating in the consumer, agro-processing, healthcare, education, and telecommunications sectors. 

Investment Description

Through the Blended Finance Facility, the World Bank Group is co-investing up to US $5 million.

Financial Intermediary
Financial Intermediary: A commercial bank or financial institution that receives funds from a development bank. A financial intermediary then lends these funds to their clients (private actors) in the form of loans, bonds, guarantees and equity shares. Financial intermediaries include insurance, pension and equity funds. The direct financial relationship is between the development bank and the financial intermediary.
Private Actors Description

Highland Private Equity and Mezzanine Fund L.P. (the “Fund”), one of the first institutional investment funds in the Kyrgyz Republic seeking to raise US$30 million to provide risk capital to 10-15 local Small and Medium Enterprises (SME) in the form of equity and quasi-equity financing in the Kyrgyz Republic. The Fund is a generalist with a focus on the consumer sector, agro-processing, healthcare, education and telecommunications.

Highland Capital LLC, the fund manager, is a Bishkek based investment management firm established in 2014.  

Contact Information

Highland Capital 
Mr. Cholponbek Jumashukurov 
Managing Partner 
+ 996 312 961 935 
110 Toktogul Street, 3rd floor, Bishkek, Kyrgyz Republic 

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/