BECO Booster Fund II, L.P. (IFC-40098)

Regions
  • Middle East and North Africa
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
U
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
Sep 8, 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
BECO CAPITAL INVESTMENT LLC
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 Amount (USD)
$ 10.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Bank Documents
Primary Source

Original disclosure @ IFC website

Updated in EWS Sep 17, 2017

Disclosed by Bank Aug 7, 2017


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Project Description
BECO Booster Fund II, L.P. (“BECO” or the “Fund”), is a venture capital fund dedicated to investing in early stage technology companies originating primarily in GCC Countries, Egypt, Lebanon and Jordan and opportunistically in the other countries in the Middle East Region. BECO intends to invest in digital businesses that are contributing to the shift from offline to online. The Fund particularly focuses on: i) Marketplaces ii) Tech Infrastructure iii) Software-as-a-Service (SaaS): and iv) Local Content. It also looks at general tech enabled businesses opportunistically.
Investment Description
  • International Finance Corporation (IFC)
Contact Information
BECO Capital Dany Farha CEO & Managing Partner +971 4 368 7811 dany.farha@becocapital.com Dubai, UAEP.O. Box 333357 http://becocapital.com/ 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/