This project is an equity investment of up to US$5 million in Angel Ventures Pacific Alliance Fund II, an Ontario-domiciled venture capital fund which focuses on investing in early-stage technology companies in Mexico and the Pacific Alliance region.
The International Finance Corporation says that the project will have the following development impacts:
The International Finance Corporation has rated this project FI-3 in the environmental and social category. This rating corresponds to a C rating or low risk.
International Finance Corporation proposed investment in this project is $5 million, not to exceed 20% of the aggregate commitments.
On top of its equity investment, IFC is expected to provide resources by way of IFC's sector experience and extensive portfolio in financial services, education, healthcare, internet and technology, which would be relevant for portfolio companies of the Fund.
Angel Ventures Pacific Alliance Fund II is an Ontario-domiciled venture capital fund focused on investing in early-stage technology companies in Mexico and the Pacific Alliance region.
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/