Apis Growth Fund II (IFC-41264)

Regions
  • World
Where the impacts of the investment may be experienced.
Countries
  • India
  • Indonesia
  • Ivory Coast
  • Kenya
  • Morocco
  • Nigeria
  • Pakistan
  • Philippines
  • South 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
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
Jul 31, 2018
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
APIS PARTNERS LLP
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)
$ 25.00 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 Jan 17, 2019

Disclosed by Bank Jun 1, 2018


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Project Description

This project is for a proposed IFC equity commitment of up to US$25 million to Apis Growth Fund II, LP, targeting US$400 million in commitments from investors.

The Fund’s investment objective is to make mid-market growth equity investments into financial services and technology such as payments, credit and savings, insurance, technology enablers and service providers and capital markets located in Africa and Asia. The primary focus countries of the Fund will include Cote d'Ivoire, Kenya, Morocco, Nigeria, South Africa, India, Indonesia, Pakistan and the Philippines. The Fund will focus on funding growth-stage companies that require growth equity to expand their geographies, product ranges or to fund vertical integration. 

Investment Description
  • International Finance Corporation (IFC)
Private Actors

The Fund will be managed by Apis Partners, LLP, a specialist technology-enabled financial services-focused private equity fund manager targeting opportunities across the growth markets of Africa and Asia (ex-China). Apis supports financial services companies in its target regions with catalytic growth capital and expertise.     

Contact Information

Project Contact: Gustavo Eiben 
Partner (and Head of Stakeholder Engagement), APIS Partners LLP 
Telephone No.: +1 203 489 3831 
Email Address: gustavo.eiben@apis.pe 
Website: www.apis.pe 

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/