Genesis Fund II (IFC-41372)

Countries
  • China
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
Jun 29, 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
GENESIS CAPITAL II, L.P.
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.
Project Cost (USD)
$ 600.00 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 Mar 27, 2019

Disclosed by Bank May 30, 2018


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Project Description

Genesis Capital II, LP (“Fund II” or the “Fund”) is a China-focused growth stage technology private equity fund. The Fund will invest in companies utilizing information technology to improve the overall efficiency of various industries, including:

(a) E-Commerce,

(b) Business-to-Business Platforms and Enterprise Services,

(c) Education,

(d) Healthcare, and

(e) Logistics.

The Fund will invest primarily in businesses in China.

People Affected By This Project

a. Through its investments, the Fund will help support the transition of the Chinese economy from a manufacturing to an increasingly innovation and technology driven one. The Fund will support the use of advanced information technology to improve efficiencies of the traditional industries such as retail, enterprise services, logistics/transportation, healthcare, and education.
b. Knowledge transfer and sharing of best practices: The Fund is expected to provide strong and comprehensive support through its board positions on portfolio companies to develop and improve their environmental and social practices and level of corporate governance.

Investment Description
  • International Finance Corporation (IFC)

The General Partner of the Fund is Genesis Capital II Ltd. The Fund is headed by Mr. Richard Peng and Mr. Kurt Xu.  

Fund II is targeting to raise US$600 million. IFC, together with its Asset Management Company, is considering an equity investment in Fund II, not to exceed 20% of the total commitments.     

 

Private Actors
  • Genesis Capital II, LP -- Financial Intermediary

The General Partner of the Genesis Capital II, LP is Genesis Capital II Ltd. The Fund is headed by Mr. Richard Peng and Mr. Kurt Xu.

Contact Information

1/ The Project Contact

Genesis Capital 
Ryan Szeto 
CFO 
+86 (10) 8440 0800 
enquiries@gcfunds.com 
16/E2, Tower A, Gateway Plaza, 18 Xiaguangli, East Third Ring North Road, Chaoyang District, Beijing, China 
http://www.gcfunds.com 

2/ The IFC Contact

General IFC Inquiries
IFC Communications
2121 Pennsylvania Avenue, NW
Washington DC 20433
Telephone: 202-473-3800
Fax: 202-974-4384

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/