Original disclosure @ IFC website
Updated in EWS May 7, 2020
Disclosed by Bank Oct 16, 2019
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According to the bank document, Provident Growth Fund II, LP (“the Fund”) is targeted for an US$200 million fund focused primarily on growth-stage technology investments in Southeast Asia with a focus on Indonesia.
The Fund intends to take minority stakes in companies across various sectors including e-commerce, new retail, fin-tech, artificial intelligence & big data, edu-tech and platform plays.
The average ticket size of the Fund’s investments is between US$10-20M.
The target size of the Fund is $200 million. IFC’s proposed investment in the Fund is an equity investment of up to US$30 million, not to exceed 20% of total Fund commitments.
The General Partner of the Fund is Provident Growth Fund II GP Ltd. The Fund will be managed by three Partners, namely Winato Kartono, Michael Aw and Hari Gurung. The Sponsor of the Fund is Procap Partners Ltd which is owned by Winato Kartono, Hardi Wijaya Liong and Gavin Arnold Caudle.
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1/ The Project Contact
Provident Growth Fund II, LP
Contact: Michael Aw
Phone number: +852 2467 0338
Address: 89 Nexus Way, Camana Bay, Grand Cayman, KY1-9009, Cayman Islands
2/ IFC Contact:
General IFC Inquiries
2121 Pennsylvania Avenue, NW
Washington DC 20433
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