Original disclosure @ IFC website
Updated in EWS Jun 13, 2022
Disclosed by Bank Nov 30, 2021
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The proposed project is an up to $30 million investment into a vehicle managed by Partners for Growth (“PFG”), an experienced specialty lending fund manager focused on emerging companies and long-time partner with Silicon Valley Bank (“SVB”). The investment is contemplated to have a global Emerging Market mandate to invest in loans with a heavy emphasis on early to mid-stage health, life sciences, and technology companies, including a potential significant allocation to Fintech companies. The project is anticipated to spur economic growth and job creation through the provision of quality credit to borrowers in key segments requiring digitization such as access to health and financial services, logistics, and commerce.
Stakeholder effects - Increasing investee growth: The Project is expected to help PFG in its bid to further close the financing gap that exists, especially in mid-sized, early-stage companies in Emerging Markets in a range of sectors that PFG has experience investing in: Technology, Fintech, Life Sciences, Energy/Cleantech, and Consumer/Commerce. The Project is intended to provide growth capital to high growth companies in geographies of interest, thereby increasing their growth (revenue) and filling the shortfall created by risk averse banks or dilutive equity providers.
Contribution to Market Creation - Integration: IFC anticipates that the Project will connect early-stage companies in emerging economies with international and domestic finance providers by demonstrating the viability of scaling a venture debt model, that is well-established for this segment in high income countries, in emerging markets.
Partners for Growth (“PFG”) Fund
Managing Director, Head of Business Development and Investor Relations
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