As stated on the project disclosure, IFC proposes an equity investment of up to U$30 million, not exceeding 20% of the total commitment, and an additional co-investment envelope of up to US$30 million under the delegated authority framework, in South Asia Growth Fund III, L.P., a mid-market private equity fund focused on providing growth capital to companies across climate solution themes in India and opportunistically in Southeast Asia, and together with South Asia Growth Fund III, SCSp is targeting US$300 million to US$400 million in total commitments. Consistent with its prior funds, Fund III will target mid-market companies in the climate solutions supply chain focused on (i) renewable energy value chain; (ii) energy efficient enhancement; (iii) food security solutions; (iv) resource / waste recovery solutions; (v) water security solutions; (vi) mobility solutions; (vii) smart cities and green building solutions; (viii) tech / digital solutions; and (ix) low carbon transition solutions. The Fund is expected to size its average ticket per company in the range of US$20-US$40 million in 9-12 companies.
The IFC categorized the project as FI-2.
As stated by the IFC, South Asia Growth III Partners, L.P., a limited partnership organized under the laws of the Province of Ontario, Canada, is the General Partner of the Fund. The Fund will be managed by GEF Capital Partner LLC, a Delaware limited liability company. The Fund will engage GEF Capital to carry out certain investment management and administrative duties. GEF Capital was founded in 2018 and is led by Raj Pai, Sridhar Narayan and four other partners.
General IFC Inquiries - IFC Communications:
Address: 2121 Pennsylvania Avenue, NW, Washington DC 20433
Telephone: +1 202-473-3800
Fax: +1 202-974-4384
Financial Intermediary - GEF Capital Partners LLC:
Raj Pai - Managing Partner
Address: Unit 913, C Wing, ONE BKC, Plot No C-66, G Block, Bandra Kurla Complex, Bandra East, Mumbai, Maharashtra 400051, India
Phone: +91 22 68758604
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