According to the bank document, the proposed investment in Everbridge I will provide capital to about ten middle-market companies operating primarily in the health care, business services, and consumer sectors, in India, the People's Republic of China (PRC), and Southeast Asia (Indonesia, Malaysia, the Philippines, and Thailand).
These companies often lack access to affordable capital because equity financing is generally limited and traditional bank financing is difficult to source without hard assets that can be pledged as collateral. Furthermore, many companies in emerging Asia need improved professional management to scale up their operations. The proposed investment by the Asian Development Bank (ADB) in Everbridge I would help deepen capital markets and support Asia's growing private sector.
Ordinary capital resources (ADB) US$ 40.00 million Approved
An equity investment of up to $40 million in Everbridge Partners Fund I, L.P. (_Everbridge I_, _Fund I_), a targeted $750 million private equity fund focused on investing in growth-stage opportunities in mid-market companies operating in the healthcare, business services, and consumer sectors primarily in People's Republic of China (PRC), India and Southeast Asia.
Responsible ADB Officer Conti, Davide
*There is no further information being disclosed at this stage of the project*
ACCOUNTABILITY MECHANISM OF ADB
The Accountability Mechanism is an independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an Asian Development Bank-financed project. If you submit a complaint to the Accountability Mechanism, they may investigate to assess whether the Asian Development Bank is following its own policies and procedures for preventing harm to people or the environment. You can learn more about the Accountability Mechanism and how to file a complaint at: http://www.adb.org/site/accountability-mechanism/main