Riverwood Latin America Fund (IIC-12273-01)

Regions
  • Latin America and Caribbean
Geographic location where the impacts of the investment may be experienced.
Countries
  • Argentina
  • Brazil
  • Chile
  • Colombia
  • Mexico
  • Peru
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • IDB Invest (IDBI)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
FI
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Jul 31, 2018
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
Riverwood Capital Partners Latam L.P.
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
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, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 10.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Project Cost (USD)
$ 10.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Primary Source

Original disclosure @ IIC website

Updated in EWS Sep 20, 2018

Disclosed by Bank Jun 27, 2018

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Contact the EWS Team

Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to the IIC website, this project will consist of an Equity Investment for up to US$10 million as a limited partner in Riverwood Capital Partners Latam L.P. Riverwood Capital LLC is a private equity fund targeting investments in businesses in the global technology, technology-enabled and related industries, including businesses in the financial services, consumer and services sectors where the use of information, digital, software and similar technologies can contribute to value creation. The investments are expected to consist primarily (but not exclusively) of investments in growth, expansion or later stage businesses.

Early Warning System Project Analysis
For a project with severe or irreversible impacts to local community and natural resources, the Early Warning System Team may conduct a thorough analysis regarding its potential impacts to human and environmental rights.

The Bank has classified this project as FI-2, which corresponds to a medium risk or B rating. It states that the majority of investments through this fund will be classified as Category C, with some possibility for Category B investments. Category A sub-projects will be excluded from the Fund’s financing.

Riverwood will be required to evaluate, manage and monitor environmental and social risks across the Fund through the application of an Environmental and Social Management System (ESMS), which will include application of the exclusion list, local law, and IFC Performance Standards where applicable. The ESMS will also include an overarching policy, categorization guide, criteria and sector checklists (with focus on likely impacts), and a definition of roles and responsibilities.  The Fund will be required to appoint an Environmental Manager who will oversee all issues related to E&S evaluation, management, monitoring and reporting

Investment Description
Here you can find a list of individual development financial institutions that finance the project.
Financial Intermediary
A financial intermediary is a bank or financial institution that receives funds from a development bank. A financial intermediary then lends these funds to their clients (private actors) in the form of loans, bonds, guarantees and equity shares. Financial intermediaries include insurance, pension and equity funds. The direct financial relationship is between the development bank and the financial intermediary.
Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

Riverwood Capital LLC is a private equity firm specializing in divisional carve outs, expansion and growth equity financing, industry roll ups, recapitalizations, and buyout transactions. The firm invests in middle market private companies.


Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

Project Contact: Lisa Wong
Riverwood Capital
Phone Number: 650-618-730016
Email Address: lisainfo@rwcm.com

ACCOUNTABILITY MECHANISM OF IIC

The Independent Consultation and Investigation Mechanism (MICI) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an Inter-American Development Bank (IDB) or Inter-American Investment Corporation (IIC)-funded project. If you submit a complaint to MICI, they may assist you in addressing the problems you raised through a dispute-resolution process with those implementing the project and/or through an investigation to assess whether the IDB or IIC is following its own policies for preventing or mitigating harm to people or the environment. You can submit a complaint by sending an email to MICI@iadb.org. You can learn more about the MICI and how to file a complaint at http://www.iadb.org/en/mici/mici,1752.html (in English) or http://www.iadb.org/es/mici/mici,1752.html (Spanish).

How it works

How it works