Skip to main content

Company name

GK VENTURES, LP

Project number

14651-01

FI-2 operations are those where the risk potential is considered medium: the FI’s current or future portfolio consists of or is expected to consist of, business activities that have potential limited adverse environmental or social risks or impacts that are few in number, generally site-specific, largely reversible, and readily addressed through mitigation measures; or includes a very limited number of business activities with potential adverse environmental or social risks or impacts that are diverse, irreversible, or unprecedented.

E&S category
tooltip

FI-2

Country

Brazil

Sector

Financial Institutions

Status

In implementation

Disclosed date

09/18/2023

Projected date at which a project will be put forward for the Board of Executive Directors’ approval.

Projected board date
tooltip

11/22/2023

Approval date

11/29/2023

Signed date

01/29/2024

Sponsoring entity

N/A

Investment Operations Department Contact

N/A

Investment type

Syndicated amount

N/A

Financing amount

USD $ 5,000,000

Currency

USD

Project scope and objective

The Project consists of an investment of up to US$5m in Fundo de Investimento em Participações – Multiestratégia (“Good Karma Impact Fund” or the “Fund”), a new Brazilian VC growth impact fund which aims to invest in early-growth-stage Brazilian companies, mainly, as well as other LAC companies, with proven business models and high-growth potential, with a core product, or service that promotes a measurable solution to a social and/or environmental challenge.

The Fund is incorporated in Brazil, with a feeder structure/fund in the US for non-Brazilian investors and will be managed by Good Karma Ventures Gestora de Recursos LTDA (“Good Karma” or the “Fund Manager”). Established in 2020, Good Karma is a young independent impact investment firm with an experienced investment team with deep knowledge in climate action, healthcare equity and social development. Good Karma’s team has invested more than US$4.7bn in private equity transactions.

With a target size of US$100m and a target net US$ IRR of 20%+, the Fund will invest 80% of the capital in approximately 6-8 mature venture-backed companies (Series B+) and 20% in 2 to 4 early-stage companies in sectors such as sustainable agriculture, decarbonization of industrial processes and energy, healthcare, education, and social development.

This transaction has a strong fit with IDB Invest strategic focus in supporting climate finance investments, health, and education sectors. It is also an opportunity to keep increasing IDB Invest relevance across all stages of the company life cycles, closing gaps in the “early growth” stage, as well as access to co-financing opportunities in developmental-strategic sectors.

For inquiries, comments and information requests about the project

Request information

Learn more about how we provide private-sector solutions in the region .

Environmental and social review

IDB Invest conducts an environmental and social due diligence (ESDD) commensurate with the nature, scale, and stage of the project, and with its level of environmental and social risks and impacts. The ESDD will confirm the project E&S categorization and assess the project with respect to the client requirements in IDB Invest Environmental and Social Sustainability Policy. The results of the ESDD, including any identified gaps are described in the Environmental and Social Review Summary (ESRS) provided below. For projects approved as of 2016, any gaps with respect to IDB Invest's Environmental and Social Sustainability Policy at the time of the ESDD are addressed in the Environmental and Social Action Plan (ESAP) presented below, to comply with the date mentioned above.

GOODKARMA IMPACT FUND - ENVIRONMENTAL AND SOCIAL REVIEW SUMMARY (ESRS) (1)

153.6 Kb

For inquiries, comments and information requests about the project

Request information

Learn more about how we provide private-sector solutions in the region .

Contact information

For inquiries, comments and information requests about the project

Request information

Alternatively, you may also use the following contact information :

Client Contact

EMAIL

patricia@gkpar.com

PHONE NUMBER

+55 11 992669156

POST OFFICE ADDRESS

IDB Invest Contact

EMAIL

requestinformation@idbinvest.org

PHONE

+1(202)-566-4566

ADDRESS

1350 New York Ave NW, Washington, DC 20005

For inquiries, comments and information requests about the project

Request information

Learn more about how we provide private-sector solutions in the region .