Company name
N/A
Project number
12494-01
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
FI-2
Country
Regional
Sector
Investment Funds
Status
In implementation
Disclosed date
01/14/2020
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
02/24/2020
Approval date
03/10/2020
Signed date
07/13/2020
Sponsoring entity
N/A
Investment Operations Department Contact
N/A
Investment type
Syndicated amount
USD $ 7,500,000
Financing amount
USD $ 7,740,000
Currency
USD
Project scope and objective
The Latin America Venture Debt Growth Fund (the “Fund”) is a venture and growth debt fund formed between SVB Financial Group (“SVB”), Partners for Growth (”PFG” or “Fund Manager”) and IDB Invest. The Fund aims to unlock innovation and support the growth of tech-enabled companies across Latin America and the Caribbean (“LAC”). IDB Invest is proposing an investment package consisting of (i) up to US$15 million for 49% of the Fund’s capital commitments; and (ii) up to $240,000 in the Fund’s general partner for a 20% equity stake in the General Partner (the “Project”). The Fund, pioneering the strategy in Latin America and the Caribbean, will provide structured debt to later stage innovative companies across LAC in sectors such as software, technology, life sciences, healthcare and fintech, among others.
This IDB Invest project will complement other IDB Lab efforts in the venture debt space focused on smaller and earlier stage startup companies. Through this coordinated approach, the IDB Group will not only be partnering with SVB and PFG, leading global venture and growth stage lenders, to expand activity in the region, but will also promote the development of debt as a financing option for companies across the innovation economy, addressing a gap in the market for venture and growth stage companies in the LAC region.
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Request informationLearn more about how we provide private-sector solutions in the region .
Contact information
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Request informationAlternatively, you may also use the following contact information :
Client Contact
N/A
PHONE NUMBER
N/A
POST OFFICE ADDRESS
N/A
IDB Invest Contact
requestinformation@idbinvest.org
PHONE
+1(202)-566-4566
ADDRESS
1350 New York Ave NW, Washington, DC 20005
COUNTRY OFFICES
IDB Invest Country OfficesIndividuals or communities can submit complaints and concerns related to environmental, social, or corporate governance issues to the Management Grievance Mechanism by e-mailing mgm@iadb.org or by calling +1 202 312 4040.
As a last resort, affected communities have access to the IDB Invest Independent Consultation and Investigation Mechanism by writing to mecanismo@iadb.org or MICI@iadb.org or calling +1(292) 623-3952.
For inquiries, comments and information requests about the project
Request informationLearn 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.
ENVIRONMENTAL AND SOCIAL REVIEW
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