PROJECT

Projects

Summary of Investment Information

Project Number

31206

Company Name

CoreCo Central America I Limited Partnership

Date SPI Disclosed

Mar 23, 2012

Country

Central America Subregion

Region

Latin America and the Caribbean

Projected Board Date

Apr 23, 2012

Environmental Category

FI-2 - Limited

Status

Active

Last Updated Date

May 13, 2021

Department

Equity Portfolio Management

Industry

Health, Education and Life Sciences

Previous Events

Approved : Jun 25, 2012
Signed : Jun 27, 2012
Invested : Jul 25, 2012

Sector

Private Equity/Venture Cap Fund - Regional

Project Description

The project consists of an IFC equity investment of up to $10 million or a maximum of 20% of total capital commitments in CoreCo Central America Fund I, L.P. (“CCAF I” or the “Fund”), a private equity fund that will invest in small- and medium-sized enterprises (“SMEs”) in Central America. With a target size of $65 million, the Fund will focus on underserved sectors with high growth rates, such as healthcare, IT, retail, financial and business services. The Fund will invest in 8-12 regional services-based businesses with an investment allocation of $1 million to $5 million per company. Managed by CoreCo Management, Inc., a well-qualified fund management with presence and business networks across Central America, the fund management team sees an opportunity in the region considering: (i) there is an underserved private equity market in the region with growing demand; (ii) the region is attractive in terms of size and consumption; and (iii) there is a favorable competitive landscape where strong demand for independent capital with good corporate governance and financial standards are required. The Fund’s investment thesis and exit strategy anticipate regionalization and cross-border exits.

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation