31328 - Delta Partners

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Summary of Investment Information

Project Number

31328

Company Name

DELTA PARTNERS EMERGING MARKETS TMT GROWTH FUND II LP

Date SPI Disclosed

Apr 13, 2012

Country

World Region

Region

Global

Projected Board Date

Jan 9, 2013

Environmental Category

FI-2 - Limited

Status

Active

Last Updated Date

Dec 21, 2024

Department

Regional Industry - INF Africa

Industry

Funds

Previous Events

Approved : Jan 9, 2013
Signed : Jan 30, 2013
Invested : Apr 19, 2013

Sector

Growth Equity Fund

Project Description

The proposed project is an investment of up to US$20 million in equity, not to exceed 20% of total fund commitments, in Delta Partners’ Emerging Markets TMT Growth Fund II, L.P. (“the Fund”), a private equity fund sponsored by Delta Partners Group (“Delta”). Delta is seeking to raise US$350 million of aggregate commitments for the Fund, with initial closing targeted at US$100 million and a hard cap at US$500 million. The Fund will invest in Telecoms, Media, and related Technology (“TMT”) companies in Africa, Central & Eastern Europe, the Middle East, and South East Asia, and will provide expansion and growth capital through equity and equity-related investments to a diversified portfolio of private TMT businesses such as broadband & data access, corporate ICT & data centers, localized new media, and network optimization technologies. The Fund may also invest in debt securities that have equity-like returns or an equity component, or are related to its equity investments.

Sponsor / Cost / Location

Product Line	IFC Investment (million USD)
Risk Management
Guarantee
Loan
Equity	20.0

Development Impact

The Project is expected to have the following development impacts: i. Economic and Private Sector Development: Investment in high-growth TMT companies and establishing telecom and IT infrastructure in high-need areas, including in Sub-Saharan Africa and Asia will contribute to economic growth and deepening of private markets. ii. Knowledge transfer and demonstration effect: The Fund employs, hands-on/value-added strategy with its portfolio companies, thereby transferring management and sector knowledge to emerging market firms, leading to greater competitiveness and sustainability. iii. Creation of New Jobs: Support the creation of new jobs as investee companies expand. iv. Private Equity Development: Support and further develop emerging private equity industry in the target regions.

IFC will play an important role in this project by: i. Mobilizing Capital: IFC's participation will be catalytic in mobilizing other regional and sector investors as IFC provides additional credibility for emerging market TMT investments. ii. Expanding investment Network: IFC's investment network and knowledge of market players provide additional connection points for a hands- on investment approach. Additionally, an IFC representative will sit on the Advisory Committee. iii. Providing E&S and Governance Expertise: Delta will implement IFC's E&S policy standards; IFC will help Delta implement best practice ESG and help bring fund terms to best international standards.

E&S Category Rationale / Risks and Mitigation

In accordance with IFC's Access to Information Policy, IFC will periodically disclose the names, locations and sectors of sub-projects that have been supported by IFC investments through private equity funds, subject to regulatory constraints and market sensitivities. The sub-project(s) listed below reflect(s) the status of the portfolio as of January 1, 2023.

Investee	Country Of Investment	Sector
Cash Credit	Bulgaria	O-M - Financial Transactions Processing
CipherCloud Inc	India	N-AD - Other (Including Satellite Telecommunications, Radio and Television Broadcasting, etc.)
StarzPlay Arabia	Middle East Region	N-AD - Other (Including Satellite Telecommunications, Radio and Television Broadcasting, etc.)

In Delta Partners' investments in software projects, E&S is likely to be mostly low, mainly involving worker health and safety. In investments in telecom projects, medium E&S risk is likely, with key risks in investee companies' E&S management policies and procedures, siting of towers and other facilities, land acquisition processes, impacts of construction and operations, disclosure and community engagement, and management of contractor/subcontractors. In investments in submarine cable projects, E&S risk as in other telecom projects is expected, but there may be additional E&S risk in biodiversity and natural habitats, and other marine considerations. In investments in data centers and media projects, medium E&S risk is expected where substantial new facilities are constructed, while projects that involve simply refitting existing facilities would involve low E&S risk. Delta Partners should review potential investments in media projects to ensure that there is no high level of advertising or other media content involving items on IFC’s Exclusion List, such as tobacco and alcohol products.

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IFC supports its clients in addressing environmental and social issues arising from their business activities by requiring its real sector clients to set up and administer appropriate grievance mechanisms and/or procedures to address complaints from Affected Communities in relation to environmental and social issues arising from IFC's clients' business activities. Since 2012, IFC's Financial Intermediary clients applying the Performance Standards are required to develop External Communications Mechanisms to receive and review inquiries or complaints from any interested party regarding the E&S risks and impacts of their operations.

For IFC projects that are active or under consideration, individual(s), or their authorized representative(s), who allege they have been or will be adversely affected by E&S risks or impacts arising from IFC's clients' business activities, may submit a complaint to IFC directly for consideration. When receiving an E&S complaint, IFC engages with complainants and works with its clients to find solutions to E&S concerns as quickly and efficiently as possible.

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CAO receives and addresses complaints in accordance with the CAO Policy, which can be accessed at: https://www.cao-ombudsman.org/policies-guidelines.

This Summary of Investment Information (SII) is prepared by IFC to disclose a factual summary of the main elements of the potential investment. It also includes findings and recommendations related to environmental and social considerations regarding this potential investment. The purpose of the SII is to enhance the transparency of IFC’s activities. For any project documentation or data included or attached herein, whether prepared by the project sponsor or otherwise, authorization has been given for public release by the project sponsor. IFC considers that this SII is of adequate quality for release to the public, but has not necessarily independently verified all of the project information therein. It is distributed in advance of IFC Board of Directors’ consideration and may be periodically updated thereafter. Board dates are estimates only and this document should not be construed as presuming the outcome of the Board Directors’ decision. The following SII is disclosed in accordance with IFC's Access to Information Policy (AIP) that went into effect on January 1, 2012.

The map is for illustrative purposes and does not imply the expression of any opinion on the part of the World Bank, concerning the legal status of any country or territory or concerning the delimitation of frontiers or boundaries. Country borders or names do not necessarily reflect the World Bank Group's official position. In some cases, available project location information is limited to the country of the project's activities. Locations are approximate.

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