PROJECT

Projects

Summary of Investment Information

Project Number

33645

Company Name

LOGO YAZILIM SANAYI VE TICARET ANONIM SIRKETI

Date SPI Disclosed

Oct 25, 2013

Country

Turkiye

Region

Central Asia and Turkiye

Projected Board Date

Sep 27, 2013

Environmental Category

C - No Impact

Status

Completed

Last Updated Date

Jun 12, 2021

Department

WBG Digital and AI

Industry

Telecommunications and Technology

Previous Events

Approved : Oct 1, 2013
Signed : Oct 25, 2013
Invested : Dec 9, 2013

Sector

Computer Systems Design and Related Services (System Integration, Custom Computer Programming, IT Services etc.)

Project Description

The proposed project is a 20 million Turkish Lira (approximately US$ 10 million) corporate loan to Logo Yazılım Sanayi ve Ticaret A.Ş. (“Logo” or the “Company”) to fund its growth plans through acquisitions and investments in product development. Logo is a leading Turkish software company that offers integrated business applications to mainly small and medium sized enterprises (“SMEs”). The proposed investment also includes an equity co-investment of EUR 2 million (approximately US$ 3 million) with Mediterra Capital Partners I, LP (“Mediterra” or the “Fund”), a closed-end private equity fund that into which IFC invested into in 2012, through EAS Solutions Sarl (“EAS Solutions” or the “SPV”), a holding company incorporated in the Grand-Duchy of Luxembourg.

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation