PROJECT

Projects

Summary of Investment Information

Project Number

39831

Company Name

HIGHLAND PRIVATE EQUITY AND MEZZANINE FUND LP

Date SPI Disclosed

Apr 17, 2024

Country

Kyrgyz Republic

Region

Central Asia and Turkiye

Environmental Category

FI-2 - Limited

Status

Active

Last Updated Date

Sep 12, 2024

Department

Equity Portfolio Management

Industry

Funds

Previous Events

Approved : Jul 17, 2017
Signed : Aug 16, 2018
Invested : Oct 9, 2018

Sector

Small Business Fund

Additional Project Attributes

Blended Finance

Project Description

The proposed project consists of an equity investment of up to US$5 million in the Highland Private Equity and Mezzanine Fund L.P. (the “Fund”), one of the first institutional investment funds in the Kyrgyz Republic seeking to raise US$30 million to provide risk capital to 10-15 local Small and Medium Enterprises (SME) in the form of equity and quasi-equity financing in the Kyrgyz Republic. The Fund is a generalist with a focus on the consumer sector, agro-processing, healthcare, education and telecommunications. The project will be supported by the Blended Finance Facility of the IDA18 IFC-MIGA Private Sector Window (“IDA PSW BFF”), created by the Word Bank Group to catalyze private sector investment in IDA countries, with a focus on fragile and conflict-affected states. The Blended Finance Facility is intended to help the Fund attract more private sector investors and reach more SMEs. 

Associated Advisory Engagement

The Fund is likely to be supported through a mentorship to help the fund manager build its soft infrastructure and skills and provide advisory support to the fund's investees in rolling out their growth plans.  

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation