The Fund is managed by Alta Growth Capital Management Mexico (GP) III, L.P., an Ontario-based limited partnership which serves as the general partner of the Fund (the “General Partner”). The General Partner is managed by AGC GP Management, LLC (“AGC”), a Delaware limited liability company which is comprised of five investment professionals that have been working together for between 7-12 years. Alta Growth Capital, S.C. is a civil partnership established under the laws of Mexico which will provide investment advisory services to the Fund pursuant to an investment advisory agreement (the “Investment Advisor”).

The Fund is seeking to raise US$250 million in capital commitments. The proposed IFC equity commitment is up to US$15 million, not to exceed 20% of aggregate capital commitments in the Fund.

The Fund, an Ontario limited partnership, will operate and invest in Mexico. The General Partner is based out of Delaware and the Investment Advisor is domiciled in Mexico.

The expected development impact is that Alta will drive growth, expansion and operational efficiencies at investee level because Alta takes significant minority or control stakes in its portfolio companies, and then uses the 5-7 year holding period to add value through: (i) Building strong partnerships with investees through alignment of interest and common values; (ii) Implementing effective management teams and proper incentives; (iii) Driving growth plans by having at least two partners work on each company and implementing initiatives such as the 100 day plan; (iv) Closely monitoring investee performance; (v) Partnering with IFC to institutionalize and bolster (a) international ESG standards; (b) prudent valuation methodologies; and (c) transparent and consistent reporting standards; (vi) Being active at board and committee level; and (vii) Having an active independent advisory board that provides a network of executives for investees, among others.
The expected market impact is on competitiveness of the Mexican PE Market Structure and Activity because of IFC's clear role in bolstering competition in Mexico due to the demonstration effect investing in a highcaliber GP like Alta has on PE CKD's and institutional investors.

Equity & Stamp of Approval: IFC's financing is much needed in a challenging fundraising market where overall underperformance in the asset class, among other effects such as uncertainty surrounding NAFTA,
has made raising capital from institutional investors difficult for PE funds in Mexico. Backing AGC III is integral to helping Alta reach an appropriate first close size (+US$100 million), at a time when there is a clear market gap in funding for Mexican PE funds, and a first close over US$100 million is key in allowing AGC III to hit its US$250 million target.
Co-Investments: Alta has a track record of offering co-investment opportunities to LPs in Fund II (i.e. Maskota, Liquid Capital), and is already inviting IFC to participate in 3 advanced pipeline deals in Fund III.

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, 2025.