PROJECT

Projects

Summary of Investment Information

Project Number

42978

Company Name

PROVIDENT GROWTH FUND II, LP

Date SPI Disclosed

Oct 16, 2019

Country

East Asia and Pacific Region

Region

East Asia and the Pacific

Projected Board Date

Dec 4, 2019

Environmental Category

FI-2 - Limited

Status

Active

Last Updated Date

Dec 21, 2023

Department

Equity Portfolio Management

Industry

Funds

Previous Events

Approved : Dec 4, 2019
Signed : Dec 10, 2019
Invested : Dec 23, 2019

Sector

Growth Equity Fund

Project Description

 Provident Growth Fund II, LP (“the Fund”) is targeted to be a US$200 million fund focused primarily on growth stage technology investments in Southeast Asia with a focus on Indonesia. The Fund intends to take minority stakes in companies across various sectors including e-commerce, new retail, fintech, artificial intelligence & big data, edu-tech and platform plays. Average ticket size of the Fund’s investments is between US$10-20M.                                                  

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation