PROJECT

Projects

Summary of Investment Information

Project Number

43894

Company Name

AFMF, LP

Date SPI Disclosed

Feb 4, 2022

Country

Cambodia

Region

East Asia and the Pacific

Projected Board Date

Mar 31, 2022

Environmental Category

FI-2 - Limited

Status

Active

Last Updated Date

Mar 29, 2023

Department

Equity Portfolio Management

Industry

Funds

Previous Events

Approved : Jul 17, 2017
Signed : Dec 20, 2022
Invested : Feb 10, 2023

Sector

Small Business Fund

Additional Project Attributes

Blended Finance

Project Description

ASEAN Frontier Markets Fund, LP (AFMF or the “Fund”) is a US$90m (target) generalist growth capital fund investing in small and medium enterprises (SMEs) primarily in Cambodia and Laos. The Fund will also seek a limited number of opportunities in other ASEAN-based companies which will typically have a strategic interest in, or growth plans to, Cambodia and Laos. The Fund will target growth-oriented sectors, including consumer, financial services, healthcare, and education.

The fund will be supported by the IDA19PSW Blended Finance Facility, created by the World Bank Group to catalyze private sector investments in IDA countries with a focus on fragile and conflict-affected states.

Associated Advisory Engagement

The Project will benefit from IFC’s Advisory Services through technical assistance to both the Fund Manager and portfolio companies.

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation