44957 - Vinci VIR IV

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Summary of Investment Information

Project Number

44957

Company Name

VINCI IMPACT & RETURN IV, LP

Date SPI Disclosed

Nov 24, 2020

Country

Brazil

Region

Latin America and the Caribbean

Projected Board Date

Dec 21, 2020

Environmental Category

FI-2 - Limited

Status

Active

Last Updated Date

Aug 9, 2021

Department

Equity Portfolio Management

Industry

Funds

Previous Events

Approved : Feb 4, 2021
Signed : Feb 19, 2021
Invested : Mar 25, 2021

Sector

Growth Equity Fund

Project Description

The project entails an IFC equity commitment of up to US$20 million in Vinci Impact & Return IV L.P. (the “Fund”). The Fund is seeking commitments to pursue minority equity investments in SME companies in Brazil with at least 35% of the investments to focus on the Northeast region of Brazil.

Associated Advisory Engagement

n/a

Sponsor / Cost / Location

Product Line	IFC Investment (million USD)
Risk Management
Guarantee
Loan
Equity	20.0

Development Impact

E&S Category Rationale / Risks and Mitigation

The Project consists of an up to US$20 million investment in Vinci Impact & Return Fund IV (VIR IV) that will target minority investments in SMEs in sectors with high potential social impact, such as healthcare, education, healthy nutrition, services and retail. At least 35% of investments will focus the Northeast sub-region, one of the poorest areas in Brazil. Overall E&S risks associated with the potential pipeline are of a medium to low nature, therefore the project has been classified as Category FI-2 according to the IFC's Sustainability Framework. Coal related and high risks Category A type of projects will not be eligible.

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.

Investee	Country Of Investment	Sector
DMCard	Brazil	O-AI- Commercial Banking - Consumer Finance
DRS	Brazil	Q-AB- Pharmaceuticals and Medicine Wholesalers
Effico	Brazil	R-AC- Other Services (Including IT Enabled Services)
Oeste Saude	Brazil	S-AC- Other Health Services
Pro Infusion	Brazil	S-AC- Other Health Services
REPET	Brazil	R-AC- Other Services (Including IT Enabled Services)
Transpotech	Brazil	X-XY- Other
Varejao	Brazil	Q-AZ- Other Distributors and Wholesalers
Verdfrut	Brazil	Q-BA- Grocery Retail (Supermarkets, Hypermarkets, Convenience Stores etc.)

The key risks and impacts derive from the Fund’s capacity to identify and manage the E&S risks associated with potential pipeline.

Summary of Client Environmental and Social Management System (ESMS)

Vinci is an existing client, having developed and implemented an ESMS that includes policy, procedures, responsibilities and tools for undertaking E&S risk management in addition to training relevant staff. E&S due diligences are performed by a knowledgeable local consultant, that has enhanced Vinci’s ESMS since IFC’s first investment and developed the Fund’s impact investment framework. All potential investments are screened through site visits, reputational reviews and tools based on the IFC Performance Standards, including an extensive list of risks and practices review. For potential investees with E&S performance gaps, a corrective action plan is designed, included in legal documentation and monitored continuously. As part of the Project, the Fund will be required to: (i) maintain its ESMS to screen the potential investments in line with the IFC Exclusion List, Brazilian laws and regulation and the IFC Performance Standards, as applicable, (ii) submit VIR IV Fund first three E&S Due Diligences conducted prior to investment, as well as (iii) report annually to IFC . Vinci will inform IFC in the event of any material change in the nature or scope of its portfolio activities.

Contacts

For Inquiries About the Project, Contact

Vinci Capital Partners
Pedro Quintella
Partner
+1 646 559 8022
vinci_ir@vincipartners.com
Av Bartolomeu Mitre, 336 – Leblon – 22431-002 – Rio de Janeiro - Brazil
http://www.vincipartners.com/

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IFC supports its clients in addressing environmental and social issues arising from their business activities by requiring its real sector clients to set up and administer appropriate grievance mechanisms and/or procedures to address complaints from Affected Communities in relation to environmental and social issues arising from IFC's clients' business activities. Since 2012, IFC's Financial Intermediary clients applying the Performance Standards are required to develop External Communications Mechanisms to receive and review inquiries or complaints from any interested party regarding the E&S risks and impacts of their operations.

For IFC projects that are active or under consideration, individual(s), or their authorized representative(s), who allege they have been or will be adversely affected by E&S risks or impacts arising from IFC's clients' business activities, may submit a complaint to IFC directly for consideration. When receiving an E&S complaint, IFC engages with complainants and works with its clients to find solutions to E&S concerns as quickly and efficiently as possible.

Complaints can be submitted to IFC online at www.ifc.org/escomplaints or by email to EScomplaints@ifc.org.

IFC complaint response is separate from and complementary to IFC’s clients’ project level grievance mechanisms and IFC’s Independent Accountability Mechanism (CAO). Lodging a complaint directly with IFC does not, at any time, restrict access to CAO.

Affected communities have unrestricted access to the Compliance Advisor Ombudsman (CAO), the independent accountability mechanism for IFC and MIGA. CAO facilitates the resolution of complaints related to IFC and MIGA projects and sub-projects, undertakes reviews of IFC’s and MIGA’s environmental and social compliance, fosters public accountability for their commitments, and enhances the environmental and social performance of IFC and MIGA.

Independent of IFC and MIGA management and reporting directly to the IFC and MIGA Boards of Executive Directors, CAO helps resolve issues raised about the environmental and social impacts of projects through a neutral, collaborative, problem-solving approach via its Dispute Resolution function. It also reviews IFC’s and MIGA’s compliance with environmental and social policies, assesses related harm, and recommends remedial actions through its Compliance function. Additionally, CAO provides advice to IFC, MIGA, and their Boards to enhance environmental and social sustainability performance and minimize the risk of harm.

Complaints may relate to environmental and social harm regarding any aspect of the planning, implementation, or impact of a project or sub-project, and can be made by any individual, group, community, entity, or other party affected or likely to be affected by the environmental or social impacts of an IFC- or MIGA-financed business activity.

Complaints can be submitted by any of the following methods:

Online form: available at https://www.cao-ombudsman.org/
Mail/Hand Delivery to: 2121 Pennsylvania Avenue, NW, Washington, DC 20433, USA
Voice mail: +1 202 458 1973
Email: cao@worldbankgroup.org
SMS, WhatsApp, Telegram, and Signal: +1 202 650 2627

CAO receives and addresses complaints in accordance with the CAO Policy, which can be accessed at: https://www.cao-ombudsman.org/policies-guidelines.

This Summary of Investment Information (SII) is prepared by IFC to disclose a factual summary of the main elements of the potential investment. It also includes findings and recommendations related to environmental and social considerations regarding this potential investment. The purpose of the SII is to enhance the transparency of IFC’s activities. For any project documentation or data included or attached herein, whether prepared by the project sponsor or otherwise, authorization has been given for public release by the project sponsor. IFC considers that this SII is of adequate quality for release to the public, but has not necessarily independently verified all of the project information therein. It is distributed in advance of IFC Board of Directors’ consideration and may be periodically updated thereafter. Board dates are estimates only and this document should not be construed as presuming the outcome of the Board Directors’ decision. The following SII is disclosed in accordance with IFC's Access to Information Policy (AIP) that went into effect on January 1, 2012.

The map is for illustrative purposes and does not imply the expression of any opinion on the part of the World Bank, concerning the legal status of any country or territory or concerning the delimitation of frontiers or boundaries. Country borders or names do not necessarily reflect the World Bank Group's official position. In some cases, available project location information is limited to the country of the project's activities. Locations are approximate.

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