30.0 million (USD)

Product Line	IFC Investment (million USD)
Risk Management
Guarantee
Loan
Equity	30.0

* These investment figures are indicative

Stakeholder effects - Increasing investee growth: The Project is expected to help PFG in its bid to further close the financing gap that exists, especially in mid-sized, early-stage companies in Emerging Markets in a range of sectors that PFG has experience investing in: Technology, Fintech, Life Sciences, Energy/Cleantech, and Consumer/Commerce. The Project is intended to provide growth capital to high growth companies in geographies of interest, thereby increasing their growth (revenue) and filling the shortfall created by risk averse banks or dilutive equity providers. Contribution to Market Creation - Integration: IFC anticipates that the Project will connect early-stage companies in emerging economies with international and domestic finance providers by demonstrating the viability of scaling a venture debt model, that is well-established for this segment in high income countries, in emerging markets.

Financial Additionality: IFC will support PFG in establishing its first investment vehicle focused on global Emerging Markets, to provide needed debt capital to early-stage innovators. The project is expected to allow PFG to gain additional experience in Emerging Markets, attract new investors and gradually increase Emerging Markets exposure in its flagship funds. Knowledge, Innovation and Capacity-Building: IFC will support PFG's increasing Emerging Markets expansion by leveraging on its technical expertise and knowledge of the technology industry and venture capital business models in Emerging Markets. IFC will facilitate introductions and help PFG develop their pipeline.

The contemplated transaction (the “Project”) is a USD 30 million managed account, whereby IFC would acquire participation interests in loans made by PFG (the “Fund Manager”), alongside PFG’s flagship funds. The Fund Manager will invest in companies focused on technology and innovation, in sectors including consumer goods, finance & insurance, internet projects, transport services & logistics, and health & life science. The activities supported by the Fund Manager are expected to have low to medium E&S risks and therefore this investment has been classified as category FI-2 project according to the IFC Sustainability Policy. The Fund Manager will not support higher risk transactions that may include: (a) involuntary resettlement; (b) potential adverse impacts on Indigenous Peoples; (c) significant risks to or significant negative impacts on the environment, community health and safety, biodiversity, cultural heritage; or (d) significant occupational health and safety risks. In addition, transactions involving coal-related activities will be excluded from the Project portfolio. IFC’s applicable E&S requirements for this Project will be to comply with the Exclusion List, the host country laws and regulations and the IFC's Performance Standards.

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
Tabby	United Arab Emirates	O-MF - Virtual lending, P2P, crowdfunding
Baubap	Mexico	O-CB- Finance Companies - Consumer Finance
MatchMove	Singapore	O-FA- Other Non-Banking Financial Institution (NBFI)
SUMA	Chile	R-BA- Computer Systems Design and Related Services (System Integration, Custom Computer Programming, IT Services etc.)

The key E&S risks and impacts of this Project derive from the Fund Manager’s capacity to identify and manage potential environmental and social risks associated with its investment activities, including the supply chain of its investees. These risks typically include occupational health and safety issues, pollution prevention, waste and wastewater management, and labor and working conditions issues, and community impacts among others. PFG has developed and is implementing an Environmental and Social Management System (ESMS). The Fund Manager has implemented a set of policies, procedures and tools which are captured in an Environmental, Social and Governance Management Framework (“ESG Management Framework”). ESG Management Framework consists of three sections: ESG Policy, ESG Procedures, and ESG Management. ESG Procedures are supplemented with Annexes that contain a set of supporting documents such as the Exclusion List, ESG DD Template, ESG contract clause, ESG Action Plan template, and ESG Monitoring Report template. The responsibilities for the framework are divided between four key roles: investment team, investment committee, legal team, and ESG Coordinator. The ESG Coordinator carries responsibility for the development and maintenance of the ESG Management Framework including all policies, procedures, and tools. The Fund Manager will be required to enhance its ESG Framework (specifically its principles and standards) by including IFC Performance Standards as one of its Annexes. Although the Fund Manager is consistent in screening its investee companies against the IFC Performance Standards, as part of this Project the Fund Manager will formally incorporate them in its ESG Management Framework for all investee companies in the aforementioned investment vehicle. As part of the credit screening, PFG conducts an ESG risk assessment to identify any gaps with relevant standards, assesses the investee company’s ESG risk management quality and establishes if any of the IFC Performance Standards apply. The ESG questionnaire helps guide the ESG risk assessment and aims to identify any potential gaps in the investee company’s performance against the Fund Manager’s requirements. After completion of the ESG risk assessment, all findings and recommendations are documented in the ESG Due Diligence Memo. The Fund Manager maintains a website with contact information and a web-based form to report a concern or to request information. As part of this investment, the Fund Manager will be required to maintain and continue implementation of its E&S policies and procedures, entailing: (i) screening of all potential investee companies against IFC’s Exclusion List; (ii) review of all investee companies per the E&S laws and regulations of the target country and the IFC Performance Standards; (iii) maintaining of ESMS Officer; and (iv) providing E&S training to staff responsible for the implementation of the ESMS. IFC will review the first three E&S due diligence reports on its participation investments to confirm the capacity of the Fund Manager in implementing its ESMS and assessing the E&S risk of its investees. The Fund Manager will also be required to provide Annual Environmental Performance Report to IFC and to maintain its External Communication mechanism.

S.no	Title	Anticipated Completion Date	Status
1	Other1 - Make ESMS Enhancements	01/31/2022	Completed