51266 - ECOENTERPRISES PARTNERS IV, L.P.

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Summary of Investment Information

Project Number

51266

Company Name

ECOENTERPRISES PARTNERS IV, L.P.

Date SPI Disclosed

May 22, 2025

Country

Latin America and the Caribbean Region

Region

Latin America and the Caribbean

Projected Board Date

Jun 23, 2025

Environmental Category

FI-2 - Limited

Status

Active

Last Updated Date

Jan 1, 2026

Department

Disruptive Tech, Service & Funds

Industry

Funds

Previous Events

Approved : Jul 17, 2017
Signed : Sep 9, 2025
Invested : Dec 24, 2025

Sector

Small Business Fund

Project Description

The proposal is for a potential equity investment into EcoEnterprises IV (“Fund IV”, or the “Fund”) of up to US$10 million, capped at 20% of total commitments. EcoEnterprises IV is an impact fund focused on investing in small and medium companies in LAC, with a focus on the following regions: Central America, Mexico, the Caribbean, Andean and Brazil.

EcoEnterprises (the “Fund Manager”) will seek to build a portfolio of 15-20 investments, across mezzanine, quasi-equity, and equity instruments. Ticket sizes will range from US$3 million to US$10 million. Fund IV will be a continuation of the predecessor funds’ strategy and focus on three main investment themes: (i) sustainable products, (ii) ag-tech, (iii) climate-tech, (iv) circular economy, and (v) clean energy.

Associated Advisory Engagement

There are no advisory services associated with this engagement.

Sponsor / Cost / Location

Product Line	IFC Investment (million USD)
Risk Management
Guarantee
Loan
Equity	250.0

Development Impact

The Fund is expected to increase access to mezzanine financing, private equity (PE) capital and value-creation for SMEs in LAC, supporting them to scale while delivering sustainability outcomes. Private equity remains extremely scarce in frontier regions of LAC such as Ecuador, Peru and Costa Rica. The Fund will provide equity financing and create value to portfolio companies through E&S capacity building, business advisory for financial management and corporate governance, and carbon footprint assessments across all investees. A meaningful share will also be invested in women owned or led businesses. Beyond the project, successful raising this fund at a larger size builds their track record to upsize across successive funds and demonstrates the model that can work at sufficient scale to be attractive to institutional investors. It also signals market opportunities for PE to expand in the LAC region beyond generalist funds targeting larger markets.

IFC's equity support will enable the fund to reach its target size, addressing challenges in private equity fundraising in the LAC region, which remains concentrated in Brazil with limited activity in frontier markets. Further, sustainability-focused funds face heightened risks due to narrower investable segments, diverse markets, and uncertain exit opportunities, particularly for SME-focused funds, which are often seen as higher risk. IFC’s non-financial additionality includes non-commercial risk mitigation, its participation as a significant Emerging Market investor in a fund targeting higher-risk SMEs in remote LAC will send a strong signal of confidence in the Fund Manager, reassuring investors and ensuring the fund achieves its minimum viable size. Additionally, through Knowledge, Innovation and Capacity Building includes continued support through SMEV Advisory to promote sustainable growth and dedicated SMEV Technical Assistance (TA) to enhance capacity building for the Fund Manager and portfolio SMEs.

Indicator	Metrics	Calendar Year 2022	Calendar Year 2023	Calendar Year 2024
Area Under New Or Improved Management Land : land	hectares	Not Available	Not Available	Not Available
Farmers Reached	individuals	Not Available	Not Available	Not Available
Female Farmers Reached : (women)	individuals	Not Available	Not Available	Not Available
Median Investee IRR : investees	%	Not Available	Not Available	Not Available
Percentage of Investees That Are Female Owned/Led	women	Not Available	Not Available	Not Available
Percentage of Investees With Revenue Growth 5 Pps Higher Than Nominal Gdp Growth : investees	%	Not Available	Not Available	Not Available

E&S Category Rationale / Risks and Mitigation

The E&S risks associated with the Project are considered moderate, mostly related to the Fund Manager (“FM”) capabilities of monitoring its portfolio against E&S risks. Therefore, the Project has been categorized as FI-2. The Fund will not invest in coal-related activities and higher risk transactions such as (a) involuntary resettlement, (b) risk of adverse impacts on Indigenous Peoples, (c) significant risks to or impacts on the environment, community health and safety, biodiversity, cultural heritage, (d) risk retrenchment or (e) significant occupational health and safety risks to employees. IFC’s applicable E&S requirements for this project are the Exclusion List, relevant E&S laws and regulations, and the IFC Performance Standards (as applicable).

EcoEnterprises has a comprehensive ESMS in place which includes a set of policies and procedures, an exclusion list, an impact metrics tool, screening questionnaires and an ESG risk rating. The ESMS is in line with the IFC requirements with minor updates required. As part of the appraisal, the FM performs an E&S due diligence (ESDD) and includes the gaps that are identified, in an E&S Action Plan (ESAP) that becomes part of the legal agreement with the target company. The Managing Director of Compliance, E&S and the ESG Officer reports directly to the investment committee. On the monitoring side, the FM receives annual reports from its portfolio companies and conducts regular site visits to review the companies' E&S performance, ESAP progress and evaluate valued-added advisory needs and technical assistance. The client has adequate channels to receive and respond to third party concerns. As part of this transaction, the Fund will be required to: (i) maintain its ESMS to screen potential investments against E&S requirements; (ii) update the ESMS to include in the screening questionnaire risks related to sexual harassment, sexual abuse, and exploitation associated with the activities of target companies; and incorporate the use of the Global Map of Supply Chain Risks in Agro-Commodity Production as a tool in its E&S risk screening process; (iii) submit the first three E&S Due Diligences conducted prior to investment, and (iv) disclose ESMS updates as well as (iv) report annually to IFC.

ESMS is aligned with PS 1. E&S Guidelines and Criteria and Investment Policy and Procedures Manual and the ESG Risk Rating system, Due diligence checklist site visit and Exclusion List, contain the standards applicable to this project, in accordance with the IFC Sustainability Framework. The ESMS provides a structured approach to identifying, assessing, and managing E&S risks for eligible small and medium-sized enterprise (SME) clients. Minor enhancements are needed to improve assessment of SEA and SH risks in the SMEs and incorporation of the Global Map of Supply Chain Risks in Agro-Commodity Production as a tool in the Fund E&S risk screening process.

S.no	Title	Anticipated Completion Date
1	Enhancements to the ESMS	06/27/2025
2	Submission of E&S Due Diligence reports	06/27/2025

Contacts

For Inquiries About the Project, Contact

EcoEnterprises Partners
Tammy Newmark
CEO

tnewmark@ecoenterprisesfund.com
5614 Connecticut Avenue, NW #135; Washington, DC 20015.
https://ecoenterprisesfund.com

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