53196 - Cometa IV, L.P.

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Summary of Investment Information

Project Number

53196

Company Name

Cometa IV, L.P.

Date SPI Disclosed

Sep 12, 2026

Country

Mexico

Region

Latin America and the Caribbean

Projected Board Date

Oct 12, 2026

Environmental Category

FI-2 - Limited

Status

Pending Approval

Last Updated Date

Sep 13, 2026

Department

Equity Portfolio Management

Industry

Funds

Sector

Venture Capital Fund

Project Description

The Project is an equity investment of up to US$15 million in Cometa IV, L.P. (“Cometa IV”, “The Fund”), a Delaware domiciled fund focused on investing in early-stage technology companies in Spanish-speaking Latin America.

Sponsor / Cost / Location

Development Impact

The Fund is expected to increase access to early-stage venture capital financing and value creation services for technology startups in Spanish-speaking Latin America, resulting in business growth. A material share of investees is expected to have a woman co-founder, thereby addressing gender divides in access to equity. The project is also expected to strengthen market integration in the traditional real and financial sectors in Spanish-speaking Latin America, through the expansion of investees with disruptive business models, via demonstration and replication and/or competition and innovation channels.

IFC additionality is both financial and non-financial. Financial additionality involves the provision of IFC’s own account equity, as IFC’s participation will support the Fund in achieving a strong first close and progressing toward its target size, enabling the Fund to deploy capital consistently into early-stage companies. Non-financial additionality includes standard setting, as IFC’s support will strengthen environmental and social (E&S) policies and reinforce the Fund’s gender policies at both the Fund and investee level.

E&S Category Rationale / Risks and Mitigation

Key environmental and social (E&S) risks and impacts associated with the Project relate to Cometa's ability to identify, assess, and manage the E&S risks of prospective and portfolio companies in accordance with IFC requirements, given the early-stage nature of the investees and their significant growth potential. Portfolio companies are expected to present low to medium E&S risks, primarily related to labor and working conditions and pollution prevention. Accordingly, in line with IFC's Sustainability Framework, the Project has been categorized as FI-2. Applicable E&S requirements include compliance with the IFC Exclusion List, relevant E&S laws and regulations in the countries in which the Fund operates, and the application of IFC Performance Standards 1 and 2. The Fund will exclude Category A activities, including investments involving involuntary resettlement; risks of adverse impacts on Indigenous Peoples; significant environmental, community health and safety, biodiversity, or cultural heritage impacts; retrenchment risks; significant occupational health and safety risks; and high-risk double intermediation. In addition, the Fund will exclude coal-related activities, private K–12 education, and non-certified RSPO- or Rainforest Alliance-related palm oil activities. The Fund will be required to comply with IFC Performance Standard 2 on Labor and Working Conditions, Life and Fire Safety standards for employee protection, and submit annual E&S reporting to IFC. Finally, IFC will also review the first three E&S due diligence reports to confirm the capacity of the Fund Manager in implementing its ESMS (Environmental and Social Management System).

Cometa currently applies ESG questionnaires and qualitative assessments to prospective and portfolio companies, covering topics such as job quality, governance, diversity, and business integrity. However, the system is primarily focused on ESG scoring rather than on comprehensive E&S risk management aligned with IFC requirements. In addition, while the Fund maintains a publicly accessible external communication channel, it does not currently have a formal procedure for the receipt, handling, and resolution of complaints.

Cometa has established an organizational structure to manage E&S matters, including a designated ESG Champion responsible for ESMS implementation, portfolio monitoring, and reporting. This role is supported by a member of the investment team serving as the ESG focal point for E&S due diligence and post-investment oversight. The Fund will strengthen its ESMS through the implementation of an Environmental and Social Action Plan (ESAP). Building on its existing questionnaires and procedures, the Fund will incorporate the applicable E&S requirements and screening tools into its E&S due diligence (ESDD) process and establish an E&S monitoring procedure covering reporting, supervision, compliance tracking, and corrective actions. The Fund will also be required to implement an External Communication Mechanism (ECM) aligned with IFC Performance Standard 1 and to develop and deliver an E&S training program focused on the IFC Performance Standards.

S.no	Title	Anticipated Completion Date
1	ESMS enhacement	10/22/2026
2	E&S Training	01/20/2027

Contacts

For Inquiries About the Project, Contact

Ad Astra Partners, LLC
Rafael de Haro Martinez Vertiz
Managing Partner

rafa@cometa.vc
Havre 77, Juarez, Cuauhtemoc, 06600 Ciudad de Mexico, CDMX, Mexico
https://www.cometa.vc/

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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.

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Indicator	Metrics	Comments	Calendar Year 2022	Calendar Year 2023	Calendar Year 2024
Investees with SME Classification at time of Acquisition (%)	%	SME Investees (%) [Calculated]
Investees in IDA Countries (%)	%	Investees in IDA Countries (%) [Calculated]
Corporate Governance: Investees where Fund Manager has Board Seat (%)	%	Investee Boards with Fund Manager (%) [Calculated]

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