24705 - iLabs Fund II

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Summary of Proposed Investment

Project Number

24705

Company Name

PEEPUL CAPITAL FUND II LLC

Date SPI Disclosed

Jan 27, 2006

Country

India

Industry

other

Projected Board Date

Feb 2, 2006

Status

Active

Sector

Private Equity/Venture Cap Fund - Country

Department

Equity Portfolio Management

Environmental Category

Previous Events

Approved : Jun 28, 2006
Signed : Jun 28, 2006
Invested : Aug 2, 2006

Project Description

The proposal is to make an investment of up to $20 million in iLabs Investment Fund II LLC (the Fund), a private equity fund with a target size of $200 million. The Fund will invest in companies, primarily Indian enterprises but also opportunities in South Asia, or elsewhere that have substantial Indian oriented business operations. The Fund will be structured as a 10 year Mauritius limited life company.

Sponsor / Cost / Location

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

Development Impact

The project is expected to have the following development impacts:

- Partnering with local management teams and assisting them in adopting international management practices and standards and supporting them in key areas such as strategy through a hands on investment approach.
- Promote corporate governance and environmental best practices in investee companies.

IFC role in the project would include:

- Helping to define corporate governance, environmental and social standards to be followed by the Fund.
- Supporting a new Indian fund manager will help develop the private equity sector in India.
- IFC will work with the manager to ensure the Fund’s structure is in line with international standards to ensure adequate investor protection.

This is a category FI type 2 project according to IFC’s environmental and social review procedure. The Fund will be required to appoint individuals to be responsible for environmental issues and attend an environmental training workshop conducted or approved by IFC; implement an environmental management system to ensure that its investments are consistent with environmental, health and safety standards of IFC, IFC’s exclusion list, and IFC/World Bank Environmental and social policies and guidelines; and submit to IFC an environmental management plan and annual environmental performance reports.
Location of environmental documents In locally affected community

Contacts

For Inquiries About the Project, Contact

Mr. Srini RAju
iLabs Ltd
97 Road No. 3
Banjara Hills
Hyderabad 500 034, India
Telephone: + 91 – 40 – 2335 2900

This Summary of Project Information (SPI) is prepared and distributed to the public in advance of the IFC Board of Directors' consideration of the proposed transaction. Its purpose is to enhance the transparency of IFC's activities, and this document should not be construed as presuming the outcome of the Board decision. Board dates are estimates only. The following SPI is disclosed in accordance with IFC's Disclosure of Information Policy that went into effect September 1998.

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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