The principal sponsor of the Fund is Crest Investment Trust, an entity owned by the management team of Ambit Pragma Ventures Private Limited. The co-sponsor of the Fund is Ashok Wadhwa, founder of Ambit Group, India.

IFC is proposing an equity investment of $20 million in the Fund , but not to exceed 20% of total fund commitments.

20.0 million (USD)

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

* These investment figures are indicative

Ambit Pragma Ventures Private Limited has its offices in Mumbai, India and will make investments in Indian SMEs, including those located outside the main Indian metros.

(i) Support of SMEs: target investee companies will be SME''s
(ii) Private sector development, addition of value to portfolio companies by means of improved corporate governance and transparency
(iii) Providing advice and risk capital to enable faster growth in portfolio companies
(iv) Supporting high growth companies which will reach the bottom of the pyramid, and create jobs at a faster rate than the national average
(v) Contributing to sustainable economic development by incorporating environmental and social standards

(i) Catalytic role - IFC''s second commitment to a quality emerging Fund Manager would act as a stamp of approval and play a catalytic role in mobilizing other sources of capital to APF-II, contributing to a successful closing.
(ii) Global expertise - IFC has extensive experience in the infrastructure, healthcare, logistics and food & agriculture sectors and will be able to share best practices with the Fund.
(iii) Demonstration effect - IFC''s support will provide equity funding to SMEs looking for growth capital to scale up as well as management expertise.

This project involves an IFC investment in Ambit Pragma II and has been classified as Category FI. The Fund will focus on investing healthcare and wellness, logistics, infrastructure services, branded consumer packaged goods (CPG), and entertainment & leisure sectors. The proposed project is a successor fund to Ambit Pragma Fund I (“APF I”) - a SME Fund.

The likely environmental and social (E&S) risk of proposed new Fund is associated with the identification and management of E&S impacts of Fund’s sub-projects. The Applicable Performance Requirements for the sub-projects financed by the fund are likely to include a combination of: IFC FI Exclusion List, the applicable host country E&S laws and regulations, and the IFC Performance Standards. As an existing IFC client, the fund manager has been advised, based on supervision of APF I, to upgrade its SEMS. In the context of the proposed fund, IFC will assess the potential E&S risks associated with the fund''s expected portfolio and further review the existing environmental and social management capacity to manage these E&S risks.

The fund manager will be required to upgrade its Social and Environmental Management System (SEMS), prior to subscription to the satisfaction of IFC and commit to implement the SEMS to ensure that its investments/activities are in compliance with the Applicable Performance Requirements; identify responsible, qualified persons to manage and implement the SEMS; and submit a periodic report to IFC. IFC will review the implementation and performance of the fund''s SEMS for the first few projects and all Category A projects, if any, prior to the fund''s investment, to ensure the fund''s SEMS is adequate to assess and manage E&S risks.