31328 - Delta Partners

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Summary of Proposed Investment

Project Number

31328

Company Name

DELTA PARTNERS EMERGING MARKETS TMT GROWTH FUND II LP

Date SPI Disclosed

Apr 13, 2012

Country

United Arab Emirates

Industry

Financial Markets

Projected Board Date

May 14, 2012

Status

Active

Sector

Private Equity/Venture Cap Fund - Sector

Department

Regional Industry - INF Africa

Environmental Category

Previous Events

Approved : Jan 9, 2013
Signed : Jan 30, 2013
Invested : Apr 19, 2013

Project Description

The proposed project is an investment of up to US$20 million in equity, not to exceed 20% of total fund commitments, in Delta Partners’ Emerging Markets TMT Growth Fund II, L.P. (“the Fund”), a private equity fund sponsored by Delta Partners Group (“Delta”). Delta is seeking to raise US$350 million of aggregate commitments for the Fund, with initial closing targeted at US$100 million and a hard cap at US$500 million. The Fund will invest in Telecoms, Media, and related Technology (“TMT”) companies in Africa, Central & Eastern Europe, the Middle East, and South East Asia, and will provide expansion and growth capital through equity and equity-related investments to a diversified portfolio of private TMT businesses such as broadband & data access, corporate ICT & data centers, localized new media, and network optimization technologies. The Fund may also invest in debt securities that have equity-like returns or an equity component, or are related to its equity investments.

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:
i. Economic and Private Sector Development: Investment in high-growth TMT companies and establishing telecom and IT infrastructure in high-need areas, including in Sub-Saharan Africa and Asia will contribute to economic growth and deepening of private markets.
ii. Knowledge transfer and demonstration effect: The Fund employs, hands-on/value-added strategy with its portfolio companies, thereby transferring management and sector knowledge to emerging market firms, leading to greater competitiveness and sustainability.
iii. Creation of New Jobs: Support the creation of new jobs as investee companies expand.
iv. Private Equity Development: Support and further develop emerging private equity industry in the target regions.

IFC will play an important role in this project by:
i. Mobilizing Capital: IFC's participation will be catalytic in mobilizing other regional and sector investors as IFC provides additional credibility for emerging market TMT investments.
ii. Expanding investment Network: IFC's investment network and knowledge of market players provide additional connection points for a hands- on investment approach. Additionally, an IFC representative will sit on the Advisory Committee.
iii. Providing E&S and Governance Expertise: Delta will implement IFC's E&S policy standards; IFC will help Delta implement best practice ESG and help bring fund terms to best international standards.

As IFC will invest in a financial intermediary that will fund telecoms, media, and related technology projects, its investment is expected to involve a mix of low to medium environmental and social (E&S) risk, and therefore this project is classified as Category FI.

In accordance with IFC's 2012 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, 2018.

Investee	Country of Investment	Sector
Cash Credit	Bulgaria	Financial Transactions Processing
CipherCloud Inc	India	Other (Including Satellite Telecommunications, Radio and Television Broadcasting, etc.)
Knowlarity	India	Other (Including Satellite Telecommunications, Radio and Television Broadcasting, etc.)
PlayCo Holding ltd Startzplay	MENA Region	Other (Including Satellite Telecommunications, Radio and Television Broadcasting, etc.)
VMCEE	Poland	Mobile Telephony

Contacts

For Inquiries About the Project, Contact

Geoffrey D. Fink
Managing Partner & Head of Investments Delta PartnersPO Box 502428, Media One Tower,
29th floor, Dubai Internet City, United Arab Emirates
Telephone: +971 4 369 2999
Fax : +971 4 368 8408
Email: mailto:gdf@deltapartnersgroup.com

For Inquiries and Comments About IFC, Contact

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IFC Corporate Relations
2121 Pennsylvania Avenue, NW
Washington DC 20433
Telephone: 202-473-3800
Fax: 202-974-4384
E Mail: Webmaster

This Summary of Proposed Investment is prepared and distributed to the public in advance of the IFC Board of Directors' consideration of the proposed transaction. It is not an offer of shares to the public and is intended solely to enhance the transparency of IFC’s activities. 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 Policy on Disclosure of Information that went into effect April 30, 2006.

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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