Summary of Proposed Investment
Project Number
5136
Company Name
Profund Internacional, S.A.
Date SPI Disclosed
Aug 16, 1995
Country
World Region
Industry
other
Status
Completed
Sector
Private Equity/Venture Cap Fund - Regional
Department
Equity Portfolio Management
Environmental Category
C - No Impact
Previous Events
Approved : Mar 7, 1996
Signed : Jun 13, 1996
Invested : Aug 15, 1996
Project Description
Summary Of Project Information (SPI)
| Project Name | Latin America Region-Profund |
RegionLatin America and Caribbean
SectorCapital Markets
Project No005136
Projected Board DateSeptember 30, 1995
Company NameProfund
Technical Partner and/or Major Shareholders
The sponsors include private non-profit institutions experienced in financing microenterprises such as ACCION International of Massachusetts, the Calmeadow Foundation of Toronto, FUNDES of Switzerland, and Societe d’Investissement et de Developpement International in Paris (together the “Founders”).
Project Cost Including proposed IFC investment
The initial capitalization of the Fund is anticipated to be US$15-18 million, of which the Founders will invest about US$4 million and IFC up to US$3 million.
Location of project and Description of site
Profund will be established as a corporation in Panamá City, Panamá and the management offices of Profund will be located in San José, Costa Rica.
Description of Company and Purpose of Project
The project consists of establishing Profund, the first vehicle of its kind to specialize in making equity and equity linked investments in commercially viable financial institutions that serve small and micro-businesses in the Latin American and Caribbean region.
Environmental Category and Issues
This is a category C project according to IFC’s environmental review procedure. The Environment Division proposes to work with the management of Profund to gather information in the course of this project on characteristics of microenterprise investments and their potential for environmental impact.
For Additional Information contact: Corporate Relations Unit -
telephone: (202) 473-7711
facsimile: (202) 676-0365
Sponsor / Cost / Location
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