Summary of Proposed Investment
Project Number
8442
Company Name
TCW/ICICI Private Equity Fund, L.L.C.
Date SPI Disclosed
Jul 8, 1997
Country
India
Industry
other
Status
Completed
Sector
Private Equity/Venture Cap Fund - Country
Department
Equity Portfolio Management
Environmental Category
FI
Previous Events
Approved : Aug 22, 1997
Signed : Aug 25, 1997
Invested : Sep 4, 1997
Project Description
Summary Of Project Information (SPI)
| Project Name | India-TCW/ICICI India Private Equity Fund |
| Region | Asia |
| Sector |
Projected Board DateAugust 8, 1997
Company NameTCW/ICICI Investment Partners, L.L.C.
Technical Partner and/or Major Shareholders
Trust Company of the West Group Inc. (TCW)
Industrial Credit and Investment Corporation of India (ICICI)
Project Cost Including proposed IFC investment
US$125.0 million, including an IFC equity investment of US$10 million.
Location of project and Description of site
Indian investee companies located throughout India
Description of Company and Purpose of Project
Establishment of a US$125 million offshore closed-end venture capital fund, to be formed as a limited life company based in Mauritius. The Fund will invest in unlisted equity or equity-related securities issued by medium-size, later-stage and some early stage companies in a broad range of industries in India. The Fund will operate for a term of seven years with the option to extend for two one-year periods. The Fund will be administered by a fund management company, TCW/ICICI Investment Partners, L.L.C. also to be based in Mauritius. TDICI (Technology Development and Information Company of India Ltd.), an affiliate of ICICI based in India, will be Investment Adviser to the Manager.
Environmental Category and Issues
This is a Financial Intermediary (FI) category project. The Fund will be required to undertake an environmental review of eligible investee companies’ operations to ensure consistency with World Bank policies and guidelines and GOI requirements. TCW/ICICI will assign two officers to undertake environmental reviews of investee companies. In addition, TCW/ICICI will provide IFC with an annual environmental monitoring report.
| Date SPI sent to PIC | July 8, 1997 |
For Additional Information contact: Corporate Relations Unit -
telephone: (202) 473-7711
facsimile: (202) 974-4384
Sponsor / Cost / Location
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