Summary of Proposed Investment
Project Number
8562
Company Name
H&Q Philippines Holdings BVI, Inc.
Date SPI Disclosed
Oct 16, 1997
Country
Philippines
Industry
other
Status
Completed
Sector
Private Equity/Venture Cap Fund - Country
Department
Equity Portfolio Management
Environmental Category
FI
Previous Events
Approved : Feb 3, 1998
Signed : Dec 18, 1998
Invested : Jan 13, 1999
Project Description
Summary Of Project Information (SPI)
| Project Name | Philippines-Hambrecht & Quist Philippine Ventures III (H&QPV3) |
| Region | East Asia |
| Sector |
Projected Board DateNovember 20, 1997
Company NameHambrecht & Quist Philippines, Inc. (H&QPI)
Technical Partner and/or Major Shareholders
The principal project sponsor is H&QPI, a major venture capital fund management company based in Makati, Metro Manila, Philippines.
Project Cost Including proposed IFC investment
Total project cost or fund size is expected to be around US$40 to US$50 million. IFC’s proposed investment is US$7.5 million in equity.
Location of project and Description of site
Makati, Metro Manila, Philippines
Description of Company and Purpose of Project
(include IFC’s Role and Development Impact)
The proposed project will be H&QPI’s third venture capital fund under management, and will have an expected life of 10 years. H&QPV3 will invest equity in private SMEs and diversify its investments to include SMEs located outside of the Metro Manila region, specifically Mindanao.
IFC has played a key role in structuring the proposed fund and convincing H&QPI to adopt international best practices. The project will provide much needed long term equity financing to Philippine SMEs and will help develop the Philippine equity capital markets as the SMEs eventually become publicly listed on the Manila Stock Exchange.
Environmental Category and Issues
This is a Financial Intermediary (FI) project according to IFC’s Environmental review procedure. H&QPI will be required to undertake an environmental review of eligible investee company’s environmental performance and each investee company’s compliance with the Republic of Philippines’ environmental, health and safety laws, regulations and standards as well as applicable World Bank policies and guidelines. During implementation of the project, IFC’s Environmental Division must review and clear all environment category A investee companies. In addition, IFC will also assess H&QPI’s capability to carry out environmental reviews on each investee company.
| Date SPI sent to PIC | October 16, 1997 |
“This Summary of Project Information is prepared and distributed to the public in advance of consideration of the proposed transaction by the Corporation’s Board of Directors. It is provided for the purpose of enhancing the transparency of IFC’s activities and should not be construed as presuming the outcome of IFC Board consideration.”
For Additional Information contact: Corporate Relations Unit -
telephone: (202) 473-7711
facsimile: (202) 974-4384
Sponsor / Cost / Location
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