📋 Tender Overview
Project Number: 49178
Company Name: PCF III (Cayman) L.P.
Date SPI Disclosed: May 1, 2024
Country: Caribbean Region
Region: Central America and the Caribbean, Colombia, Mexico
Projected Board Date: May 31, 2024
Environmental Category: FI-2
Status: Pending Approval
Department: Disruptive Technologies and Funds
Industry: Funds
Sector: Growth Equity Fund
Project Description
The proposed investment is for up to US$15 million, capped at 20% of total commitments into PCF III (Cayman) L.P. ( Portland III or the Fund ), a growth equity fund targeting US$350 million in commitments to make mid-market investments primarily in the Caribbean Region. The Fund is managed by Portland Private Equity ( Portland or the Fund Manager ).
Portland III will seek to take minority stakes in 10-12 investments with ticket sizes ranging from US$15 million to US$30 million and will seek to deploy at least 80 of its invested capital in the Caribbean with the balance split between. Colombia, Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua or Panama. The Fund will focus on investing in the following themes and sectors: (i) Scalable Services Business includes financial services, tourism (food and hospitality), data centers and internet service business; (ii) Communications cable networks, communication towers, internet and mobile networks; (iii) Essential Services hard assets that serve as backbone for essential products and services such as renewable energy and digital transformation providers; (iv) Agribusiness investments could be made all across the agribusiness supply chain.
Total Project Cost and amount and nature of IFC's Investment: The Fund is seeking to raise US$350 million. IFC has proposed a total equity investment of up to US$15 million, capped at 20% of total commitments.
Financing Sources:
2) World Bank (WB)
1818 H Street, NW Washington,
DC 20433 USA
Tel : (202) 473-1000
https://www.worldbank.org/
