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Company name

Alta Growth Capital S.C.

Project number

12614-01

FI-2 operations are those where the risk potential is considered medium: the FI’s current or future portfolio consists of or is expected to consist of, business activities that have potential limited adverse environmental or social risks or impacts that are few in number, generally site-specific, largely reversible, and readily addressed through mitigation measures; or includes a very limited number of business activities with potential adverse environmental or social risks or impacts that are diverse, irreversible, or unprecedented.

E&S category
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FI-2

Country

Mexico

Sector

Investment Funds

Status

In implementation

Disclosed date

04/25/2019

Projected date at which a project will be put forward for the Board of Executive Directors’ approval.

Projected board date
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06/18/2019

Approval date

03/10/2020

Signed date

06/26/2020

Sponsoring entity

N/A

Investment Operations Department Contact

N/A

Investment type

Syndicated amount

N/A

Financing amount

USD $ 10,300,000

Currency

USD

Project scope and objective

IDB Invest is considering an equity investment of up to US$10.8 million in Alta Growth Capital Fund III, L.P. (“Alta Growth Capital” or the “Fund”) in Mexico. IDB Invest’s participation will allow the Fund to achieve the scalability necessary to effectively execute its investment strategy and achieve its target size of US$250 million. IDB Invest’s participation will increase the availability of private capital for medium-sized enterprises in Mexico, which will help to increase the country’s competitiveness and economic growth. The Fund will invest up to 20% of its commitment in other Latin American countries. The Fund will mainly acquire minority stakes with defined exit strategies. The Fund Manager is Alta Growth Capital S.C., a local investment management company with broad experience and a successful track record in private capital investment in Mexico. The Fund’s investors include the Deutsche Investitions- und Entwicklungsgesellschaft (“DEG”, German development bank), the International Finance Corporation (“IFC”), and Fondo de Fondos.

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Environmental and social review

IDB Invest conducts an environmental and social due diligence (ESDD) commensurate with the nature, scale, and stage of the project, and with its level of environmental and social risks and impacts. The ESDD will confirm the project E&S categorization and assess the project with respect to the client requirements in IDB Invest Environmental and Social Sustainability Policy. The results of the ESDD, including any identified gaps are described in the Environmental and Social Review Summary (ESRS) provided below. For projects approved as of 2016, any gaps with respect to IDB Invest's Environmental and Social Sustainability Policy at the time of the ESDD are addressed in the Environmental and Social Action Plan (ESAP) presented below, to comply with the date mentioned above.

ENVIRONMENTAL AND SOCIAL REVIEW

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Contact information

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Alternatively, you may also use the following contact information :

Client Contact

EMAIL

N/A

PHONE NUMBER

N/A

POST OFFICE ADDRESS

N/A

IDB Invest Contact

EMAIL

requestinformation@idbinvest.org

PHONE

+1(202)-566-4566

ADDRESS

1350 New York Ave NW, Washington, DC 20005

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