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Company name

Mountain Nazca

Project number

14564-01

FI-3 operations are those where the risk potential is considered low: the FI’s current or future portfolio consists of financial exposure to business activities that predominantly have minimal or no adverse environmental and social impacts.

E&S category
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FI-3

Country

Regional

Sector

Investment Funds

Status

In implementation

Disclosed date

06/07/2023

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

Projected board date
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09/05/2023

Approval date

07/28/2023

Signed date

10/12/2023

Sponsoring entity

N/A

Investment Operations Department Contact

Portfolio Management Division

Investment type

Syndicated amount

N/A

Financing amount

USD $ 5,000,000

Currency

USD

Project scope and objective

The Project consists in an equity investment of up to USD 5 million in Nazca C-Fund I, LP (“Nazca LAC Digital Growth Fund” or the “Fund”), a new regional venture capital growth fund aimed at investing in the most notable high-performing digital-based companies of Nazca Fund I and Fund II to support their high growth potential across Latin America and the Caribbean (LAC).

The Fund is incorporated in Canada and is managed by Nazca C-Fund I GP, LLC (“Nazca” or the “Fund Manager”). Established in 2014, Nazca is one of the most active Mexican venture capital (VC) firms in LAC. As of Q4 2022, Nazca successfully raised USD 227 million and invested USD 100 million in three funds with a MOIC of 1.98 (current NAV of USD 195 million).

The Fund will invest in successful expanding companies requiring more capital than the one available in Nazca’s initial funds. The Fund will provide capital to young, innovative and fast-growing firms across the region. Thus, it will contribute to job creation, increased productivity and, finally, economic growth. The Project is also expected to enable technology transfers and contribute to improving the development of the Mexican and regional innovation ecosystem.

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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.

NAZCA LAC DIGITAL GROWTH FUND 14564-01 RG ENVIRONMENTAL AND SOCIAL REVIEW ESRS

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Contact information

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Alternatively, you may also use the following contact information :

Client Contact

EMAIL

ana@nazca.vc

PHONE NUMBER

+52 5589023919

POST OFFICE ADDRESS

IDB Invest Contact

EMAIL

requestinformation@idbinvest.org

PHONE

+1(202)-566-4566

ADDRESS

1350 New York Ave NW, Washington, DC 20005

For inquiries, comments and information requests about the project

Request information

Learn more about how we provide private-sector solutions in the region .