Portland Private Equity II, Ltd.
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.
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
de Beaufort, Lucas
USD $ 3,000,000
USD $ 7,000,000
Project scope and objective
IDB Invest is considering an equity investment of up to US$10 million in Portland Caribbean Fund III (“Portland III” or “the Fund”) (inclusive of seeking a US$3 million Blended Finance equity participation with resources from IDB Invest’s administered funds) that Portland Private Equity (“Portland” or the “Fund Manager”) is raising. This multisector fund has a US$150-200 million target focused on medium‑sized companies in the Caribbean basin. As a pioneer investor in the Caribbean with a strong sustainability practice, Portland is one of IDB Invest’s strategic partners in the region, based on extensive experience and a deep regional network. IDB Invest is an existing investor in and lender to Portland’s prior fund, which is currently divesting.
Portland III is committed to making social investments by providing funding for gender responsive businesses as per 2X Challenge criteria. Additionally, the Fund aims to contribute to the United Nations’ Sustainable Development Goals (“SDGs”), with a focus on the following SDGs: gender equality and reduced inequalities (SDG 5 and SDG 10); decent work and quality jobs (SDG 8); industry, innovation, and infrastructure (SDG 9); responsible consumption and production (SDG 12); and climate action (SDG 13). Additional SDGs will be supported through Portland III’s overall environmental and social program.
IDB Invest would provide Climate Technical Assistance. IDB Invest’s relatively small participation would have a strong catalytic effect, triggering an increased Fund Manager commitment and allowing the Fund to reach its minimum US$100 million first closing.
 Entrepreneurship – 51% women ownership or the business is founded by a woman. Leadership – 30% women in senior leadership or 30% women on the Board or Investment Committee
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IDB Invest Contact
1350 New York Ave NW, Washington, DC 20005