Company name

XLC Administradora General de Fondos S.A.

Project number

13606-01

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

Chile

Sector

Financial Institutions

Status

Proposed

Disclosed date

10/25/2021

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

Projected board date
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12/14/2021

Approval date

12/14/2021

Signed date

N/A

Sponsoring entity

N/A

Team leader

Soares, Tatiana Fontes

Investment type

Syndicated amount

N/A

Financing amount

USD $ 30,000,000

Currency

USD

Project scope and objective

IDB Invest is considering an investment of up to US$30 million in senior, US dollar-denominated quotas of the XLC Private Debt Fintech Investment Fund (the “Fund”), which is managed by XLC Administradora General de Fondos S.A. (the “Fund Manager”). The Fund’s main objective is to invest in invoices and other private debt instruments originated by X Capital SpA (“Xepelin”), a fintech company specialized in providing financial services to small and medium-sized enterprises (“SMEs”).

 

The development goal of the investment is to support access to financing for Chilean SMEs. IDB Invest's participation will allow the Fund to reach enough scale to effectively execute its investment strategy.

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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. Any gaps with respect to the IDB Invest Sustainability Policy at the time of the ESDD are addressed in the Environmental and Social Action Plan (ESAP) provided below.

ESRS XLC 13606-01

133.1 Kb

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Contact information

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Request information

Alternatively, you may also use the following contact information:

Client Contact

CONTACT NAME

Rodrigo Nader

POSITION

CEO

PHONE NUMBER

+56223075700

EMAIL

rn@excelcapital.com

IDB Invest Contact

EMAIL

requestinformation@idbinvest.org

PHONE

+1(202)-566-4566

ADDRESS

1350 New York Ave NW, Washington, DC 20005

COUNTRY OFFICES

IDB Invest Country Offices