LAVCA | The Association for Private Capital Investment in Latin America
  • About
    • About LAVCA
    • Board, Team, & Advisors
    • Media
    • Contact
  • Members
    • Membership Benefits
    • Current Members
    • Member Access
  • Education & Programs
    • About
    • LAVCA Week
    • Calendar & Past Programs
    • LAVCA Education
  • Research & Directories
    • LAVCA Research
    • Industry data
    • LP Survey
    • Directories
  • ESG & Impact
    • Deal Book
    • LAVCA ESG Deal Awards
    • Impact Report
    • ESG Guidelines
  • Articles
    • Featured Articles
    • Industry News
  • VC
  • Member Login
  • Member Access

LAVCA | The Association for Private Capital Investment in Latin America

A non-profit member organization

  • About
    • About LAVCA
    • Board, Team, & Advisors
    • Media
    • Contact
  • Members
    • Membership Benefits
    • Current Members
    • Member Access
  • Education & Programs
    • About
    • LAVCA Week
    • Calendar & Past Programs
    • LAVCA Education
  • Research & Directories
    • LAVCA Research
    • Industry data
    • LP Survey
    • Directories
  • ESG & Impact
    • Deal Book
    • LAVCA ESG Deal Awards
    • Impact Report
    • ESG Guidelines
  • Articles
    • Featured Articles
    • Industry News
  • VC

OPIC Approves US$50m to Invest in Avenida Colombia Real Estate Fund

15 June 2017

OPIC will provide up to US$50m in financing for the Avenida Colombia Real Estate Fund II LP, a private equity fund that invests in real estate projects for Colombia’s low and middle income populations.

(PE Hub) The Overseas Private Investment Corporation has approved US$488m that will be used to invest in developing markets in Colombia, India and Indonesia in the financial service, housing and energy sectors. Included in the financing is up to $50 million for the Avenida Colombia Real Estate Fund II LP, a private equity fund that invests in real estate projects for Colombia’s low and middle income populations. Founded in 1971, OPIC is a Washington, D.C.-based U.S. government agency that helps American businesses invest in emerging markets.

WASHINGTON – The Board of Directors of the Overseas Private Investment Corporation (OPIC) today approved US$488m in new financing to support four private sector-led projects that will invest in developing markets in Colombia, India, and Indonesia in the financial service, housing, and energy sectors.

The board of directors’ approval for OPIC support included:

Up to $50 million in financing to Avenida Colombia Real Estate Fund II, L.P., managed by U.S. fund manager Avenida Partners LLC. This private equity fund invests into real estate projects for Colombia’s low and middle income populations. OPIC financing will support the fund’s portfolio investments in residential, retail, and mixed-use real estate projects in urban areas of Colombia, furthering the development of sustainable communities that benefit underserved populations.

Up to $243 million in financing to Banco Davivienda S.A. to expand access to mortgages for low-income home buyers in Colombia. Insufficient housing is a chronic problem in Colombia. This project will help expand the access to financing needed to purchase homes and help Banco Davivienda increase lending to low-income home buyers.

Up to $120 million in financing to PT Energi Bayu Jeneponto to support construction of a 72 MW wind farm in Indonesia. Indonesia’s generation capacity growth has been unable to keep pace with its electricity demand, leading to power shortages and constraining economic growth. With OPIC financing, PT Energi Bayu Jeneponto will help meet this growing electricity demand and strengthen Indonesia’s energy security by diversifying the country’s generation mix.

Up to $75 million in financing from OPIC and up to $75 million in syndicated financing jointly arranged by Wells Fargo Bank and OPIC to support growth of Yes Bank Limited’s lending programs for SMEs throughout India. Yes Bank will allocate $50 million for loans to women-owned SMEs and an additional $50 million for loans to SMEs in India’s lower income states. Access to finance remains a significant constraint for Indian SMEs, causing the majority of SMEs to rely on self-financing in order to grow. With this facility, OPIC expects to achieve its 2015 pledge to mobilize $1 billion in loans for small and medium businesses across India.

The Overseas Private Investment Corporation (OPIC) is a self-sustaining U.S. Government agency that helps American businesses invest in emerging markets. Established in 1971, OPIC provides businesses with the tools to manage the risks associated with foreign direct investment, fosters economic development in emerging market countries, and advances U.S. foreign policy and national security priorities. OPIC helps American businesses gain footholds in new markets, catalyzes new revenues and contributes to jobs and growth opportunities both at home and abroad. OPIC fulfills its mission by providing businesses with financing, political risk insurance, advocacy and by partnering with private equity investment fund managers.

OPIC services are available to new and expanding businesses planning to invest in more than 160 countries worldwide. Because OPIC charges market-based fees for its products, it operates on a self-sustaining basis at no net cost to taxpayers. All OPIC projects must adhere to best international practices and cannot cause job loss in the United States.

OPIC Approves US$50m to Invest in Avenida Colombia Real Estate Fund was last modified: June 20th, 2017 by Editor
ColombiaIndiaIndonesiaOPICReal Estate
0
Facebook Twitter Google +

Tech Growth Membership

The 2023 LAVCA Startup Founders Survey is made possible thanks to the support of LAVCA’s Tech Growth Membership, a group of leading tech companies and investors advancing the tech ecosystem in Latin America including AWS, Mercado Libre, Microsoft, Qualcomm Ventures, SVB, Riverwood Capital, Google and Movile.

VC Partner Events

    Tweets

    Missing consumer key - please check your settings in admin > Settings > Twitter Feed Auth

    Submit VC News

    Have private equity or venture capital related news that you would like to share? Submit your press releases and news to [email protected].

    VC Industry News

    • Valor Capital Group and NFX Co-Lead USD9.3m Series A for Brazil’s Praso

      30 August 2023
    • EQT Growth Leads USD85m Series F for Brazil’s Gympass at USD2.2b Valuation

      23 August 2023
    • Tiger Global Leads USD61m Series B for Brazil’s Nomad 

      22 August 2023
    • NASZCA and IDB Invest Lead USD15.5m Series A for Mexico’s Wonder Brands

      17 August 2023
    • Victory Park Capital Provides USD100m Credit Facility for Mexico’s Klar

      15 August 2023
    • General Catalyst Lead USD45m Series B for Brazil’s Tractian

      7 August 2023
    • General Catalyst Leads USD45m Round for Brazil’s Tractian

      7 August 2023
    • ADQ Provides USD100m In Convertible Debt to Brazil’s Loft

      2 August 2023
    • Danish SDG Investment Fund Leads USD31.5m Series C for Mexico’s Bright  

      27 July 2023
    • Colombia’s Foodology Raises USD17m from Andreessen Horowitz, 30N Ventures and Chimera

      19 July 2023

    About LAVCA

     

    LAVCA is the Association for Private Capital Investment in Latin America, a not-for-profit membership organization dedicated to supporting the growth of private capital in Latin America and the Caribbean through research, education, networking and advocacy.

    LAVCA Office

        New York City:
        589 8th Ave, 18th Floor
        New York, NY 10018

    Explore LAVCA.org

    • About LAVCA
    • Board, Team, & Advisors
    • Media
    • Contact Us
    • Membership Benefits
    • Members Only Access
    • Education and Programs
    • Research
    • Policy
    • LAVCA VC
    • Contact Us

    @2020 - LAVCA. All Rights Reserved.


    Back To Top