Project Data Sheet
Project 39922-014
Project Data Sheet
Project 39922-014
| Project Name | BTS INDIA PRIVATE EQUITY FUND | ||||
| Project Number | 39922-014 | ||||
| Borrower / Company | BTS INDIA PRIVATE EQUITY FUND |
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| Country / Economy | India |
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| Location | |||||
| Type or Modality of Assistance |
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| Strategic Agendas | Inclusive economic growth |
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| Drivers of Change | Private sector development |
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| Sector / Subsector | Finance / Infrastructure finance and investment funds |
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| Gender | |||||
| Responsible ADB Department | Private Sector Operations Department | ||||
| Responsible ADB Division | Capital Markets and Financial Sectors Division | ||||
| Responsible ADB Officer | Brett, S. Jane | ||||
| Project Sponsor(s) | |||||
| Description | BTS India Private Equity Fund (the Fund) was launched on June 2006. It provided expansion financing to small and medium-sized enterprises (SMEs) in India. | ||||
| Objectives and Scope | The primary objective of the Fund is to catalyze foreign and domestic investment into long-term equity finance for Indian SMEs. There exists a gap in the long-term equity finance for SMEs in India because foreign direct investment is targeted directly at local subsidiaries of multinational corporations, while other equity investors focuse on short-term investments in publicly listed companies. ADB serves a catalytic role in attracting long term investment to India by this intervention. | ||||
| Status of Development Objectives | The Fund intends to (i) mobilize long-term capital in the form of private equity for SMEs in India to finance expansion and productivity improvement; (ii) diversify the sources of finance available for SMEs; (iii) provide management advice to SMEs; (iv) create sustainable employment in India through the Fund's investee companies; (v) stimulate private sector development to serve as vehicle for the country's long-term economic growth and stability; and (vi) contribute to the development of a well functioning regulatory and legal environment in India. | ||||
| Linkage to Country/Regional Strategy | ADB's country strategy and program (CSP) 2003 2006 for India states that the private sector has a leading role to play in achieving growth targets. ADB's strategy focuses on promoting an enabling environment for private sector development through (i) financial sector interventions to improve financial intermediation and resource mobilization; (ii) policy reforms to remove impediments to private investment, both domestic and foreign; (iii) investment in public infrastructure, which would also facilitate private investment; (iv) public-private partnerships; and (v) investments in private sector projects. ADB's investment in this project will directly contribute to resource mobilization and improved financial intermediation and investment in private sector projects. |
| Safeguard Categories | |
|---|---|
| Environment | FI |
| Involuntary Resettlement | C |
| Indigenous Peoples | C |
| Summary of Environmental and Social Aspects | |
|---|---|
| Environmental Aspects | The Fund's investee companies complies with national environmental laws, regulations, and ADB's environmental and social safeguard policies; or agree to adopt a program to comply with such standards. |
| Involuntary Resettlement | |
| Indigenous Peoples | |
| Stakeholder Communication, Participation, and Consultation | |
| Timetable for assistance design, processing and implementation | |
|---|---|
| Concept Clearance | 02 Aug 2005 |
| Credit Committee Meeting | 25 Oct 2005 |
| Approval | 23 Nov 2005 |
| PDS Creation Date | 01 Sep 2006 |
| Last PDS Update | 24 Sep 2014 |