Regional: Everbridge Partners Fund I, L.P.
An equity investment of up to $40 million in Everbridge Partners Fund I, L.P. (_Everbridge I_, _Fund I_), a targeted $750 million private equity fund focused on investing in growth stage opportunities in mid-market companies operating in the healthcare, business services, and consumer sectors primarily in People's Republic of China (PRC), India and Southeast Asia.
Private Sector Operations Department
Request for information
22 October 2019
|Project Name||Everbridge Partners Fund I, L.P.|
|Borrower/Company||Everbridge Partners Fund I, L.P.
China, People's Republic of
|Location||China - Nation-wide; India - Nation-wide; Indonesia - Nation-wide; Malaysia - Nation-wide; Philippines - Nation-wide; Thailand - Nation-wide|
|Type or Modality of Assistance||
|Strategic Agendas||Inclusive economic growth
|Drivers of Change||Partnerships
Private sector development
|Sector / Subsector||
Finance / Finance sector development
|Gender Equity and Mainstreaming||Some gender elements|
|Responsible ADB Department||Private Sector Operations Department|
|Responsible ADB Division||Private Sector Investment Funds & Special Initiatives Div|
|Responsible ADB Officer||Conti, Davide|
|Description||An equity investment of up to $40 million in Everbridge Partners Fund I, L.P. (_Everbridge I_, _Fund I_), a targeted $750 million private equity fund focused on investing in growth stage opportunities in mid-market companies operating in the healthcare, business services, and consumer sectors primarily in People's Republic of China (PRC), India and Southeast Asia.|
|Objectives and Scope||The proposed investment in Everbridge I will provide growth capital to about ten middle-market companies operating primarily in the health care, business services, and consumer sectors, in India, the People's Republic of China (PRC), and Southeast Asia (Indonesia, Malaysia, the Philippines, and Thailand). These companies often lack access to affordable capital because equity financing is generally limited and traditional bank financing is difficult to source without hard assets that can be pledged as collateral. Furthermore, many companies in emerging Asia need improved professional management to scale up their operations. The proposed investment by the Asian Development Bank (ADB) in Everbridge I would help deepen capital markets and support Asia's growing private sector.|
|Linkage to Country/Regional Strategy||The proposed investment in Everbridge I aligns strongly with two operational priorities outlined in ADB's Strategy 2030. These include (i) addressing remaining poverty and reducing inequalities by generating quality jobs, improving education, and achieving better health for all; and (ii) fostering regional cooperation and integration by enhancing connectivity and strengthening finance sector cooperation. ADB's Strategy 2030 also aims to expand private sector operations to support its operational priorities by (i) expanding regional reach through private equity funds, (ii) strengthening the finance sector and capital markets, and (iii) widening geographic coverage. Given its track record with Capital Group Private Markets, Everbridge is uniquely positioned to deliver on ADB's Strategy 2030 themes through investments such as Go-Jek, which promotes regional cooperation and integration, and Innovent Biologics and Mankind Pharma, which deliver high-quality health care products and services.|
|Summary of Environmental and Social Aspects|
|Stakeholder Communication, Participation, and Consultation|
|Timetable for assistance design, processing and implementation|
|Concept Clearance||14 Jun 2019|
|Credit Committee Meeting||19 Sep 2019|
|Approval||22 Oct 2019|
|Last PDS Update||22 Oct 2019|
Project Data Sheets (PDS) contain summary information on the project or program. Because the PDS is a work in progress, some information may not be included in its initial version but will be added as it becomes available. Information about proposed projects is tentative and indicative.
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|Title||Document Type||Document Date|
|Everbridge Partners Fund I, L.P: Report and Recommendation of the President||Reports and Recommendations of the President||Sep 2019|
|Everbridge Partners Fund I, L.P: Initial Poverty and Social Analysis||Initial Poverty and Social Analysis||Jul 2019|
Safeguard Documents See also: Safeguards
Safeguard documents provided at the time of project/facility approval may also be found in the list of linked documents provided with the Report and Recommendation of the President.
None currently available.
Evaluation Documents See also: Independent Evaluation
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