fbpx 53184-001: Everbridge Partners Fund I, L.P. | Asian Development Bank

Regional: Everbridge Partners Fund I, L.P.

Nonsovereign (Private) Project | 53184-001 Status: Approved

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.

Project Details

Project Officer
Conti, Davide Request for information
Country
  • Regional
Sector
  • Finance
 
Project Name Everbridge Partners Fund I, L.P.
Project Number 53184-001
Borrower/Company Everbridge Partners Fund I, L.P.
Country Regional
India
Indonesia
Malaysia
Philippines
China, People's Republic of
Thailand
Location China - Nation-wide; India - Nation-wide; Indonesia - Nation-wide; Malaysia - Nation-wide; Philippines - Nation-wide; Thailand - Nation-wide
Type or Modality of Assistance
Equity Ordinary capital resources USD 40.00 million Approved
Strategic Agendas Inclusive economic growth
Regional integration
Drivers of Change Partnerships
Private sector development
Sector / Subsector

Finance / Finance sector development

Gender Equity and Mainstreaming Some gender elements
Responsible ADB Department
Responsible ADB Division
Responsible ADB Officer Conti, Davide
Project Sponsor(s)
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.
Safeguard Categories
Environment FI
Involuntary Resettlement FI
Indigenous Peoples FI
Summary of Environmental and Social Aspects
Environmental Aspects
Involuntary Resettlement
Indigenous Peoples
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

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