Investing in the Navegar II fund to develop midcaps or SMEs in the Philippines
Philippines
The Navegar II fund will invest in midcaps or SMEs operating in health, education or the production of goods and services in the Philippines.
Client presentation
Navegar is the first management team put together in the country. It was set up in 2012 by the Philippine duo Honorio Poblador & Javier Infante thanks to support from the Swedish asset manager Patrik Brummer. Building on an initial investment experience via Navegar I (raised in 2013 with IFC, DEG, FMO, SMBC and Swedish and Philippine family offices), Navegar launched a successor fund whose first closing (USD 130m) was able to count on the renewed confidence of all the investors in the first fund.
Project description
With an expected total size of USD 175m, Navegar II should be making 6 to 8 investments in first generation midcaps or SMEs facing issues of:
- shareholder transition or management succession,
- professionalization: environmental, social or governance,
- scaling up and expansion in a territory which has over 2,000 islands inhabited by more than 100 million people over a surface area of 300,000 km2 and where there are major social disparities.
The fund will target sectors such as health, education, logistics and the production of goods and services that meet everyday consumption needs.
Project impact
This second fund should support over 15,000 indirect jobs in the companies the fund will invest in, 50% of which should be held by women. The project should contribute to SDG 8 (Decent work and economic growth), SDG 3 (Health and well-being) and SDG 4 (Quality education), depending on the investments that will be made.
This information is given at the time of signature, without prejudice to any developments in the operation/project
08/12/2019
Date of signature of the project
Sectors
Philippines
Location
13 500 000
Euros
Amount of funding
USD 15m Equity investment
Navegar II LP
Cayman Islands
PPH1007
CES