Apr 12, 2014 (LBO) – International Finance Corporation, a World Bank arm said it will invest 10 million US dollars in Emerald Sri Lanka Fund I, a 50 million US dollar private equity fund focused on the island. The fund will be run NDB Zephyr Partners, a joint venture between by New York based Zephyr Management and Colombo base NDB Bank group.
Emerald Sri Lanka Fund I Limited will invest in small and mid-sized businesses seeking growth.
“The Fund will take significant minority stakes in 10-12 well run companies,” IFC said in a disclosure.
“The Fund will add value by providing support and expertise on capital structures, financial reporting, business development, management development, corporate governance, strategy etc. to the portfolio companies.”