Aloe 'to count IFC among LPs' in third fund
International Finance Corp. (IFC), the investment arm of the World Bank, is reportedly poised to join the LP roster for Aloe Private Equity's its third fund, Aloe Environment Fund III.
IFC is planning to provide the vehicle with $25 million in equity - the equivalent of up to 20% of the fund's total commitments, according to VC Circle.
Aloe's Fund III has a target of $265-$400 million, at least 80% of which will be invested in India, China and IFC's mandated countries in Asia. All portfolio companies will be engaged in activities which help to sustain the environment, and will either be based in developing nations in Asia or planning to expand into these areas.
This latest vehicle is a successor to the Aloe's first two environmental funds, and to the Green Investment Asia Sustainable Fund Environment Fund I, which ran parallel to Aloe Environment Fund II.
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