The International Finance Corporation (IFC) has strengthened its longstanding relationship with Everstone Group by investing $60 million in Everstone Capital Partners V (Fund V), the company's newest private equity fund.
Key Highlights
- IFC invested $60 million in Everstone Capital’s Fund V to support mid-market companies across South Asia.
- The investment aims to promote sustainable growth, job creation, and private sector development in emerging markets.
The investment demonstrates IFC's ongoing faith in Everstone's plan to support mid-market companies in Southeast Asia and India. High-growth industries like healthcare, technology, consumer goods, and financial services will be the main emphasis of Fund V.
After committing $50 million to Funds III and IV and co-investing $10 million in the SaaS startup Wingify, this is IFC's third consecutive investment with Everstone.
Sameer Sain, co-founder and CEO of Everstone Group, stated, "Together, we are building businesses that not only generate strong returns but also advance innovation, inclusion, quality job creation, and energy transition across emerging markets."
In addition to providing funding, IFC has assisted Everstone in fortifying its ESG framework by implementing IFC's Performance Standards, which strengthens the company's emphasis on rigorous risk management and sustainable wealth creation.
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The private equity division of Everstone Group, Everstone Capital, specializes in mid-market, control-oriented investments in consumer, financial services, healthcare and pharmaceutical, technology, and industrial sectors.
