IIC Participates In Investment Fund To Support The Development Of Small And Medium-Size Companies
12/28/1999Investment will benefit several economic sectors in the region WASHINGTON, D.C. — On December 15, 1999, the Board of Directors of the Inter-American Investment Corporation (IIC) approved an equity investment of up to $10 million in Compass Capital Fund, L.P., a private equity fund created to invest in Latin American companies. The fund's objective is to invest in such service industries as retail, distribution, entertainment, business services, logistics and transportation, information and technology, healthcare, and telecommunications.
The funding from the IIC will provide long-term capital support to small and medium-size enterprises. Compass Capital Fund investments will reach several economic sectors, as well as different countries in the region. Given its diversification strategy, the fund will have a catalytic effect by attracting other institutional investors and facilitating the flow of capital to the region.
The fund is expected to make at least twelve investments over its expected eight-year life, contribute to the creation of approximately 360 jobs, generate over $25 million per year in export earnings, and contribute about $100 million per year to the region’s GDP.
Contact: Steven Reed
Telephone: (202) 623-3981