Multinational Industrial Fund

For inquiries and comments to IIC, contact:
IIC’s Communications Group
E-mail: divulgacionpublica@iadb.org

For project inquiries, including environmental and social questions related to an IIC investment, please contact the client or the IIC using the contact information provided above. In addition, project affected communities have access to the IIC Independent Consultation and Investigation Mechanism.
Tel:+1 (202) 623-3952
Fax: +1 (202) 312-4057
Address: 1300 New York Ave. NW Washington, DC. USA. 20577
E-mail: mecanismo@iadb.org or MICI@iadb.org

Project Number: 
ME1137A-01
Expected Consideration Date by the Board: 
05/04/2000
Date Posted: 
03/02/2000
Company: 
Wamex, S.A.
Financing Requested: 
Sector: 
Financial Services
Location: 
Country: 
Scope Objective: 
Multinational Industrial Fund is a US$80 million Mexican private equity fund that will seek to earn long-term capital gains by investing in equity and quasi-equity securities of small and medium-sized Mexican companies entering into joint ventures with foreign companies to generate exports. The Fund will have a life of ten years.

The proposed transaction is in line with IICs developmental goals, since (i) the Fund will support the creation and expansion of small and medium-scale enterprises in Mexico without access to equity capital; (ii) it will support private investment to create joint ventures of local firms with European firms to transfer technology and promote export sales; (iii) through stock market exit it will foster democratization of capital; and (iv) the Fund will reach some fifteen final beneficiaries over its expected life; creating about 300 jobs, and contributing US$300 million to the country's GDP.
Environmental Review: 
This is a category III project according to IIC's environmental review procedures. Each investee company must comply with the environmental laws, regulations, and standards of the respective eligible jurisdictions, as well as with applicable IIC environmental policies. Each company must also be in compliance with all the occupational health, labor, and safety laws and regulations of the eligible jurisdictions. Certification will be required that investee companies sponsored by a general partner will meet all applicable laws, regulations, and policies regarding the environment and occupational health and safety.