ADB to Place $25m in Equity in Exacta Asia Investment II for Loans to SMEs in ASEAN Region

November 14th, 2018 – The Asian Development Bank (ADB) recently agreed to make an equity investment of USD 25 million into Exacta Asia Investment II LP, a private equity fund, to support its lending to small and medium-sized enterprises (SMEs) in Southeast Asia, particularly in Indonesia, Malaysia, Philippines, Singapore, Thailand and Vietnam. The investment is intended to “address the issues of low private equity penetration in Southeast Asia…to create new jobs, drive economic growth, and encourage further investments in related sectors.” Exacta II invests in SMEs in the manufacturing, technology and service sectors. The fund achieved its first close in 2017 at a volume of USD 180 million, including USD 89 million from Japan’s Mizuho Bank. the fund has a total target size of USD 250 million.

ADB was established in 1966 and is based in the Philippines. Its goal is to eradicate poverty in the Asia-Pacific region. ADB is owned by 67 countries, of which 48 are located in the region. For 2017, the organization had a total budget of USD 32.2 billion, including USD 11.9 billion in co-financing.

Written by Micro Capital

https://www.microcapital.org/microcapital-brief-adb-to-place-25m-in-equity-in-exacta-asia-investment-ii-for-loans-to-smes-in-asean-region/