Próspero Microfinanzas Fund, LP
Last updated 13 May 2020, by Impactyield.
Emerging countries (256) / Latin America and the Caribbean (38)
Próspero Microfinanzas Fund, L.P. is a Cayman Islands exempted limited partnership formed for the purpose of making equity and equity-like investments in early and intermediate stage microfinance institutions in Latin America and the Caribbean to provide a competitive financial return to its investors, in addition to creating a positive social impact.
Próspero provides investors with diversification of geography, currency, and stage. The fund will make direct investments across Latin America and the Caribbean (LAC), with country and institution investment limits, in 8-10 emerging and early stage MFIs - the market segment where microfinance social and financial value creation can be maximized. The in-region investment team has extensive investment experience in target markets and will focus on identifying investments at attractive entry prices and creating value over the holding period. The fund targets a market rate of return.
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Key performance indicators
Asset manager: Próspero Microfinanzas Fund, LP
Product track record: Fund has 13 years of track record
Target IRR: 18%
Committed Capital: 15,400,000 USD (US Dollar)
Target return category: Risk-adjusted market-rate of return
Fund domicile: Cayman Islands
Product status: Open - post first close
Style/Stage: Early Stage, Growth Stage
Inception year: 2010
Vintage year: n.a.
Target region: Emerging countries, Latin America and the Caribbean
Target close date: 01/09/2011
Product term: 7 year plus 2 year extension
Assets under management: 30,000,000 USD (US Dollar)
Investment size: Min: 500,000; Max: 3,000,000; Avg: 1,500,000
Co-investment policy: LPs have priority, With LPs and non-LPs
Currency of investments: USD (US Dollar)
Currency for fund / product figures: USD (US Dollar)
Fund investments to date: 0
Fund investments to date exited or repaid: 0
Management fee: n.a.
Carried interest: n.a.
Hurdle rate: n.a.
GIIN Investors' Council Investment: Yes
Limited Partners / Investors: n.a.
Limited Partner / Investor Type: Development Finance Institution (DFI), Family Office, Other Institutional Investors
Phone number: 59122113237.00
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Prospero is committed to contributing towards a positive social impact on microfinance clients through its portfolio investments. The fund plans to achieve its social objectives by (a) emphasizing investment in microfinance institutions (MFIs) dedicated to serving the less penetrated microfinance markets (e.g., New Generation or Intermediate MFIs that reach the unbanked or under-served); (b) working with investee MFIs to enhance their social performance; and (c) working with MFIs to improve their ability to measure and report on social performance.
Prospero has committed to the Smart Campaign's Client Protection Principles and reporting on social performance, including MIX Market and other industry standards. Prospero will also be a Pioneer GIIRS-rated fund in the next stage of the GIIRS roll-out.