IDB to Loan to Social Venture Group

The IDB has approved a $25m loan to venture capital firm IGNIA Partners, the first time it has lent to such an entity. The Mexican firm invests in projects serving low-income individuals with basic housing, health care and other needs, and aims to invest up to $100m in eight to 12 growth companies in LatAm and the Caribbean. In addition to the loan, the IDB’s Multilateral Investment Fund will be considering a $5m equity stake in the IGNIA Fund I. The Fund closed last week at $20.6m, with a second close expected this summer as it targets $50m-$75m.