CoreCo Central America Fund I LP

Equity : June 2012

BIO has invested USD 4 M in equity in the CoreCo Central America Fund I LP, a PE fund focused on SMEs in Central America.

Amount

€ 3,210,320.00

Type of investment

Equity

Development impacts

  • Local economic growth

Beneficiary locations

Latin America and Caribbean: Dominican Republic, El Salvador, Guatemala, Honduras, Nicaragua

Investment field

Investment Companies & Funds

Activity

SME Fund

Organisation

CoreCo Central America Fund I LP

Domicile

Florida, United States

CoreCo Central America Fund I L.P. (CoreCo) is a PE fund which will invest in SMEs located in Central America. The Fund will target fast-growing service industry sectors, such as business services, healthcare, IT, financial services, telecommunications, consumer goods, retail and logistics. CoreCo will invest in SMEs that have the potential to become regional leaders in their respective sectors, focusing on companies that already have a regional presence. The Fund will have a ten-year life, with two possible one-year extensions.

The management company of the Fund is CoreCo Management, Inc which is domiciled in Florida, USA.

Impact

This project will increase the availability of PE financing in Central America: the Fund aims to fill a financing gap faced by Central American SMEs that have growth potential but face difficulties in acquiring long-term financing.

The Fund will contribute to SME development: In particular, the Fund aims to improve SME’s governance and operations. The SMEs that CoreCo will invest in will:

  • directly create local jobs by hiring personnel as they grow;
  • contribute to local economic growth by purchasing goods and services from other businesses in the region, which can also lead to indirect job creation; and
  • pay taxes, contributing resources that may be used by governments to make improvements in local communities.

The Fund will contribute to the development of the VC/PE industry in the region by supporting the creation of additional fund management capacity.

Development impacts

  • Local economic growth

    The Fund will invest in SMEs located in Central America; it will target fast-growing service industry sectors, such as business services, healthcare, IT, financial services, telecommunications, consumer goods, retail and logistics. CoreCo will invest in SMEs that have the potential to become regional leaders in their respective sectors, focusing on companies that already have a regional presence.

Made possible through this investment

Thanks to the direct funding from BIO, the following second-line investments have been made possible.

CPG Hospitality

Manager and owner of marquee hospitality properties in Central America and the Caribbean

Directores Estrategicos (Save-a-lot)

Guatemala

Guatemalan branch of the United States’ largest hard discount grocery chain, Save-A-Lot

GRS

Guatemala

Distributor of home appliances with operations in Honduras, Guatemala, El Salvador and Nicaragua

MBMG

Guatemala

Multi-brand management of retail fashion, cosmetics, and accessories brand franchises

Roland

Guatemala

Packaging and distribution of heritage-brand peanuts and healthy snacks

Synergie Global Service Solutions - SGSS

Costa Rican leader in automotive product sales and distribution to the trade

TotalPET

Manufacturing & Services - Packaging

Tegu

Honduras

Vertically-integrated premium sustainable woodblock toy company with manufacturing operations in Honduras

View more of our investments in this region

Consorcio Eólico Amayo (fase 2), S.A.

Infrastructure

Consorcio Eólico Amayo (fase 2), S.A.

  6,686,000.00

  Nicaragua

  11/10/2010

  Debt

Interact Climate Change Facility

Investment Companies & Funds

Interact Climate Change Facility

  6,000.00

  India, Mongolia, Honduras, Côte d'Ivoire, Ghana

  23/02/2011

  Equity

Interact Climate Change Facility

Investment Companies & Funds

Interact Climate Change Facility

  10,000,000.00

  India, Mongolia, Honduras, Côte d'Ivoire, Ghana

  23/02/2011

  Debt

AgRIF Coöperatief U.A.

Investment Companies & Funds

AgRIF Coöperatief U.A.

  105,000.00

  Cambodia, India, Mongolia, Myanmar, Bolivia, Colombia, Ecuador, Guatemala, Honduras, Nicaragua, Peru, Burkina Faso, Côte d'Ivoire, Kenya, Senegal

  11/09/2018

  Subsidy

AgRIF Coöperatief U.A.

Investment Companies & Funds

AgRIF Coöperatief U.A.

  5,438,332.50

  Cambodia, India, Mongolia, Myanmar, Bolivia, Colombia, Ecuador, Guatemala, Honduras, Nicaragua, Peru, Burkina Faso, Côte d'Ivoire, Kenya, Senegal

  18/06/2015

  Equity

Asociacion Hondurena de Instituciones Bancarias

Financial Institutions

Asociacion Hondurena de Instituciones Bancarias

  29,426.60

  Honduras

  18/12/2020

  Subsidy

Local Currency Microfinance Fund II

Investment Companies & Funds

Local Currency Microfinance Fund II

  143,535.00

  Bolivia, Colombia, Dominican Republic, Ecuador, El Salvador, Guatemala, Honduras, Nicaragua, Paraguay, Peru

  28/01/2019

  Subsidy

Sociedad de Ahorro y Crédito Apoyo Integral

Financial Institutions

Sociedad de Ahorro y Crédito Apoyo Integral

  8,733,600.00

  El Salvador

  28/10/2020

  Debt

Darby Latin American Private Debt Fund III

Investment Companies & Funds

Darby Latin American Private Debt Fund III

  8,570,582.00

  Brazil, Colombia, Dominican Republic, Ecuador, Peru

  01/08/2018

  Equity

Fairtrade Access Fund

Investment Companies & Funds

Fairtrade Access Fund

  350,000.00

  Bolivia, Brazil, Colombia, Ecuador, Guatemala, Honduras, Nicaragua, Paraguay, Peru, Burkina Faso, Côte d'Ivoire, Ghana, Kenya, Tanzania, Uganda

  07/04/2020

  Subsidy

Polaris Energy Nicaragua

Infrastructure

Polaris Energy Nicaragua

  8,091,000.00

  Nicaragua

  01/11/2010

  Debt

Fondo de Desarrollo Local

Financial Institutions

Fondo de Desarrollo Local

  3,674,000.00

  Nicaragua

  16/05/2017

  Debt

Fondo de Desarrollo Local

Financial Institutions

Fondo de Desarrollo Local

  3,031,680.00

  Nicaragua

  14/10/2013

  Debt

Banco Popular

Financial Institutions

Banco Popular

  4,494,000.00

  Honduras

  19/12/2019

  Debt

San Martin Hydro

Infrastructure

San Martin Hydro

  6,421,625.00

  Nicaragua

  04/10/2017

  Debt

EcoEnterprises Partners III

Investment Companies & Funds

EcoEnterprises Partners III

  6,208,300.00

  Bolivia, Brazil, Colombia, Ecuador, Guatemala, Nicaragua, Paraguay, Peru

  22/05/2019

  Equity

Comercial Administradora S.A.

Financial Institutions

Comercial Administradora S.A.

  3,962,250.00

  Honduras

  03/12/2018

  Debt

Comercial Administradora S.A.

Financial Institutions

Comercial Administradora S.A.

  1,320,750.00

  El Salvador

  03/12/2018

  Debt

Comercial Administradora S.A.

Financial Institutions

Comercial Administradora S.A.

  3,522,000.00

  Guatemala

  03/12/2018

  Debt

Fairtrade Access Fund

Investment Companies & Funds

Fairtrade Access Fund

  3,000,000.00

  Bolivia, Brazil, Colombia, Ecuador, Guatemala, Honduras, Nicaragua, Paraguay, Peru, Burkina Faso, Côte d'Ivoire, Ghana, Kenya, Tanzania, Uganda

  24/10/2019

  Equity

Montecristi Solar FV SAS

Infrastructure

Montecristi Solar FV SAS

  14,230,155.00

  Dominican Republic

  02/11/2017

  Debt

Banco Popular

Financial Institutions

Banco Popular

  121,408.00

  Honduras

  18/09/2017

  Equity

Banco Popular

Financial Institutions

Banco Popular

  200,374.59

  Honduras

  29/04/2015

  Equity

Banco Popular

Financial Institutions

Banco Popular

  1,364,000.00

  Honduras

  17/05/2010

  Equity

Banco Popular

Financial Institutions

Banco Popular

  1,357,000.00

  Honduras

  07/12/2007

  Equity

Bósforo

Infrastructure

Bòsforo

  14,230,155.00

  El Salvador

  25/01/2018

  Debt