Triple P SEA Financial Inclusion Fund

Equity : November 2017

The Triple P SEA Financial Inclusion Fund will invest in insurance and non-bank financial services companies primarily in Indonesia, the Philippines, Vietnam, Thailand, and Cambodia.

Amount

€ 6,640,739.00

Type of investment

Equity

Development impacts

  • Local economic growth
  • Private sector consolidation/innovation
  • Financial inclusion

Beneficiary locations

Asia: Cambodia, Indonesia, Philippines, Vietnam

Investment field

Investment Companies & Funds

Activity

MFI fund

Organisation

Triple P SEA Financial Inclusion Fund

Triple P will provide growth capital to small insurance and non‐bank financial services businesses, that focus on offering relevant and fairly priced products to the growing lower middle income population of following countries of South-East Asia: Indonesia, Philippines, Vietnam, Thailand and Cambodia.

The Fund will aim at building over its 5 year investment period a portfolio of between 8 and 10 investments, thereby deploying $ 3 mln to 15 mln in each investment. The strategy is to invest in Tier2 insurance companies and add value to develop them into a top 10 company in order to sell them after an average holding period of 5 years to international insurance players willing to expand their activities in Asia.

Triple P stands for People, Purpose and Profit.

Development impacts

  • Local economic growth

    Triple P provides long-term equity financing to support the growth of the insurance sector in a still underserved region.

  • Private sector consolidation/innovation

    This will be the first PE fund focusing specifically on smaller insurance companies and NBFIs in the target region. The partners have relevant investment and operational know-how that will be transferred to the investee companies through a hands-on approach.

  • Financial inclusion

    Triple P increases the population’s access to insurance, but also to payment and savings services.

Made possible through this investment

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

Praxis

Philippines

The Praxis Company is the leading financial literacy training company in Southeast Asia. Praxis® offers a fun, engaging, and effective learning experience to anyone who wishes to master money. Through the realistic life simulation, the game allows users to easily draw practical financial insights and form good money habits.

Contemi

Vietnam

Contemi provides innovative end-to-end solutions for insurance companies in Europe and Asia. The Company is already embedded in Asia, thanks to having a strong client presence in the region’s emerging markets such as Vietnam – where the company has over 60 skilled insurance developers.

View more of our investments in this region

Kashf Foundation

Financial Institutions

Kashf Foundation

  9,400,000.00

  Pakistan

  28/06/2022

  Debt

candi solar

Infrastructure

candi solar

  15,203.00

  India, South Africa

  30/05/2022

  Subsidy

Banh Vang Company Ltd.

Enterprises

Banh Vang Company Ltd.

  22,140.00

  Vietnam

  31/05/2022

  Subsidy

Green Sustainable Ventures CO

Infrastructure

Green Sustainable Ventures CO

  33,568.00

  Cambodia

  05/04/2022

  Subsidy

Alterfin

Financial Institutions

Alterfin

  80,000.00

  Cambodia, Nicaragua, Peru, Côte d'Ivoire, Kenya

  03/03/2022

  Subsidy

Social Performance Task Force

Financial Institutions

Social Performance Task Force

  43,221.00

  01/02/2022

  Subsidy

candi solar

Infrastructure

candi solar

  4,074,650.00

  India, South Africa

  10/12/2021

  Debt

Geuther Vietnam

Enterprises

Geuther Vietnam

  24,309.00

  Vietnam

  18/10/2021

  Subsidy

SDG Frontier Fund

Investment Companies & Funds

SDG Frontier Fund

  6,330,000.00

  03/03/2020

  Equity

Lendable MSME Fintech Credit Fund

Investment Companies & Funds

Lendable MSME Fintech Credit Fund

  2,994,950.00

  India, Indonesia, Vietnam, Kenya, Nigeria, South Africa

  20/08/2021

  Equity

SANASA Development Bank

Financial Institutions

SANASA Development Bank

  3,387,334.87

  Sri Lanka

  08/07/2021

  Equity

Alterfin

Investment Companies & Funds

Alterfin

  20,125.00

  Cambodia, Nicaragua, Côte d'Ivoire, Kenya

  03/08/2021

  Subsidy

Koperasi Mitra Dhuafa

Financial Institutions

Koperasi Mitra Dhuafa

  6,000,000.00

  Indonesia

  13/07/2021

  Debt

Incofin India Progress Fund

Investment Companies & Funds

Incofin India Progress Fund

  2,000,000.00

  India

  22/07/2021

  Equity

Incofin India Progress Fund

Investment Companies & Funds

Incofin India Progress Fund

  5,000,000.00

  India

  22/07/2021

  Equity

European Financing Partners S.A.

Investment Companies & Funds

European Financing Partners S.A.

  15,000,000.00

  India, Kenya, Nigeria, Senegal, Tanzania, Zambia

  22/12/2020

  Debt

The Currency Exchange Fund n.v.

Financial Institutions

The Currency Exchange Fund n.v.

  7,091,000.00

  Bangladesh, Cambodia, India, Indonesia, Myanmar, Nepal, Pakistan, Philippines, Sri Lanka, Vietnam, Bolivia, Brazil, Colombia, Dominican Republic, Ecuador, El Salvador, Guatemala, Honduras, Nicaragua, Paraguay, Peru, Algeria, Egypt, Iraq, Jordan, Lebanon, Morocco, Syria, Tunisia, Palestinian Territories, Benin, Burkina Faso, Burundi, Cameroon, Côte d'Ivoire, Democratic Republic of Congo, Ethiopia, Ghana, Guinea, Kenya, Madagascar, Malawi, Mali, Mozambique, Niger, Nigeria, Rwanda, Senegal, South Africa, Tanzania, Uganda, Zambia

  05/09/2007

  Equity

European Financing Partners S.A.

Investment Companies & Funds

European Financing Partners S.A.

  5,000,000.00

  India, Kenya, Nigeria, Senegal, Tanzania, Zambia

  08/12/2010

  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

Kaizen Private Equity II

Investment Companies & Funds

Kaizen Private Equity II

  300,000.00

  India, Philippines, Vietnam

  08/12/2020

  Subsidy

PT Mitra Bisnis Keluarga Ventura

Financial Institutions

PT Mitra Bisnis Keluarga Ventura

  15,000,000.00

  Indonesia

  25/03/2021

  Debt

PT Mitra Bisnis Keluarga Ventura

Financial Institutions

PT Mitra Bisnis Keluarga Ventura

  4,350,666.00

  Indonesia

  16/12/2014

  Debt

Berkeley Energy Wind Mauritius Ltd.

Infrastructure

Berkeley Energy Wind Mauritius Ltd.

  1,000,000.00

  India

  09/06/2015

  Debt

Banh Vang Company Ltd.

Enterprises

Banh Vang Company Ltd.

  2,500,000.00

  Vietnam

  28/09/2015

  Debt

Irrawaddy Green Towers

Infrastructure

Irrawaddy Green Towers

  11,179,644.00

  Myanmar

  15/12/2015

  Debt

Dornod Shim Agro

Enterprises

Dornod Shim Agro

  934,579.44

  Mongolia

  05/09/2016

  Debt

Cambodia Laos Myanmar Development Fund II

Investment Companies & Funds

Cambodia Laos Myanmar Development Fund II

  382,666.30

  Cambodia, Myanmar

  22/12/2020

  Equity

Cambodia Laos Myanmar Development Fund II

Investment Companies & Funds

Cambodia Laos Myanmar Development Fund II

  4,744,500.00

  Cambodia, Myanmar

  09/12/2016

  Equity

European Financing Partners S.A.

Investment Companies & Funds

European Financing Partners S.A.

  6,000.00

  India, Kenya, Nigeria, Senegal, Tanzania, Zambia

  21/11/2003

  Equity

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

Summit Meghnaghat Power Company Limited

Infrastructure

Summit Meghnaghat Power Company Limited

  12,806,440.00

  Bangladesh

  03/04/2014

  Debt

EDFI Management Company

Financial Institutions

EDFI Management Company

  159,905.00

  14/10/2020

  Equity

Utkarsh Microfinance Pvt Ltd

Financial Institutions

Utkarsh Microfinance Pvt Ltd

  3,625,555.00

  India

  25/03/2015

  Debt

KF Bioplants

Enterprises

KF Bioplants

  2,100,000.00

  India

  16/12/2014

  Debt

Commercial Leasing & Finance Plc

Financial Institutions

Commercial Leasing & Finance Plc

  6,470,357.23

  Sri Lanka

  18/12/2015

  Debt

BTS India Private Equity Fund Ltd.

Investment Companies & Funds

BTS India Private Equity Fund Ltd.

  3,557,000.00

  India

  23/06/2006

  Equity

Geuther Vietnam

Enterprises

Geuther Vietnam

  2,581,446.60

  Vietnam

  10/09/2020

  Debt

Geuther Vietnam

Enterprises

Geuther Vietnam

  5,929.00

  Vietnam

  31/08/2020

  Subsidy

Geuther Vietnam

Enterprises

Geuther Vietnam

  31,044.00

  Vietnam

  10/09/2020

  Subsidy

VisionFund Myanmar Co

Financial Institutions

VisionFund Myanmar Co

  5,240,160.00

  Myanmar

  26/08/2020

  Debt

Khan Bank

Financial Institutions

Khan Bank

  15,441,236.00

  Mongolia

  28/09/2018

  Debt

Rajasthan Sun Technique Energy Private Limited

Infrastructure

Rajasthan Sun Technique Energy Private Limited

  15,461,000.00

  India

  18/09/2012

  Debt

Khan Bank

Financial Institutions

Khan Bank

  40,978.30

  Mongolia

  29/01/2019

  Subsidy

Pact Global Microfinance Fund

Financial Institutions

Pact Global Microfinance Fund

  10,480,320.00

  Myanmar

  12/05/2020

  Debt

Proximity Finance

Financial Institutions

Proximity Finance

  2,620,080.00

  Myanmar

  27/07/2020

  Debt

Alterfin

Financial Institutions

Alterfin

  3,000,000.00

  Cambodia, Nicaragua, Côte d'Ivoire, Kenya

  15/07/2020

  Debt

Off-Grid Solar and Financial Access Senior Debt Fund

Investment Companies & Funds

Off-Grid Solar and Financial Access Senior Debt Fund

  4,385,750.00

  11/10/2018

  Debt

Solu Hydropower

Infrastructure

Solu Hydropower

  28,794.00

  Nepal

  30/04/2020

  Subsidy

Solu Hydropower

Infrastructure

Solu Hydropower

  17,392,580.00

  Nepal

  30/12/2014

  Debt

Ventureast Proactive Fund II

Investment Companies & Funds

Ventureast Proactive Fund II

  4,300,000.00

  India

  06/11/2017

  Equity

Excelsior Capital Vietnam Private Equity Fund

Investment Companies & Funds

Excelsior Capital Vietnam Private Equity Fund

  2,000,000.00

  Vietnam

  07/11/2020

  Equity

Excelsior Capital Vietnam Private Equity Fund

Investment Companies & Funds

Excelsior Capital Vietnam Private Equity Fund

  8,733,600.00

  Vietnam

  21/01/2020

  Equity

Annapurna Microfinance Pvt. Ltd

Financial Institutions

Annapurna Microfinance Pvt. Ltd

  1,942,313.00

  India

  27/06/2017

  Equity

Annapurna Microfinance Pvt. Ltd

Financial Institutions

Annapurna Microfinance Pvt. Ltd

  3,459,250.00

  India

  19/03/2014

  Equity

Berkeley Energy Wind Mauritius Ltd.

Infrastructure

Berkeley Energy Wind Mauritius Ltd.

  3,000,000.00

  India

  27/06/2011

  Equity

Citizens Development Bank

Financial Institutions

Citizens Development Bank

  9,486,770.00

  Sri Lanka

  06/04/2018

  Debt

Srei Equipment Finance Private Limited

Financial Institutions

Srei Equipment Finance Private Limited

  8,808,720.00

  India

  26/02/2019

  Debt

Puratos Grand Place Vietnam

Enterprises

Puratos Grand Place Vietnam

  85,910.00

  Vietnam

  05/07/2018

  Subsidy

SANASA Development Bank

Financial Institutions

SANASA Development Bank

  7,270,400.00

  Sri Lanka

  20/09/2019

  Debt

Puratos Grand Place Vietnam

Enterprises

Puratos Grand Place Vietnam

  1,377,750.00

  Vietnam

  25/10/2017

  Debt

Renewable Energy Asia Fund II

Investment Companies & Funds

Renewable Energy Asia Fund II

  8,900,000.00

  India, Indonesia, Philippines

  03/10/2016

  Equity

Renewable Energy Asia Fund

Investment Companies & Funds

Renewable Energy Asia Fund

  6,000,000.00

  India, Philippines

  09/12/2009

  Equity

Alterfin

Investment Companies & Funds

Alterfin

  250,000.00

  Cambodia, Nicaragua, Côte d'Ivoire, Kenya

  13/12/2002

  Equity

Mekong Enterprise Fund

Investment Companies & Funds

Mekong Enterprise Fund

  2,117,000.00

  Cambodia, Vietnam

  26/11/2002

  Equity

South Asia Clean Energy Fund

Investment Companies & Funds

South Asia Clean Energy Fund

  3,744,000.00

  India

  11/11/2010

  Equity

Ventureast Proactive Fund I

Investment Companies & Funds

Ventureast Proactive Fund I

  3,632,000.00

  India

  07/02/2008

  Equity

Xac Leasing

Financial Institutions

Xac Leasing

  3,865,000.00

  Mongolia

  31/10/2012

  Debt

Xac Leasing

Financial Institutions

Xac Leasing

  20,516.10

  Mongolia

  27/06/2018

  Subsidy

Xac Leasing

Financial Institutions

Xac Leasing

  4,333,800.00

  Mongolia

  22/08/2018

  Debt

South Asia Growth Fund II

Investment Companies & Funds

South Asia Growth Fund II

  2,000,000.00

  Bangladesh, India

  23/12/2020

  Equity

South Asia Growth Fund II

Investment Companies & Funds

South Asia Growth Fund II

  8,700,000.00

  Bangladesh, India

  10/05/2019

  Equity

Kaizen Private Equity II

Investment Companies & Funds

Kaizen Private Equity II

  8,338,200.00

  India

  12/11/2018

  Equity

Omnivore Partners India Fund 2

Investment Companies & Funds

Omnivore Partners India Fund 2

  4,367,820.00

  India

  15/04/2019

  Equity