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IFC to back Olympus Capital’s $300M Asian cleantech PE fund

According to reports, International Finance Corporation (IFC), the private sector investment arm of World Bank, is backing Asia Environmental Partners II, LP a fund managed by Olympus Capital to invest in various Asian markets including India, with an LP commitment.

IFC said it will invest $25 million or 20 per cent of the total commitment in the fund, whichever is lower.

Asia Environmental Partners II, LP is a 10-year $300 million-target size PE fund, which would focus on the fast growing environmental and clean energy industries across Asia, with the key geography focus of China, India and Southeast Asian countries (ASEAN).

It is the second fund under the platform, which was launched in 2008 with sponsorship from Olympus Capital Asia. It is a dedicated vehicle focusing exclusively on environmental and clean energy investments in Asia. It has completed transactions in the hydropower, water and waste water treatment, water supply, waste-to-energy, wind and carbon sectors.

Olympus Capital is an independent regional private equity firm investing in the middle market companies across Asia, including China, India, Japan and South Korea as well as Southeast Asia. It was established in 1997 by Daniel Mintz, Lawrence Miao and Frederick Long and currently has around 30 investment professionals with offices located in Hong Kong (China SAR), Shanghai, Singapore, Delhi, Seoul, Tokyo and New York.

It has been an active PE investor and its investment portfolio in India includes DM Healthcare, Karur Vysya Bank Ltd, Orient Green Power.

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