Inter-American Development Bank (IDB) and IGNIA Fund sign debt financing for US$25 million

Date Closed: 10/10/2008

Value: US$25 million

On October 10, 2008, Ignia Fund completed a debt financing for US$25 million with the Inter-American Development Bank. IGNIA Fund I, LP is a social venture capital fund that invests in "base of the pyramid" high growth businesses in Mexico and other regions of Latin America. By providing effective responses to the enormously underserved needs of the low income population, both as consumers as well as active participants in productive value -creating businesses, IGNIA aims to empower entrepreneurship and generate social impact while creating attractive financial returns for its investors. IGNIA invests approximately $2 - $10 million per company over the life of the investment.

BLG acted as Canadian counsel for the creation and financing of IGNIA with a team that included Fred Enns and Pierre Côté.