British International Investment

GEF South Asia Fund II

IndiaAsiaCommunications & IT servicesFood & AgricultureInfrastructureManufacturing

Global Environment Fund (GEF) South Asia Growth Fund II (SAGF) is managed by GEF South Asia Advisors in India. Its Indian team has a strong track record and we have worked closely with them to strengthen governance, attract further investors and shape their environmental, social and governance capability.

This investment was made when British International Investment was named CDC Group.

Impact information

Applies to investments made from 2019 onwards. The tabs in this section define what we expect to achieve through the investment, assessing the potential impact of the investment against six dimensions of impact. You can find more details on our methodology of assessing impact here.

What?

Impact

Reducing greenhouse gas emissions by improving resource efficiency.

How?

How?

Investing in businesses which help to manage demand for scarce resources such as energy, water and food by offering cleaner alternatives, limiting wastage along the value chain and improving consumption efficiency.

Who?

Stakeholder Geography Characteristics
India, Bangladesh, Global

Contribution/additionality

Contribution/additionality

  • Value additionality: Potential to collaborate with the manager on broader resource efficiency strategy.

  • Financial additionality: We will be an anchor investor allowing the manager to reach a sizable first close with a view to support mobilisation from commercial investors at second close.

Risk

Execution Risk

Demand for certain resource efficiency measures (e.g. waste treatment) are subject to cyclical reductions in capex spending (mitigated by investees using a leasing-driven business model that shifts capex to opex).

Alignment Risk

Ability to operate effectively in Bangladesh (can be mitigated by investing in businesses with proven business models and customer networks to enable expansion beyond India).

Understanding our impact information (PDF)

Environmental and social information

  • Environmental and social summary

    A high-level description of the environmental and social aspects of the investment. This may include a summary of key environmental and social risks identified during environmental and social due diligence (ESDD); key elements of an environmental and social action plan (ESAP); or ways in which we plan to support the investee improve environmental and social standards, such as through their environmental and social management system (ESMS); as well as any other priority areas agreed with the investee.
  • Environmental and social risk

    A risk category rating, which indicates the level of environmental and social risk associated with an investment. For an explanation of the categorisations used, see here. We consistently provide an environmental and social risk category for all investments screened from 2023 onwards.

Environmental and social summary

We continue to support the fund manager in the implementation of its robust ESMS, particularly in managing specific risks associated with this sector.

Understanding our approach to environmental and social risk (PDF)

Reporting and Complaints Mechanism

The Reporting and Complaints Mechanism allows anyone outside BII to report alleged breaches of the business integrity or environmental and social provisions of BII’s Policy on Responsible Investing. This includes breaches made by BII, a BII investee, or a portfolio company of a fund in which BII has invested. The Reporting and Complaints Mechanism Rules are available here. Reports and complaints can be submitted by email to reportsandcomplaints@bii.co.uk or by mail. See more details on our Reporting and Complaints Mechanism here.

For any other general enquiries contact us at enquiries@bii.co.uk

  • Key facts
    Last updated

    When the last quarterly update of the website database occurred.
    :
    June 2024
    Project number

    An identifier number shared by investments in the same project.
    :
    D3040
    Status

    The current status of the investment (green flag for active and red flag for exited).
    :
    Active
    Region

    The geographical region where the country is located. We currently invest in Africa, South Asia, South East Asia and the Caribbean. In 2023, BII’s investment mandate was extended allowing it to invest in regional funds linked to Ukraine, with the majority of activity expected to begin post-war. Investments outside these regions were made prior to 2012 under previous investment mandates.
    :
    Asia
    Sector

    We prioritise those sectors that facilitate development and need our capital the most. Our priority sectors contribute towards many of the Sustainable Development Goals. They range from investing in the power infrastructure that will provide people with better access to electricity, to investing in financial institutions that direct capital to the individuals and businesses that need it the most.

    :
    Communications & IT services, Food & Agriculture, Infrastructure, Manufacturing

    We provide capital in the following ways: directly – through direct equity, direct debt, guarantees and other non-intermediated financial instruments; and indirectly – principally through investment funds.

    For direct investments and fund investments, this is the date BII committed capital to the investments. This is typically the date on which legal agreements are signed by all parties.

    For the portfolio companies of our fund investments, this is the date (either the month or the quarter) on which the fund committed capital to the portfolio company.

    For direct equity investments, this is the date at which British International Investment exited the investment.

    For debt investments, this is the date at which the final debt repayment was made.

    For funds, this is the date at which the fund was terminated.

    For underlying fund investments, this is the date at which the fund manager exited the investment.

    The total amount committed, per financial instrument, per investment, on the date BII becomes subject to a binding legal obligation to provide funding or assume a contingent liability. This information is provided in US dollars.

    For direct investments, this is the amount that BII has committed to the business or project. For fund investments, this is the amount BII has committed to the fund.

    The currency in which the investment was made.
    Investment type :
    Fund
    Start date :
    May 2019
    Amount :
    $25m
    Currency of investment :
    USD
    Fund Manager:
    GEF Capital Partners LLC
    Domicile

    The company or investment fund’s place of incorporation.
    :
    Canada

    Download as PDF

    Click here to read our data guidance

Investments made by this fund into companies:

For further information about these companies, visit https://gefcapital.com/capital-partners/

Investment name Country Region Sector Start date Status
Electrodrive Powertrain Solutions Private Limited (“Electra”) India South Asia Infrastructure March 2023 Active
ESDS Software Solutions Private Ltd India South Asia Communications & IT services June 2019 Active
Premier Energies Limited India South Asia Infrastructure September 2021 Active
Prince Pipes and Fittings Ltd India South Asia Manufacturing November 2019 Exited
Seedworks International Private Limited India South Asia Food & Agriculture July 2020 Active
South Asia Growth Invest Holdings LP India South Asia Manufacturing December 2022 Active
SS Supply Chain Solutions Private Limited India South Asia Manufacturing July 2021 Active
Syrma Technology Pvt Ltd India South Asia Manufacturing November 2020 Exited

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