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Manila Bulletin devider Business devider Banking & Finance devider IFC-supported private equity funds set sights on Philippine investments

IFC-supported private equity funds set sights on Philippine investments

Published May 11, 2026 06:30 pm  |  Updated May 11, 2026 01:44 pm

International Finance Corp. (IFC) has approved its planned investments in two private equity (PE) funds that are eyeing investments in the Philippines and the broader Southeast Asian region.

In disclosures last May 7 and April 24, respectively, the World Bank Group’s (WBG) private-sector lending arm said its board approved investments in Navegar Fund III LP (Navegar III) and KV Asia Capital Fund III LP (KV Asia III) last month.

IFC’s investment in Navegar III was approved last April 27, months after it first disclosed back in January its plan to invest as much as $40 million in the fund, alongside a $40-million co-investment envelope.

The fund, which will be managed by Cayman Islands-based Navegar III GP Ltd., is a sector-agnostic growth equity vehicle targeting investments of between $30 million and $50 million in Philippine companies across sectors such as consumer, healthcare, logistics, and business services.

Navegar III is targeting to raise $250 million, which it would “invest primarily in Philippine companies, with the potential for up to 15 percent of the fund to be invested outside of the Philippines.”

IFC had said the fund is expected to expand access to PE capital for small- to mid-cap firms, including female-owned or -led businesses, while supporting organizational transformation, regional expansion, governance improvements, and sustainability practices.

Meanwhile, IFC disclosed that its investment in KV Asia III was approved last April 23.

As it disclosed last January, IFC earlier committed to invest up to $35 million, or a maximum of 20 percent of total commitments, in the regional fund, alongside an additional envelope of up to $35 million for potential co-investment opportunities.

Managed by Singapore-based KV Asia Capital Pte. Ltd., KV Asia III is a $280-million generalist growth equity fund that will invest between $25 million and $75 million in mid-market Southeast Asian companies across sectors such as consumer, education, healthcare, industrials, and services.

The regional fund is expected to invest in firms operating across Southeast Asia, primarily targeting opportunities in the Philippines, Indonesia, Malaysia, and Vietnam.

IFC had said the fund seeks to create value by strengthening governance, financial management, and growth strategies of mid-market, family- and founder-owned companies, while promoting job creation, sustainability, and inclusion.

As Manila Bulletin earlier reported, IFC late last year also approved investments in the regional funds Allianz Asia Pacific Infrastructure Credit Fund and Seraya Partners Fund II (SEA) LP to support infrastructure development across Asia-Pacific, including the Philippines.

Related Tags

International Finance Corp. (IFC) World Bank Group (WBG) private equity (PE) funds Southeast Asia
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