PCF III S.L.P. (Portland III), a multi-sector fund managed by Portland Private Equity focused on mid-sized companies in the Caribbean, will receive financial support from IDB Invest for up to 10 million dollars, including a 3 million blended-finance contribution from the Finland-LAC Blended Finance Facility (FBF), which is also administered by IBD Invest

The objective of the fund is to support the growth and regional expansion of medium-sized businesses in the Caribbean, providing capital, operational expertise, a network of strategic partners and a gender focus in their investments.

It will be the first private equity fund in Latin America and the Caribbean to apply the Science-Based Targets Initiative (SBTi) methodology to reduce greenhouse gas emissions, and it is also expected to be the first to rate and improve the climate resilience of real estate assets owned or leased by portfolio companies within the innovative Building Resilience Index (BRI).

In addition, IDB Invest will provide advisory services to strengthen the fund’s sustainability and capacity development for the fund to achieve the ambitious climate targets established in the FBF participation.