IFC commits $60M to Everstone Capital to invest in mid-market companies
The fund will invest in companies across healthcare, technology, consumer goods, and financial services in India and Southeast Asia.
The private equity arm of Everstone Group, Everstone Capital on Tuesday said it has received a $60 million commitment from IFC.
IFC, which is part of the World Bank Group, is a United Nations agency that invests in private sector growth in developing countries.
The fund will invest in mid-market companies across healthcare, technology, consumer goods, and financial services in India and Southeast Asia.
This new infusion follows IFC’s previous investments in Everstone’s Fund III and IV, at $50 million each, along with a $10 million co-investment in Wingify, a software-as-a-service company.
“Our long-standing association with IFC reflects a shared commitment to combining financial discipline with impact. From supporting our private equity platforms to investing in sustainable infrastructure, IFC has consistently engaged as both a capital provider and a strategic partner. Together, we are building businesses that not only generate strong returns but also advance innovation, inclusion, quality job creation, and energy transition across emerging markets,” said Sameer Sain, Co-founder and CEO, Everstone Group.
The strategic partnership has also extended to IFC, providing Everstone Capital with support to strengthen ESG standards and adopt IFC’s performance standards.
Everstone is a Singapore-headquartered investment firm with $3.5 billion in assets under managements. The company focuses on investments in mid-market investments across high-growth sectors.
“Mid-market companies are central to IFC’s strategy to advance job creation, economic resilience, and sustainable growth in India and Southeast Asia. Our partnership with Everstone is grounded in a shared mission to mobilise long-term private capital and drive innovation across priority sectors. By investing in Fund V, we aim to deliver lasting impact for business and communities across the region,” said Farid Fezoua, IFC Global Director for Disruptive Technologies, Services and Funds.
Edited by Affirunisa Kankudti