SAO PAULO, May 21 (Reuters) - IFC, a member of the World Bank Group, is investing $26 million in a private equity fund focused in Latin America managed by Catterton Management, the financing entity said in a statement on Thursday.
The fund will provide capital to small to mid-sized companies focused on the consumer sector in Latin America, specially the ones led by women entrepreneurs. The fund is expected to invest mostly in Brazil, Colombia and Mexico.
Latin America has only 5% of women entrepreneurs, trailing emerging markets 7% average, IFC said. Catterton’s fund will have a target of investing 20% in women-led companies.
The fund has already invested in an undisclosed Brazilian company providing dental services to lower middle socio-economic class, the statement said. (Reporting by Tatiana Bautzer Editing by Marguerita Choy)