NEP V may also invest in promising early-stage companies to support the rapid digitization of businesses, helping these companies scale, acquire new customers, and expand into underpenetrated markets.
“ADB is excited to partner with the Northstar Group to support the growth of businesses in Indonesia and Southeast Asia,” said ADB Private Sector Investment Funds and Special Initiatives Division Director Janette Hall. “The flexibility to selectively pursue early-stage deals will also allow the fund to support emerging companies that are introducing technology to transform traditional business models in financial services, education, agribusiness, health care, and other sectors.”
ADB will also provide guidance as the Northstar Group implements a more robust environmental, social, and governance approach and looks to enhance gender equality in its operations and across its portfolio of investee companies.
Established in 2003, the Northstar Group manages more than $2.5 billion in committed equity capital dedicated to investing in growth companies in Southeast Asia, mainly in Indonesia./.