NEW YORK– IDB Invest has commit up to USD10 million in the Amadeus V Latin America Sustainable Growth Fund, a private equity fund managed by Amadeus Capital Partners, to provide early growth capital to emerging technology-enabled high growth companies across Latin America and the Caribbean, the multilateral firm announced today in a public statement.

The deal seeks to support the growth of young, tech-enabled, innovative, and fast-growing firms in LAC, contributing to higher productivity, job creation, and, ultimately, economic growth, IDB Invest said.

The Fund’s investment will focus on FinTech, EdTech, Software-as-a-Service, and next NextGen eCommerce with a target size of USD150 million. Amadeus is a pioneer in the European venture capital space and has a long track record, including early-growth and emerging markets strategies.

IDB Invest, a member of the IDB Group, is a multilateral bank promoting economic development in Latin America and the Caribbean through the private sector. The bank has USD13.1 billion in assets under management and 385 clients in 25 countries.