InfraCo Asia

InfraCo Asia is a member company of the Private Infrastructure Development Group (PIDG), funded by donor governments: the UK (FCDO), Switzerland (SECO), the Netherlands, Australia (DFAT), Sweden (Sida), and Germany (KfW), with additional support from the IFC. Its capital is concessional, not commercially raised from LPs. Returns from exited projects are recycled into new investments rather than distributed to the donor governments.

InfraCo Asia originates projects directly through its in-country teams, working with host governments, local developers, and multilateral development banks to identify infrastructure gaps in frontier markets. Unlike commercial infrastructure funds that bid on tendered brownfield assets, InfraCo Asia typically enters at the pre-feasibility stage, securing land, permits, and offtake agreements before construction begins. This early-entry deal flow is gated by the firm's ability to navigate regulatory environments in markets like Vietnam, Pakistan, and India.

Yes. InfraCo Asia's mandate is to develop projects to financial close and construction completion, then exit to commercial infrastructure developers, regional energy companies, or private equity infrastructure funds. The Ninh Thuan Solar project in Vietnam was developed in partnership with Sunseap International and later sold to a commercial operator. The Coc San Hydropower project exited to a Vietnamese developer. Each exit recycles capital back into the firm's balance sheet for redeployment.

InfraZamin Pakistan is a credit-guarantee platform jointly established by InfraCo Asia and Karandaaz Pakistan, a local development finance institution. It provides partial credit guarantees to unlock local-currency debt for infrastructure projects in Pakistan, addressing a structural barrier where domestic banks lack the risk appetite for long-tenor infrastructure lending. InfraCo Asia's role was to provide seed equity and structuring expertise; Karandaaz manages local operations and regulatory compliance.

InfraCo Asia does not invest in fossil-fuel power generation, large-scale hydropower with significant resettlement impacts (Category A under IFC Performance Standards), or tobacco and weapons-related infrastructure. The firm's exclusion list also bars projects that would cause involuntary resettlement without a compliant resettlement action plan, reflecting the ESG standards mandated by its donor-government funders.

InfraCo Asia is a company limited by guarantee incorporated in Singapore, with its own board of directors and an independent investment committee. PIDG holds the guarantee — effectively the controlling interest — and appoints board members, but investment decisions are made by InfraCo Asia's management team in Singapore. This structure gives the firm operational independence while maintaining alignment with PIDG's development mandate and donor-country ESG requirements.

InfraCo Asia actively seeks co-investors to share development risk and signal commercial viability. The Ninh Thuan solar project involved Sunseap International as a co-developer; the Coc San hydropower plant was co-developed with a Vietnamese construction firm. The firm's catalytic model requires commercial co-investment participation to validate projects for eventual exit — a project that cannot attract a co-investor at or before financial close is likely to be terminated rather than fully self-funded.