Banco Latinoamericano de Comercio Exterior, which does business as Bladex, along with TC Latin America Partners and Toesca Asset Management launched Greenbridge Capital, a regional private lending platform whose first factoring vehicle will be funded by Bladex.
The joint venture will begin operations in Chile before the end of 2023 with plans to expand to other countries in the region, such as Colombia, Peru and Mexico. The first vehicle, with a financing capacity of up to $200 million, will focus exclusively on the Chilean factoring market.
“Chile is the first step in a regional business plan. Our extensive experience in the factoring market allows us to identify attractive opportunities in a market that is still very fragmented,” Manuel Ossa, a partner at Greenbridge Capital, said.
Greenbridge Capital will seek to maintain a revolving portfolio of short-term invoices from high-credit rated companies. To achieve this, it will leverage the experience of the founding team, as well as its operational infrastructure and local presence.
“We are very excited about the business plan and the potential that the participation of such a relevant regional player as Bladex in its structuring and financing represents,” Gregorio Schneider, a partner at Greenbridge Capital, said.
Through this initiative, Bladex will enter into a line of business that will allow it to continue diversifying its product portfolio in Latin America.
“Structures of this nature are an essential part of our strategic plan and allow us to access more attractive yields without changing our risk profile through arbitrage and structuring,” Samuel Canineu, chief commercial officer of Bladex, said.
