Soros Leads 3rd Closing for IGNIA, Bringing Fund I to US$40.7 Million

GARZA GARCIA, Nuevo Leon, Mexico, May 11 /PRNewswire/ -- IGNIA Fund I, L.P.
Latin America's first social venture capital fund, announced today it has
reached a total of US$40.7 million in equity commitments by completing its
third closing. The round was led with $5 million from Soros Economic
Development Fund (SEDF), the global private foundation created by investor and
philanthropist George Soros. Other investors include a Swiss institution and a
Mexican individual investor group. With this close, IGNIA is on track to
reach its equity target of $50 - $75 million and together with its $25 million
in debt financing from the Inter-American Development Bank, IGNIA will have a
combined total of $75 - $100 million to invest in innovative businesses that
serve the Base of the Pyramid (BoP) in Latin America.

"We are particularly pleased to have the support of Soros Economic Development
Fund," said Michael Chu, co-founder and Managing Director of IGNIA. "SEDF´s
experience investing in effective solutions to social problems worldwide will
bring tremendous value to IGNIA."

"The Soros Economic Development Fund is committed to fighting poverty by
investing in funds like IGNIA that drive economic growth while serving the
needs of low-income populations," said Stewart J. Paperin, president of SEDF
and executive vice president of the Open Society Institute. "SEDF's support
will benefit businesses and communities in Mexico and throughout Latin
America."

Since 1997, SEDF has invested in over thirty financial institutions and
supported entrepreneurs in nearly 50 countries as part of an effort to
alleviate poverty and strengthen communities worldwide. SEDF will have an
observer seat on IGNIA´s Investment Committee.

"SEDF represents an ideal partner for IGNIA," said Alvaro Rodriguez,
co-founder and Managing Partner of IGNIA. "In addition to their capital
commitment, SEDF will allow us to have a window on some of the most
interesting developments in our field outside of our geographical region."

IGNIA Fund I, LP is a social venture capital fund that invests in high growth
businesses that serve the base of the pyramid in Mexico and other regions of
Latin America. More information is available at: www.ignia.com.mx

SOURCE IGNIA

Susie Lee, +52(81)8000-7218, szl@ignia.com.mx, or Mariana Rodriguez,
+52(81)8000-7169, mrg@ignia.com.mx, both of IGNIA Partners, LLC