Selex Smart Electric Vehicles JSC

The transaction involves the administration by the Asian Development Bank (ADB) of an equity investment of up to $4,000,000, with an initial investment of up to $1,200,000, in Selex Smart Electric Vehicles JSC (Selex), a company headquartered in Viet Nam. The investment is to be provided by the ADB Ventures Investment Fund 1 under the ADB Ventures Financing Partnership Facility. The balance of the approved amount may be invested as equity or quasi-equity in subsequent fundraising rounds that Selex is expected to undertake. Consistent with the established fund documents, ADB will not invest its own capital alongside the fund.