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11 local entities step up for venture funds

DBJ

ELEVEN companies are so far considering taking equity positions in the formation of venture capital funds facilitated through the state-owned Development Bank of Jamaica (DBJ).

The move aims to officially introduce an additional avenue of funding for start-ups via at least one fund capitalised at roughly US$20 million. The eleven companies are part of a panel which will evaluate projects and deals from which to consider investing.

“We are prepared to work with prospective venture capital fund managers that bring deals that make sense to us,” stated Jeffery Hall, head of Jamaica Producers Group (JP), in a phone interview with the Jamaica Observer yesterday about JP’s interest. “The overall premise is that a high level of venture capital investing is helpful to the overall economy.”

The companies include JP, Jamaica Money Market Brokers, Pan Jamaican Investment Trust, ICD group, GK Capital Management, Capital Options Ltd, JN Fund Managers, Sagicor Group, Mussons Group, NCB Capital Markets and ATL Pension Fund.

Published in the Jamaica Observer
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