A total of $34 billion (approximately US$265 million) was raised over the last four years from equity fund investments facilitated under the Jamaica Venture Capital Programme (JVCP).

The JVCP was established by the Development Bank of Jamaica (DBJ) in 2013 to provide micro, small and medium-sized enterprises with access to alternative equity financing.

Coordinator of the JVCP, Audrey Richards says the out-turn, which was generated through four regional fund facilities, includes $13 billion (US$98 million) raised from Jamaican investors.

She was speaking at the launch of the 2019 National Business Model Competition for tertiary institutions, at Jamaica Pegasus hotel in New Kingston on Wednesday.

Richards said $7 billion (US$56 million) of the sum raised has been invested in 20 Jamaican businesses, so far, while noting that local angel investors have also invested $188 million in another 12 entities.

Angel investors provide capital for business start-ups, usually in exchange for convertible debt or ownership equity.

Richards said these developments suggest that the Jamaican equities markets “are beginning to come into their own”, and that private equity, as an asset class, has “gained traction” locally.

http://www.jamaicaobserver.com/news/-34b-raised-under-jamaica-venture-capital-programme_158368