The Development Bank of Jamaica (DBJ) through its Jamaica Venture Capital Programme (JVCP), and in collaboration with a group of corporate investors (“the Panel)”, is issuing of a Call for Proposals (CFP) to local and international private equity and venture capital fund managers, seeking financing for Funds to invest in companies operating in Jamaica. The Panel intends to select one or more Funds targeting projects and businesses in Jamaica, including projects requiring seed capital, venture capital, growth and expansion capital or large-scale private equity.
Eligible applicants are invited to present their proposal to the Panel in accordance with the terms, conditions and requirements as set out in the CFP document, which can be found on the Bank’s websites – www.dbankjm.com and www.venturecapitaljamaica.com. Submission of proposals should be in both electronic and hard copies to email@example.com and The Investor Panel Secretariat, Jamaica Venture Capital Programme c/o The Development Bank of Jamaica, 11a Oxford Road, Kingston 5. The closing date for submission is February 28, 2018. Fund Managers selected under the pre-qualification process will be required to make a presentation in person to the Panel on a date to be advised during the period April 9 to 13, 2018.
This is the second time that DBJ (as anchor investor) and Jamaican corporate and institutional investors are issuing a ‘Call’ for fund managers. The first was in July 2014 and that ‘Call’ resulted in eight fund managers (four local and four international) responding based on the pre-qualification process. Since then DBJ has committed US$2.25 million to three funds which, among them, raised some US$58 million from local investors. To date, the funds have made a combined 9 investments valued at approximately US$123 million, in Jamaica as well as the wider Caribbean and Central America. Five of these investments were made in Jamaican businesses, totaling US$28 million.
For further information, please contact:
Jamaica Venture Capital Programme
c/o The Development Bank of Jamaica
11a Oxford Road, Kingston 5