oversubscribed

DBJ issues Call for Proposals (CFP) from Local & International Fund Managers Under a World Bank funding project towards Access to Finance for MSMEs

The Development Bank of Jamaica (DBJ), through its implementing units JVCapital (Jamaica Venture Capital Programme) and Access to Finance, and in collaboration with a group of corporate investors (“the Investor Panel”) is issuing a Call for Proposals (CFP) to local and international Fund Managers with the capability of raising matching private capital and undertaking investments in Jamaican SMEs.

The “Call” is under the Jamaica Access to Finance for MSME, a Government of Jamaica project, with financing received from The World Bank, a part of which is geared specifically to supporting the establishment of a SME Fund for risk capital financing.

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 at www.dbankjm.com and/or www.venturecapitaljamcia.com. 
 
Submission of proposal should be in both electronic and hard copies to accesstofinance@dbankjm.com and “The Investor Panel Secretariat, Fund Manager for the Establishment & Management of an SME Fund c/o Development Bank of Jamaica, 11a Oxford Road, Kingston 5.
 
The closing date for submission is Friday, March 13, 2020 at 3:00 p.m.  Fund Managers selected under the pre-qualification process will be required to make a presentation to the “Panel” on a date to be advised during the period April 8 – 14, 2020.

The DBJ in 2014 established JVCapital (Jamaica Venture Capital Programme) as its implementation unit to work with a group of corporate and institutional investors “Investor Panel”, that from time to time collaborate to issue “Calls” for fund managers.  This is the third time that the DBJ and the ‘Investor Panel’ are issuing “Call” for fund managers. 

To date the DBJ has invested in five funds: Portland Private Equity, Caribbean Mezzanine Fund 1, Sygnus Credit Investments, MPC Caribbean Clean Energy and SEAF Caribbean SME Growth Fund.  The funds have to date made a combined investment in 37 companies valued at US$185M and have raised US$318.7M in Jamaica and the wider Caribbean and Central America.  Twenty-two (22) of these investee businesses are locally owned.