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Venture Capitalist, David Mullings and techpreneur, Ingrid Riley elected Chair and Deputy Chair of DBJ/JVCAPITAL Mentorship Council

The Development Bank of Jamaica (DBJ), through JVCAPITAL (the Jamaica Venture Capital Programme), is pleased to announce the appointment of David Mullings and Ingrid Riley as Chairman and Deputy Chairman of the recently-established Mentorship Council under the Bank’s Mentors for Innovation and Entrepreneurs Programme (MIEP). The MIEP is a 12-month pilot initiative that is geared at providing critical ‘hand-holding’ assistance to 12 Jamaican innovation-based start-ups with high growth potential.
 
The Bank is confirming that at a recently-held Council Meeting (August 13), Mr. Mullings, Chief Executive Officer of the Florida-based Blue Mahoe Capital Partners, and Ms. Riley, Founder of SiliconCaribe and Rebel Media Grrl, were unanimously elected by the seven-member council. 
 
Audrey Richards, Project Coordinator of JVCAPITAL under whose portfolio the MIEP falls, states, “The expertise of these two Jamaican expats, combined with their strong passion for the growth and development of our entrepreneurship ecosystem, make them the ideal candidates to lead the group. They will oversee the MIEP to ensure it supports the growth of innovation-based Jamaican start-ups.”
 
The remaining five MIEP Mentorship Council members are:

  • George Mathanool, a Singaporean-American retired cybersecurity and banking executive turned fintech entrepreneur who serves in various roles in the US State of Connecticut to support tech-based entrepreneurship and economic development. 
  • Mark McIntosh, CEO/Vice Chairman of Specialty Coffee Investments Company and Chairman of the NCB Pension Fund.
  • Marlon Nichols, a Jamaican by birth who founded and leads MaC Venture Capital, recognized as one of the most important diversity venture capital funds in the US.
  • Nathaniel Peat, multiple award-winning British-Jamaican social enterprise/green tech entrepreneur and business coach.
  • Kerwyn Valley, a Trinidadian, CEO of KCL Capital Market Brokers and Founder/Managing Director of Aspire Fund Management Company Limited, a small-cap private equity management company focused on growth-stage private sector investments throughout the Caribbean.

The MIEP is an integrated three-tiered initiative comprising the 7-member Council that leads a pool of Programme Mentors who are high-level consultants and technical experts in their fields, experienced Business Advisors and the 12 beneficiary entrepreneurs. All MIEP Mentors, including the Mentorship Council, serve in a voluntary capacity.
 
The DBJ has, to date, trained the first set of 10 Programme Mentors in order to strengthen their mentorship skills, and has certified the Business Advisors in the Programme in a specialized business advising system, in order to provide structured business development support to the participating entrepreneurs.
 
JVCAPITAL was established by the DBJ in 2013, through a Technical Cooperation (TC) Agreement with the Inter-American Development Bank (IDB) to conduct a market study and an accompanying implementation plan for the establishment of a venture capital and private equity industry for Jamaica. Following the successful completion of that TC, a follow-on Agreement which focused on supporting the development of an entrepreneurial and early stage ecosystem for Jamaica, was signed in 2016. It is under this second TC that the MIEP is being executed.