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DBJ contracts London-based company to establish, manage new SMEs fund in Jamaica

DBJ contracts London-based company to establish, manage new SMEs fund in Jamaica
jamaicaobserver.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from jamaicaobserver.com Daily Mail and Mail on Sunday newspapers.

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The DBJ selects new fund manager to invest in local businesses

DBJ’s managing director Milverton Reynolds said the new fund represents the continued expansion of the local private capital ecosystem.
A London-based management firm focused on alternative private equity and venture capital solutions has been selected to establish and manage a new Small and Medium-sized Enterprises (SMEs) Fund in Jamaica.
The company, Actus Partners, was chosen to be the sole manager after a recent ‘Call for Proposals’ from local and international private equity funds for fund manager(s) under the World Bank Access to Finance for Micro, Small and Medium-sized Enterprises Project (A2F) for which the DBJ is the implementing agency. ....

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$7 million available to entrepreneurs through DBJ IGNITE programme

$7 million available to entrepreneurs through DBJ IGNITE programme
loopjamaica.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from loopjamaica.com Daily Mail and Mail on Sunday newspapers.

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Second successful cohort emerges from DBJ's IGNITE as Cohort III opens

DBJ’s Managing Director Milverton Reynolds.
The second cohort (Cohort II) of the Development Bank of Jamaica’s (DBJ) flagship product, the Innovation Grant from New Ideas to Entrepreneurship (IGNITE), was recently concluded with 23 companies benefitting from a total of $77 million in funds, ranging from $2.5 million to $4 million being awarded to each.
The businesses impacted varied from agriculture and food delivery to hair care and medicine to film production and mobile application development.
“Cohort II, which ran from 2018 to 2020, performed exceptionally well,” says DBJ’s Managing Director Milverton Reynolds. “We are very proud of the entrepreneurs in this cohort who have used their businesses to generate approximately $700 million in revenue. This was more than three times the revenue generated before they entered the IGNITE programme.” ....

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