The Tiona Fund Limited

closed

This project aims to develop a venture capital fund to serve as a demonstration project to stimulate the creation of future institutional venture capital funds in the Caribbean region, helping to promote the creation of new businesses and the growth of existing businesses capable of serving regional or even international markets. MIF will make an equity investment in the Tiona Fund, which in turn will invest in any of sixteen Caribbean countries in small- and medium-size enterprises (SME) offering the potential for solid growth and the best opportunity to achieve targeted returns, primarily in the form of long-term capital appreciation over its ten year life. Investments will be used for: (a) start-ups, where there is a sound proposal; (b) privatizations and restructurings; and (c) listed shares related to new investment/expansion by the company concerned, where that company lacks ready access to capital markets. The main sectors of concentration are expected to be oil and natural gas, tourism, agribusiness, light manufacturing, telecommunications and financial and other services. Note: The fund is being reestructured.