The Tiona Fund Limited
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.

Project Detail

Country

Regional

Project Number

TC9811010

Approval Date

February 24, 1999

Project Status

Closed

Project Type

Equity

Sector

-

Subsector

-

Lending Instrument

Instrumento del Fondo Multilateral de Inversiones

Lending Instrument Code

MIF

Modality

-

Facility Type

-

Environmental and Social Impact Category (ESIC)

-

Total Cost

USD 5,000,000.00

Country Counterpart Financing

USD 0.00

Original Amount Approved

USD 5,000,000.00
Financial Information
Operation Number Lending Type Reporting Currency Reporting Date Signed Date Fund Financial Instrument
EQU/MS-6401-RG Non-Sovereign Guaranteed USD - United States Dollar MIF-Small Enterprise Investment Fund Equity Financing
Operation Number EQU/MS-6401-RG
  • Lending Type: Non-Sovereign Guaranteed
  • Reporting Currency: USD - United States Dollar
  • Reporting Date:
  • Signed Date:
  • Fund: MIF-Small Enterprise Investment Fund
  • Financial Instrument: Equity Financing