Caribbean Investment Fund

This fund is a new approach to channeling equity funds to small businesses. MIF created a special facility housed within the larger, commercially oriented Caribbean Investment Fund. This special facility will promote equity and equity-related investments in small private companies located in the sovereign member nations of the Caribbean Community and Common Market States ("CARICOM"). It can be considered a 'fund within a fund' that will be dedicated to small business investments. This model will enable large investors such as pension funds, to make small business investments in which they otherwise would be unable to participate, tapping an important additional source of funds for small business. It offers a workable model to encourage commercial fund managers who are presently not serving small business, to also consider making these smaller investments. Bringing small business investments under the umbrella of a much larger fund, has succeeded in attracting not only other development agency capital, but is also pulling in major institutional and corporate investors. MIF's participation was the key catalyst in this process. The MIF has also greatly benefited from the role of IIC which invested in the overall fund. MIF's authorized investment of $10M will be matched by investors in the overall fund to create a small business facility of $20M.

Project Detail

Country

Regional

Project Number

TC9904035

Approval Date

June 2, 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 10,000,000.00

Country Counterpart Financing

USD 0.00

Original Amount Approved

USD 10,000,000.00

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