{"id":10259,"date":"2022-12-03T17:08:41","date_gmt":"2022-12-03T17:08:41","guid":{"rendered":"https:\/\/www.africa-press.net\/cape-verde\/all-news\/pro-impact-fund-launched-on-monday"},"modified":"2022-12-03T17:08:41","modified_gmt":"2022-12-03T17:08:41","slug":"pro-impact-fund-launched-on-monday","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/cape-verde\/all-news\/pro-impact-fund-launched-on-monday","title":{"rendered":"Pro Impact Fund launched on Monday"},"content":{"rendered":"

Africa-Press – Cape verde. <\/strong><\/span>Investment Capital Partners SA, which presents itself as a Cape Verdean financial management company, launches this Monday, 5th, in Praia, the Fundo Pro Impacto (FPI). This is his first Private Equity (Venture Capital) fund in Cape Verde. The same goes for small and medium-sized companies.<\/p>\n

The FPI, as they explain in a press release, is a Private Equity Impact Fund created to support local small and medium-sized enterprises (SMEs), giving them \u201coperational agility\u201d.<\/p>\n

aims to help them implement their expansion plans and respond to macroeconomic challenges, fill gaps in technical and management skills, in addition to addressing limited access to capital.<\/p>\n

This fund is the result of a public-private partnership between Pro-Capital, the Government of Cape Verde’s venture capital vehicle, WATIH, a trading and investment platform for West Africa, funded by USAID, the World Bank and Injaro Investments Limited.<\/p>\n

Improve access to long-term finance<\/p>\n

The same, as they explain, was created as a direct response to the adverse effect of the COVID-19 pandemic on the private sector, mainly to improve access to long-term financing for SMEs.<\/p>\n

Adalgiza Vaz, Secretary of State for Business Development argues that \u201cthe Pro Impacto platform is of great importance because it will complete the Government’s action to leverage the private sector to support SME companies in Cape Verde.\u201d<\/p>\n

Over the next 10 years, they predict that the fund will make average individual investments of \u20ac400,000 in key sectors of the economy, including fisheries, tourism, food and agribusiness, inclusive financial services, etc.<\/p>\n

Joa\u0303o Silva, Country Manager at ICP recalls that \u201cSMEs are the engine of the country’s economic prosperity and the PIF will provide the necessary capital and operational agility for them to expand over time\u201d.<\/p>\n

The fund’s impact targets are the creation of 120 new jobs, doubling the participation of women in management positions, the development of local youth and the food security of at least 1,500 people.<\/p>\n

Frantz Tavares, from Trade HUB, co-sponsor of the program through USAID, adds that the program was created to generate up to US$5 million in export revenues, \u201cpreserving and creating jobs and providing products and services in key sectors\u201d.<\/p>\n

USAID-Trade Hub<\/p>\n

The USAID-funded West Africa Trade & Investment Hub (WATIH) is a 5-year, $140 million trade and investment facilitation program designed to improve the productivity, profitability and competitiveness of the private sector in West Africa through market-based approaches.<\/p>\n

Working in partnership with the private sector and promoting co-investments through a Co-Investment Fund, Trade Hub generates new equity investments in key sectors to create jobs and enhance trade relations between the United States and West Africa.<\/p>\n

pro capital<\/p>\n

Pro\u0301-Capital is a State-owned Venture Capital Financial Institution that invests in established companies and startups with high potential for growth and development. By entering the capital stock of companies, Pro-Capital provides resources to make businesses grow.<\/p>\n

Investment Capital Partners, SA<\/p>\n

Investment Capital Partners, SA is an investment management company licensed by the Bank of Cape Verde and is part of an international fund management group that manages investments throughout sub-Saharan Africa, Injaro Investments Limited, with experience in the areas of private equity , advice on corporate finance, asset management, management consulting and project management.<\/p>\n

For More News And Analysis About Cape verde<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Cape verde. Investment Capital Partners SA, which presents itself as a Cape Verdean financial management company, launches this Monday, 5th, in Praia, the Fundo Pro Impacto (FPI). This is his first Private Equity (Venture Capital) fund in Cape Verde. The same goes for small and medium-sized companies. The FPI, as they explain in […]<\/p>\n","protected":false},"author":84,"featured_media":10258,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,7,12],"tags":[233,331,328],"class_list":["post-10259","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-head-lines","category-policy","tag-africa-press","tag-africa-press-cape-verde","tag-cape-verde"],"yoast_head":"\nPro Impact Fund launched on Monday - Cape Verde<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/cape-verde\/all-news\/pro-impact-fund-launched-on-monday\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Pro Impact Fund launched on Monday - Cape Verde\" \/>\n<meta property=\"og:description\" content=\"Africa-Press – Cape verde. Investment Capital Partners SA, which presents itself as a Cape Verdean financial management company, launches this Monday, 5th, in Praia, the Fundo Pro Impacto (FPI). This is his first Private Equity (Venture Capital) fund in Cape Verde. The same goes for small and medium-sized companies. 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