DBJ Issues Call for Proposals for Fund Managers for the Establishment & Management of a Venture Capital Fund
The Development Bank of Jamaica (DBJ) through the Government of Jamaica (GoJ) has received financing from the Inter-American Development Bank (IDB) and intends to apply a portion of the proceeds of this loan towards the cost of Boosting Innovation, Growth and Entrepreneurship Ecosystems (BIGEE)Project, specifically to Subcomponent II.2: Facilitating Access to capital for scalable startups for which the Call for Proposal (CFP) is being issued for a Fund Manager.
The Fund Manager will be required to set up/establish and manage the proposed Venture Capital (VC) fund and will be solely and exclusively responsible for the investment and exit decisions. The VC Fund Management Firm will be responsible for: (i) actively seeking deals; (ii) fundraising; (iii) presenting deals to the investment committee; (iv) monitoring performance of approved investments; (v) reporting; and (iv) supporting portfolio companies. The VC Fund Management Firm must be willing to comply with Inter-American Development Bank reporting and monitoring and evaluation requirements of investments, as described in the CFP criteria, applicable investment documents, Operations Manual, and safeguards guidelines as described in the Procedures for the Environmental Impact Assessment of the Subprojects, as well as the Inter-American Development Bank’s provisions on Conflict of Interest.
Details of the CFP may be downloaded here