Mirepa Investment Advisors Ltd., an authorized investment advisor operating in Ghana, is thrilled to announce the successful Initial Close of its inaugural fund, the Mirepa Capital SME Fund I (MCSFI). The Fund, with a capital of GHS 120 million ($10.5M), aims to fill the funding gap for Ghanaian small and medium-sized enterprises (SMEs) in the range of GHS 2.4M to GHS 24M ($200K — $2M), providing patient capital support.
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Focusing primarily on light manufacturing, technology, and cleantech ventures, MCSFI targets businesses within the agribusiness/agroprocessing, education, healthcare, financial services, and business services sectors, including industrial and mining support. This milestone achievement establishes the Fund as the second in Ghana to be anchored solely by local investors, led by the Venture Capital Trust Fund (VCTF) and prominent pension funds, following the precedent set by Injaro’s IGVCF fund.
The initial group of investors for Mirepa Capital SME Fund I comprises distinguished local institutions, including the Venture Capital Trust Fund (VCTF), Petra Trust, Axis Pensions, and various schemes under CAL Asset Management Company Limited (CAMCOL). Their support demonstrates a strong commitment to fostering the growth of SMEs in Ghana.
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Mirepa Capital SME Fund I aims to provide patient capital to high-growth SMEs across the country, contributing to economic expansion, job creation, wealth generation, and exciting returns for its investors. By strategically investing in promising SMEs, MCSFI seeks to unlock their full potential and empower them to thrive, thus fueling Ghana’s economic growth.
Ms. Enyonam Kakane, executive director of Mirepa Investment Advisors Ltd., highlighted the firm’s dedication to gender lens investing and job creation, emphasizing that MCSFI will play a pivotal role in creating jobs, driving economic prosperity, and fostering sustainable development in Ghana by investing in high-growth SMEs. Mirepa Investment Advisors is committed to making a positive impact through MCSFI’s investments, particularly under its gender lens investing strategy, which actively supports and empowers portfolio businesses to promote inclusivity and gender diversity.
Representatives from each participating institution also shared their perspectives on the significance of this milestone:
- [Mr. Yaw Owusu-Brempong, CEO of Venture Capital Trust Fund]: Commended the VCTF’s support for talented young individuals partnering with SMEs in strategic sectors of the Ghanaian economy. The VCTF’s investment in MCSFI aligns with its strategic plan to support promising fund managers and SMEs in the country.
- [Ms. Yvonne Buliga, Head of Portfolio Management, Petra Fund Services]: Expressed delight in being part of Mirepa Investment Advisors’ first funding round, believing that supporting SME growth contributes to driving innovation and securing the future of Ghana’s economy.
- [Mr. George D. Allotey, CIO of Stanbic Investment Management Services Limited (representing Axis Pension Trust Limited)]: Proudly associated Axis Pensions with Mirepa Capital SME Fund I, highlighting the focus on nurturing high-potential SMEs and promoting sustainable investments with positive social impact.
- [Mr. James Elijah Donkoh, CEO of CAL Asset Management Company Limited]: Welcomed the introduction of MCSFI as a timely development in the market and expressed hope for the Fund’s professionalism and diligence in generating significant value for stakeholders.
Mirepa Capital SME Fund I operates under the regulation of the Securities and Exchange Commission (SEC) of Ghana. Mirepa Investment Advisors extend their gratitude for the trust and support shown by investors and eagerly anticipate working closely with Ghana’s SMEs to create a lasting impact on the nation’s economic landscape.
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africa’s burgeoning tech startup industry. He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc.), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. He’s also a corporate governance and cross-border data privacy and tax expert.
As an award-winning writer and researcher, he is passionate about telling the African startup story, and is one of the continent’s pioneers in this regard