Over the past few days one may hear on the radio read in the press the utter garbage (with exception of legal framework for tax breaks for investors) for the so called venture capital program or worst venture capital industry for Jamaica. Venture Capital is not an Industry like Call Centres.
Truth be told the sector existed for decades ion Jamaica and technically can operate under existing FSC laws or with introduction and amendments of existing laws.
TDB eyes IT venture fund
Start-up companies get equity
Aubyn Hill’s new venture – Venture capital firm starts up next January
ICWI winds up Carib equity fund – Falls short of 10-year target
“Michael Lee Chin’s Caribbean venture capital outfit is close to wrapping up a new deal to invest up to US$40-50 million in the region, and plans to announce the acquisition as early as next week.”
Source: New asset purchase – But no sale yet for Columbus – Third Caribbean investment fund under negotiation
Sagicor Structures Venture Capital Financing For New Medical Company
ANGEL LIST JAMAICA (AngelistJa)
There is even talk of the registration of Anglelistja. But the fact of the matter is such a list exist already with investors who follow Jamaica. Such as the chick from Yahoo Marissa Mayer formerly of Google at the top of that list.
You may see the list here https://angel.co/jamaica/investor
In fact Jamaica Angel Investors who follow Jamaica shows a total of 2,523 investors https://angel.co/jamaica/investors. So I have no idea why these clowns at the DBJ would want to set up a rival network, when all they have to do is expand on one of the largest existing network that raises between US$10 million to US$12 million per month investments for start ups or JM$1.12 billion to $1.34 billion per month.
There are currently 27 – 29 start ups listed on angelist network from Jamaica. https://angel.co/jamaica?order_by=popular_week
The jokers even speak of establishing fund mangers who meet their criteria to manage VC funds that will be geared towards local companies.
I have never heard or seen such rubbish in my life, as all they are doing is creating barriers to entry, selecting which set will eat at the trough first.
SO SHE WANTS PROOF – CAN YOU DIGG IT?
For starters women play an insignificant role in Venture Capital globally period. So how is it that they are playing a major role in Jamaica? In fact some are Danger Elements.
Frankly I do not believe they have the capacity to see past the cracks hiding behind their make up each day. As such cannot see innovation and real talent and trail blazers when they confront them, as they confuse what is important from what is not. Continue reading