Mirepa Investment Advisors Ltd., a licensed investment advisor based in Ghana, has announced the successful initial close of its maiden fund, Mirepa Capital SME Fund I (MCSFI). The GH¢120million-fund is meant to be a missing middle fund, providing patient capital to Ghanaian small and medium-sized enterprises (SMEs) in the GH¢2.4M–GH¢24M range.
Its prime focus is on light manufacturing, technology, and cleantech businesses within the following sectors: agribusiness/agroprocessing, education, healthcare, financial services, and business services (including industrial and mining support). This milestone achievement positions the fund as the second in Ghana to be anchored solely by local investors, led by the Venture Capital Trust Fund (VCTF) and key pension funds, following in the footsteps of Injaro’s IGVCF fund.
The initial round 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.
Mirepa Capital SME Fund I aims to provide patient capital to ultra high-growth SMEs throughout the country, contributing to economic expansion, job and wealth creation, and exciting returns for its investors. By strategically investing in promising SMEs, MCSFI seeks to unlock their full potential and empower them to thrive and fuel Ghana’s economic growth.
Ms. Enyonam Kakane, Executive Director of Mirepa Investment Advisors Ltd., emphasised the firm’s commitment to gender lens investing and job creation, stating that MCSFI will play a crucial role in creating jobs, driving economic prosperity, and fostering sustainable development in Ghana by investing in high-growth SMEs. Mirepa Investment Advisors is dedicated to making a positive impact through MCSFI’s investments, especially under its gender lens investing strategy, which ensures that MCSFI actively seeks opportunities to support and empower portfolio businesses to be inclusive and female-friendly.
Representatives from each participating institution also expressed their views on the significance of this milestone:
Mr. Yaw Owusu-Brempong, CEO of Venture Capital Trust Fund: “VCTF continues to demonstrate its willingness to back and build talented groups of young individuals who can combine industry and operational know-how with growth investment expertise to partner with exciting SMEs in strategic sectors of the Ghanaian economy. Venture Capital Trust Fund is selective in our choice of fund managers through competitive processes, and have backed MCSFI for their industry knowledge and ability to provide the needed support to identified SMEs while accelerating growth. This investment is a continuation of our strategic plan to invest in promising fund managers over the next five years. VCTF intends to deploy GH¢1.5billion to support SMEs over the same period. We are proud to be associated with MCSFI and call on other investors to come join us in making a real impact on the lives of entrepreneurs while growing the Ghanaian economy”.
Ms. Yvonne Buliga, Head of Portfolio Management, Petra Fund Services: “We are delighted to be a part of this moment as Mirepa Investment Advisors closes the first round of funding for Mirepa Capital SME Fund I. By supporting the growth of SMEs, we believe that we are contributing our quota to driving innovation across industries and investing in the future of Ghana’s economy. We are confident that this fund will not only support our schemes’ mandate to unlock value for their members, but also contribute significantly to job creation and economic development”.
Mr. George D. Allotey, CIO of Stanbic Investment Management Services Limited (representing Axis Pension Trust Limited): “Axis Pensions is proud to be associated with Mirepa Capital SME Fund I as it focuses on nurturing high-potential SMEs in Ghana. This collaboration aligns with our commitment to promoting sustainable investments that deliver both financial returns and positive social impact. We believe that the success of this fund will unlock new avenues of growth for SMEs, and pave the way for a thriving entrepreneurial ecosystem in the country”.
Mr. James Elijah Donkoh, CEO of CAL Asset Management Company Limited: “CAL Asset Management deems the introduction of the MCSFI a timely development on the market. As such, it is our fervent hope that the managers and directors of the fund will exercise the same high level of professionalism and diligence exhibited throughout the engagement and book building process in selecting investments for the fund, thereby generating significant value for all stakeholders”.
Mirepa Capital SME Fund I is licensed and regulated by the Securities and Exchange Commission (SEC) of Ghana. Mirepa Investment Advisors are grateful for the trust and support shown by its investors, and looks forward to working closely with Ghana’s SMEs to create a lasting impact on the nation’s economic landscape.
