Technical Assistance Program
VCTF does not provide only funding, but it also offers Technical Assistance to investee SMEs.
The Technical Assistance Program adopts a three-tier strategic approach in the provision of best business practices and professional ser vices to SMEs
These are:
• Management training and capacity building for staff of investee companies.
• Corporate matching and retired executive mentoring through an executive program Here, the SME is matched with a big and efficient company in t
Venture Capital Finance Companies ma sectors of the economy. The investmen are either star t-ups or in growth or exp
management,
etc
Stages +233 [0] 540 111 751 +233 [0] 540 111 752
INTRODUCTION
The Venture Capital Tr ust Fund (VCTF) was established by Venture Capital Tr ust Fund ACT, 2004, (ACT 680) to provide financing to Small and Medium-Scale Enterprises (SMEs).
The objective is to promote and suppor t the private sector as an equal par tner in achieving the countr y’s developmental goals by easing access to long-term funding to SMEs.
OUR MANDATE
In accordance with the ACT, VCTF is to provide financial resources for the development and promotion of venture capital financing for SMEs in Ghana by:
i. Providing financing to eligible Venture Capital Finance Companies (VCFCs) to suppor t SMEs
ii. The provision of monies to suppor t other activities and programs for the promotion of venture capital financing.
OUR MISSION
To provide an alternative source of funding to SMEs that will lead to efficient and profitable operations to create jobs and wealth
OUR VISION
Our vision is to create a vibrant and well-str uctured venture capital industr y boasting of investments in various sectors, leading to pover ty reduction through job and wealth creation with a collateral growth in government revenues
MODE OF OPERATION
• VCTF operates through Institutional Par tners, who form joint-venture arrangements to establish Venture Capital Finance Companies (VCFC). Each VCFC is managed by a Fund Manager, licensed as an Investment Advisor by the Securities and Exchange Co mmiss io n ( SEC) .
• VCFCs act as intermediaries between SMEs requiring funds for viable business projects and the Trust Fund. Investment proposals are received and reviewed by the Fund Managers of VCFCs, who have the mandate to decide on investments af ter an approval process by the Investment Committees of their respective Boards
• VCFCs are encouraged to invest in all sectors of the eco n o m y, b ut a r e pr ecl ud e d f r o m in ves ting in businesses that engage in direct impor ts to sell. The current maximum funding limit is 10% of total capitalization of a VCFC and a minimum of US$25,000
• For the purposes of VCFC investments, an SME is defined under the VCTF Act as a business whose total assets base, excluding land and building, does not exceed the cedi equivalent of US$1 million and whose total number of employees does not exceed 100 persons.
OUR IMPACT
Since its inception, the VCTF has made a tremendous impact on venture capital financing in Ghana.
Investee companies
Direct Jobs
Indirect jobs
= 58 = 3400+ = 13,500+
The Tr ust Fund was instr umental in creating the Ghana Alternative Market (GAX), an alternate listing on Ghana’s stock market specifically established for companies with significant growth potential, which was opened in 2013.
In 2011, VCTF established the Ghanaian Angel Investor Network (GAIN) to formally organize wealthy individuals to invest in and mentor entrepreneurs GAIN is the first angel investor network and is to promote angel investing as an alternative form of financing business star t-ups in Ghana The Tr ust initiated discussions with the National Pensions Regulator y Authority, to influence local Pension Funds to direct funds to the industr y to suppor t Ghana’s economic development.
VCTF collaborated with the Ghana Stock Exchange to promote Small and Medium-Scale Enterprises (SMEs) listing project and established a listing assisting fund dedicated to helping SMEs cover the upfront cost required to list on the Market. The VCTF has placed Ghana as a leader in the African venture capital field by hosting industr y related events which continue to attract VC/PE firms into the countr y
