Mirepa Investment Advisors Ltd closes maiden capital SME fund

Mirepa Investment Advisors Ltd has closed its maiden fund, Mirepa Capital SME Fund I (MCSFI).

The ¢120 million fund was meant to be a missing middle fund providing patient capital to Ghanaian Small and Medium-sized Enterprises (SMEs) in the ¢2.4M – GHS24M range.

Licensed and regulated by the Securities and Exchange Commission (SEC), MCSFI was focused on light manufacturing, technology and cleantech businesses within agribusiness/agroprocessing, education, healthcare, financial services and business services (including industrial and mining support).

The initial round of investors for MCSFI comprised local institutions, including the Venture Capital Trust Fund (VCTF), Petra Trust, Axis Pensions, and various schemes under CAL Asset Management Company Limited (CAMCOL).

Ms. Enyonam Kakane, Executive Director of Mirepa Investment Advisors Ltd emphasised that MCSFI would 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,” she added.

Mr. Yaw Owusu-Brempong, CEO of Venture Capital Trust Fund said VCTF continues to demonstrate its willingness to back and build talented groups of young individuals who are able to combine industry and operational know-how with growth investment expertise to partner 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 has backed MCSFI for their industry knowledge and ability to provide the needed support to identified SMEs whiles 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 GHS 1.5 billion to support SMEs over the same period. We are proud to be associated with MCSFI and call on other investors to come join us make real impact in the lives of entrepreneurs’ whiles growing the Ghanaian economy,” he stated.

Ms. Yvonne Buliga, Head of Portfolio Management, Petra Fund Services said  “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, she said, was their 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,” she added.

Mr. George D. Allotey, CIO of Stanbic Investment Management Services Limited representing Axis Pension Trust Limited) also said that “Axis Pensions is proud to be associated with Mirepa Capital SME Fund I as it focuses on nurturing high-potential SMEs in Ghana.”

According to him, the collaboration aligned with Axis Pensions’ 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,” he added.

Mr. James Elijah Donkoh, CEO of CAL Asset Management Company Limited noted that “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 “