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Venture Capital in the Caribbean
Venture Capital in the Caribbean
Venture Capital in the Caribbean
Venture Capital in the Caribbean
Venture Capital in the Caribbean
Venture Capital in the Caribbean
Venture Capital in the Caribbean
Venture Capital in the Caribbean
Venture Capital in the Caribbean
Venture Capital in the Caribbean
Venture Capital in the Caribbean
Venture Capital in the Caribbean
Venture Capital in the Caribbean
Venture Capital in the Caribbean
Venture Capital in the Caribbean
Venture Capital in the Caribbean
Venture Capital in the Caribbean
Venture Capital in the Caribbean
Venture Capital in the Caribbean
Venture Capital in the Caribbean
Venture Capital in the Caribbean
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Venture Capital in the Caribbean

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  • 1. Venture Capital in the Caribbean Current Status, Future Prospects Jelle Sjoerdsma 27 April 2004 University of the West Indies International Conference on Business, Banking and Finance
  • 2. Agenda
    • Venture Capital in the Caribbean
    • Current Status
    • Global Perspective
      • historical growth trends
      • VC industry sizes
    • Future Prospects
      • Caribbean economies
      • VC potential
  • 3. Caribbean VC Status
    • 1492: Columbus “discovered” the West Indies after receiving VC
    • early 1990’s: several local initiatives in some countries
    • mixed results: failures, mergers, survivors
    • Puerto Rico is in class by itself
  • 4. Puerto Rico Investment (M$)
    • source: Puerto Rico Venture Forum
    1,000
  • 5. VC in the Caribbean 20 5 Trinidad 6 1 St. Lucia ? 8 Puerto Rico 60 2 Jamaica 20 3 Barbados capital (M$) firms country
  • 6. Status is Mostly Immature
    • Puerto Rico is a maturing market, with strong influence from USA
    • Rest of Caribbean is
      • led and managed locally
      • only a few active firms per country
      • small in scale
      • making slow progress
  • 7. Global Perspective
    • VC trends in other countries
    • historical growth
    • economic contributions to GDP
  • 8. UK Investment
    • source: British Venture Capital Association
  • 9. UK Investment / GDP
  • 10. USA Investment
    • source: National Venture Capital Association
    106,000
  • 11. USA Investment / GDP 1.06 %
  • 12. 2002 VC Investment / GDP (%) source: 3i, EVCA, PricewaterhouseCoopers
  • 13. Caribbean Prospects
    • Top-down review of economies
    • VC Potential
    • countries
    • investment sizes
    • Conclusions
  • 14. Caribbean 2002 Economies 9,410 0.012 0.112 Anguilla 10,345 0.021 0.216 Turks 3,628 0.071 0.258 Dominica 7,732 0.046 0.356 St. Kitts 3,308 0.109 0.361 St. Vincent 3,911 0.103 0.401 Grenada 4,251 0.159 0.677 St. Lucia 9,426 0.077 0.721 Antigua 43,305 0.043 1.841 Caymans 9,595 0.271 2.598 Barbados 434 8.300 3.600 Haiti 10,323 0.440 4.542 Guadeloupe 10,723 0.426 4.568 Martinique 16,193 0.312 5.050 Bahamas 3,190 2.622 8.365 Jamaica 7,345 1.276 9.371 Trinidad 1,172 11.300 13.245 Cuba 2,477 8.600 21.300 Dom Rep 17,575 3.863 67.900 Puerto Rico GDP/capita (US$) population (M) GDP (US$ B) Country
  • 15. Population (million) Caymans 0.0 Cuba 11.3 Jamaica 2.6 Dom Rep 8.6 Haiti 8.3 Puerto Rico 3.9 Barbados 0.3 Trinidad 1.3 Bahamas 0.3 Guadeloupe 0.4
  • 16. GDP (US$ billion) Trinidad 9.4 Barbados 2.6 Puerto Rico 67.9 Cuba 13.2 Bahamas 5.1 Jamaica 8.4 Caymans 1.8 Dom Rep 21.3 Guadeloupe 4.5
  • 17. GDP per capita (US$ 000) Caymans 43.3 Jamaica 3.2 Cuba 1.2 Bahamas 16.2 Turks 10.3 Dom Rep 2.5 Puerto Rico 17.6 Trinidad 7.3 Barbados 9.6 Guadeloupe 10.3 Antigua 9.4
  • 18. VC Potential country GDP pop /cap Trinidad 9.4 1.3 7.3 Puerto Rico 67.9 3.9 17.6 Barbados 2.6 0.3 9.6 Bahamas 5.1 0.3 16.2 Jamaica 8.4 2.6 3.2 Martinique Guadeloupe 4.6 0.4 10.3 cutoff limits > 1.0 1.0 5.0 > 1.0 0.2 5.0 > 1.0 0.2 3.0
  • 19. Annual Investment Potential Assume annual investment at 0.1 % of GDP 8 Jamaica 3 Barbados 5 Bahamas 9 Trinidad 68 Puerto Rico US$ million country
  • 20. Conclusions
    • Only a few Caribbean countries can sustain a local VC industry
    • VC activities, outside Puerto Rico, are small
    • Scope for new initiatives is limited
    • Experiences from other countries indicate that modest growth and long-term sustainability is achievable
  • 21. Q & A
    • www.dynamic-equity.com

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