At least 627 venture-capital firms are majority-owned by women and/or ethnic minorities in the United States as of last year.
Now, according to a recent announcement, Jamaica is joining that list as well.
Black Pearl Global Investments (BPGI), an asset management firm headed by Dr. Dr. Shante Williams, marks the first VF-firm in the Caribbean country that’s led by a Black woman. The company is focused on deploying investment capital to companies focused on improving social determinants of health in North America, Africa, and the Caribbean.
“Jamaica was a natural fit for our Caribbean Headquarters, one of co-founders Dr. Carl Smart was born and raised here,” Williams said in a report from Barbados Today. ” Establishing our first Caribbean office here was deeply personal and it will act as an anchor for all of our activities throughout the region. We are here to support the health sector with a mix of solutions for both debt and equity capital partnership. BPGI’s expertise is in supporting entrepreneurs grow their businesses — not only with capital deployment but with access to network and knowledge necessary to advance an organization.”
Reportedly, they have closed their latest venture with Goldman Sachs as lead broker and have recently entered brokered an agreement to acquire Florida-based contact lens manufacturer, Hydrogel Vision Corp. (HVC).
“Our ticket sizes are in the range of US$10,000 – 750,000 and we are excited to support the Caribbean market. The investment strategy focuses primarily on Caribbean companies with a global potential.
“We are seeking to accelerate the Caribbean as an innovator in the healthcare sector, so we want to partner with visionary founders that are redefining how healthcare is provided and consumed whilst delivering better outcomes for all,” said Daniel Smart, Director of the Caribbean.