Venture capital in the caribbean current status future prospects
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University of the West Indies International Conference on Business, Banking and Finance. Venture Capital in the Caribbean Current Status, Future Prospects. Jelle Sjoerdsma 27 April 2004. Agenda. Venture Capital in the Caribbean Current Status Global Perspective historical growth trends

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Venture capital in the caribbean current status future prospects

University of the West Indies

International Conference on Business, Banking and Finance

Venture Capital in the CaribbeanCurrent Status, Future Prospects

Jelle Sjoerdsma

27 April 2004


Agenda

Agenda

Venture Capital in the Caribbean

  • Current Status

  • Global Perspective

    • historical growth trends

    • VC industry sizes

  • Future Prospects

    • Caribbean economies

    • VC potential


Caribbean vc status

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


Puerto rico investment m

Puerto Rico Investment (M$)

1,000

source: Puerto Rico Venture Forum


Vc in the caribbean

VC in the Caribbean


Status is mostly immature

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


Global perspective

Global Perspective

VC trends in other countries

  • historical growth

  • economic contributions to GDP


Uk investment

UK Investment

source: British Venture Capital Association


Uk investment gdp

UK Investment / GDP


Usa investment

USA Investment

106,000

source: National Venture Capital Association


Usa investment gdp

USA Investment / GDP

1.06 %


2002 vc investment gdp

2002 VC Investment / GDP (%)

source: 3i, EVCA, PricewaterhouseCoopers


Caribbean prospects

Caribbean Prospects

Top-down review of economies

VC Potential

  • countries

  • investment sizes

    Conclusions


Caribbean 2002 economies

Caribbean 2002 Economies


Population million

Population (million)

Bahamas0.3

Cuba11.3

Puerto Rico3.9

Caymans0.0

Guadeloupe0.4

Jamaica2.6

Haiti8.3

Dom Rep8.6

Barbados0.3

Trinidad1.3


Gdp us billion

GDP (US$ billion)

Bahamas5.1

Cuba13.2

Puerto Rico67.9

Caymans1.8

Dom Rep21.3

Guadeloupe4.5

Jamaica8.4

Barbados2.6

Trinidad9.4


Gdp per capita us 000

GDP per capita (US$ 000)

Bahamas16.2

Turks10.3

Cuba1.2

Antigua9.4

Dom Rep2.5

Caymans43.3

Jamaica3.2

Guadeloupe10.3

Puerto Rico17.6

Barbados9.6

Trinidad7.3


Vc potential

VC Potential

Bahamas5.1 0.3 16.2

countryGDP pop /cap

Puerto Rico67.9 3.9 17.6

Jamaica8.4 2.6 3.2

Guadeloupe4.6 0.4 10.3

Martinique

cutoff limits

> 1.0 1.0 5.0

> 1.0 0.2 5.0

> 1.0 0.2 3.0

Barbados2.6 0.3 9.6

Trinidad9.4 1.3 7.3


Annual investment potential

Annual Investment Potential

Assume annual investment at 0.1 % of GDP


Conclusions

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


Venture capital in the caribbean current status future prospects

Q & A

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