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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



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



Usa investment
USA Investment

106,000

source: National Venture Capital Association



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



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


Q & A

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