West African Venture Fund LLC


$40million investment opportunity in Liberia and Sierra Leone


The West Africa Venture Fund (WAVF) is a Mauritius registered Fund, with operations in Liberia and Sierra Leone, with provision of US$40 million capital financing to emerging growth SMEs in both countries.

WAVF at a Glance

West African Venture Fund LLC (WAVF), has a target deal size of US$100,000 - US$500,000 with a goal of a minimum of 40 “Bottom of the pyramid” SME Equity investments in each of Liberia and Sierra Leone and a target returns of 25 – 30%. The investment model is based on optimum combination of risk capital and massive dose of technical assistance services and hands-on management of investee companies, to achieve long term value creation. The Fund already has US$12.5 million committed seed capital by the anchor investor, the IFC.
WAVF is managed by Unique Venture Capital (UVC). Manager of SMEEIS Funds of three major Nigerian banks, UVC has invested over US$32 million in the last four years in 53 projects with 8, exits and an annualized average return of over 34%.
           
 
     


Why the WAVF LLC?

Post war emerging economies, under good democratic leadership and appropriate international support offer specific and significant investment opportunities not available in others as businesses in Japan, South Korea, West Germany have proven. These same conditions exist today in Liberia and Sierra Leone.
In developing countries like Liberia and Sierra Leone, small businesses generate the largest share of economic activities and employment. Well structured small businesses in these economies usually have first mover advantages and monopolies or near monopolies that usually offer good investment opportunities.
Returns in the emerging markets of Africa are higher than in most other markets. The fund manager’s key strategy of providing a combination of risk capital and a large dose of technical advisory support and assistance, will enhance catalyzing the growth of small business in these emerging markets and opportunities to reap from the value created thereof.
The Fund offers a unique opportunity for investors to invest and earn good returns, whilst helping to kick-start and/or catalyze the growth of small businesses in the emerging and dynamic post war economies of Liberia and Sierra Leone.
Unique opportunity to invest in the early stages of a significant market shift from an informal to a formal economy.
                             
   

The Fund

 

West Africa Venture Fund LLC a limited company to be registered in Mauritius.

 Manager 

WAVF Management LLC, a UVC owned Mauritius Limited Life

Company

 

The Offer

 

A unique opportunity for investors to potentially earn good returns, while helping to kick-start the growth of sustainable small businesses in the emerging and dynamic post-war economies of Liberia and Sierra-Leone, delivering on all three bottom lines.

 

Strategic Objectives

 

To make social and environmentally sound equity investments in “bottom of the pyramid” SME’s for capital appreciation.

 

Region

Liberia and Sierra Leone

 

Term

10 years

 

Fund Size

$40million

 

Minimum Investor Commitment

$2.5million

 

General Partner Commitment
Interest 

1% of the aggregate capital Commitments to the fund.

 

Management Fee

3%

 

Investment Size

US$100,000 – US$500,000

 

Target Returns

20 -30%

 

GP Carried

20%

 

Investment Committee

At least five members, constituted by the General Partners

 

Advisory Board

 

At least five members constituted by the Limited Partners

 

 

     
 

Investment Strategy

Leverage the combination of the proven capability of the investment manager (UVC) and the massive base and network of the international institutional anchor investor (IFC).
Leverage the combination of risk capital, strong advisory services and hands-on management to create significant shareholder’s value.
Proactively target investments that offer:

         Significant growth potentials
        captive markets with sustained growth in per capital consumption
         High export potential;
         High cash flow generating business
         Strong management team.
         Critical and pivoting in important sectors/niches of the economy that offer good returns to both society and investors

Operate a disciplined investment process anchored by effective deal screening, vigorous investment analysis, tedious and thorough due diligence, a virtual “hands and legs-on” management process and a very proactive exit strategy.

Diversify risk profile of the investment portfolio by investing in different company growth stages, operating sectors and regions in the target economies.

Investment Focus

Social and environmentally sound SMEs in all viable economic sectors.
All growth stages, including start ups to expansions.
Investment size of US$100,000 - US$500,000.
Typical investment profile

        Clear cut line of business with proven business model
        Sizeable positive net cash flow
        Clear key drivers that drive a clear commercial advantage
        Effective management with captive market that needs capital and/or technical assistance to grow

Target Sectors: Agribusiness, Manufacturing/industrials, retail/consumer, leisure and tourism, real estate and construction, mining, media and telecommunication and financial services.
Target Countries: Liberia and Sierra Leone

How to Access Fund

To access the WAVF, your business must be located in either Liberia or Sierra Leone
Your requirement shall not exceed US$500,000
There must be a clear cut line of business with proven business model and clear key drivers that drive a clear commercial advantage.
Contact Us
  Eva Bakonyi
Fund raising/Advisory Services.
IFC, International Finance Corporation
World Bank Group
2121 Pennsylvania Avenue, NW
Washington, DC 204333 USA
Telephone: (27) 11 731 3000
Mobile: (22) 83 441 2422
ebakonyi@ifc.org


Dr. Anthony Osa. Oboh
MD/CEO
Unique Venture Capital Management Company Ltd
40 Marina, Lagos, Nigeria
Mobile +234 8023153252, 8038201279
anthonyoboh@wavfonline.com

  Sergio Pombo
Private Equity & Investment Funds,
IFC, International Finance Corporation
World Bank Group
2121 Pennsylvania Avenue, NW
Washington, DC 204333 USA
Telephone +202-473-0222
Mobile +202-471-0428
Facsimile 202-522-0597
spombo@ifc.org
   
Godwin Iyere Isuekebhor
Unique Venture Capital Management Company Ltd
40 Marina, Lagos, Nigeria
Mobile: +234 7027177664, 7039856995
godwinisuekebhor@wavfonline.com
               
     
             
                             
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