Venture Capital Trust Fund and its partners have invested about $90 million into the SME sector since it was set in 2006, Yaw Owusu-Brempong, CEO of the Fund has said.

“Since it was set up in 2006, I think in all we together with our fund managers, we’ve invested roughly about $90 million into the SME’s in Ghana. We’ve [Venture Capital] contributed about $20 million and our partners who are the fund managers have contributed about $70 million,” he said.

Mr Owusu-Brempong said “that is one of the benefit for us operating as a fund of funds because one of the criteria we look for is that if we give you the funding you should demonstrate your ability to leverage on whatever we’ve given to you to raise additional funds so that the pool becomes larger and then we can serve quite a number of SME’s.”

He said in all the Fund “has six fund companies and all the fund companies together have assisted about 49 SME’s.”

Mr Owusu-Brempong was speaking on the sidelines of the JoyBusiness MasterClass Forum held at the Best Western Premier Accra Airport Hotel.

Some participants at the MasterClass Forum

Under the theme: “Transforming Start-ups & SMEs: Think local, act Global”, the JoyBusiness MasterClass Forum attracted hundreds of participants with panelist discussing topics such as “Innovating to Build a Resilient Business” and “Attracting Financing: The Reality, the ‘Wow’ Factor & The Investor”

Panelists at the MasterClass Forum

The panelists included Dr Kobby Mensah of the University of Ghana Business School, Ken Thompson – CEO of Dalex Finance, Thompson Tsuwa – RtHE Consult, Ethel Cofie – Edel Technology, Kofi Dadzie – Rancard and Derry Dean Dadzie of Dream Oval.