TLDR:
- Venture Capital Trust Fund (VCTF) announces two key initiatives – Venture Capital Analyst Programme (V-CAP) and Fund Manager Development Programme (FMDP) to boost the venture capital and private equity sector.
- Ghana’s venture capital market is projected to reach a total capital raised of US$290.3 million by 2024, with the Later Stage sector dominating the market.
The General Manager of VCTF, Percival Ofori Ampomah, highlighted the importance of these initiatives in nurturing talent and building capacity for the next generation of fund managers to sustain the industry’s growth. The V-CAP and FMDP programs aim to address the skills gap in the Later Stage sector, providing training to local investors and institutions.
The VCTF has played a significant role in establishing the Ghana Venture Capital and Private Equity Association (GVCA) to create a more structured venture capital ecosystem in Ghana. These initiatives come at a crucial time for the country’s economy, with SMEs contributing significantly to the GDP and employment.
Despite the projected market growth, challenges remain, including a funding gap of over US$82 million to support SMEs. VCTF is also working on legal reforms to attract more foreign investment and support the growing market by implementing a Limited Partnership Act.
