The renaming of SSL Venture Capital Jamaica Limited (SSLVC) to MFS Capital Partners Limited will see the private equity financier shifting its focus from investing in start-up operations to more established companies.

Speaking at the relisting ceremony at the Jamaica Stock Exchange in downtown Kingston last Thursday (August 25), Director Anika Jengelley, representing Chairman C Leopold Nesbeth, said the company is also considering fund-raising to support the company’s activities.

“As a board we believed it was an important and necessary step to rebrand this company. For one, our business model will be different; whereas, previously, the company invested in start-ups, we will now focus on taking positions or fully acquiring more mature companies,” she said.

“Secondly, given that the new parent company has its very own corporate identity, deeply rooted in its own vision, mission, and core values, we wanted to ensure that our company would benefit from the goodwill that our new parent company, MFS Group, has amassed over the greater part of the last decade,” Jengelley added.

In May MFS Acquisition Limited completed a 79 per cent acquisition of shares in SSLVC after submitting an offer to purchase 100 per cent. This transaction also resulted in change of the company’s board composition.

The name change was, however, not the first for SSLVC, which, in 2018, rescued C2W Music Limited. Thereafter it acquired stakes in Bar Central limited, Muse 360 Integrated Limited, and Blue Dot Data Intelligence Limited.

Now under a new management and a new name, MFS Capital Partners aims “to generate sustainable value for our shareholders by adopting a proactive but disciplined approach to our investments,” Jengelley shared.

“Our primary focus at this time is to capitalise the company so that we are poised to take advantage of opportunities as we identify them in the market,” she continued.

When asked about the medium through which the company plans to raise capital, she told the Jamaica Observer’s Sunday Finance that the company is still considering all options at this time.

“We have narrowed down…we’re still doing our due diligence to determine how we’ll go about it,” Jengelly explained.

With its sights set on expansion, the company is also focused on increasing revenue while maintaining a “lean operation” and “lean team”, relying on the expertise of its board of directors, which has more than 100 years of combined experience in banking, finance, and real estate.