With Proven Group Limited co-founder Christopher Williams retiring from his executive duties at the end of January, several questions have been swirling around about his next moves going forward. While some people have speculated about his next move –whether to enter politics or start a new venture– the seasoned businessman has shot down these rumours and intends to set the record straight in this Business Observer exclusive.

Williams announced in July that he would be retiring as CEO of Proven Management Limited, the investment manager of Proven Group, and would be focusing on different opportunities. Co-founder Johann Heaven was announced as his successor to execute the strategies to further grow Proven Group.

The move to retire from the executive office has come as a strange event to some people who couldn’t grasp why the 56-year-old businessman would want to retire early. Although this isn’t an uncommon event, it still drew questions from observers.

Williams is now moving to reiterate that he isn’t leaving Proven Management or will stop contributing to Proven Group’s success as he shifts his focus towards venture capital, mentorship, and the Professional Football Jamaica Limited (PFJL), the entity that oversees the Jamaica Premier League (JPL) for which he currently serves as chairman. He still retains an 18 per cent interest in Proven Management and remains a director. He also intends to continue increasing his stake in Proven Group, for which he is the ninth-largest shareholder, with a 1.7258 per cent stake.

“We have a strong plan towards growing EPS (earnings per share). We have identified four pillars, and we’re locked in on growing the four pillars: banking, wealth, properties, and private capital. It’s just a change in formation, but not a change in the team,” Williams told the Jamaica Observer recently.

Whereas private equity was the foundation for Proven Group (formerly Proven Investments Limited), Williams will now be directing his attention to venture capital to provide both capital and guidance to young companies.

Private equity typically focuses on acquiring a majority interest or all of an established business with a focus to either sell a portion or all of it at a higher price to return value for shareholders. Venture capital is more so focused on acquiring smaller stakes in SMEs (small and medium enterprises) or start-ups/young companies with the potential for long-term growth. Unlike private equity which tends to carry less risk and more avenues for monetisation, venture capital carries a lot more risk since the small company might fail to scale to a higher level.

Despite those odds, Williams will be making a field kick at the space. He even added, “I believe that access to capital is a critical need for us to push the GDP (gross domestic product) growth that has been so elusive. So I’ll remain committed to that [focus]. Right now I have about 10 portfolio companies that I work with, and they keep me busy.”

Williams was appointed as the mentor of Medical Disposables and Supplies Limited, a listed Junior Market company on the Jamaica Stock Exchange (JSE), on August 13. This is his first public mentorship role, with further opportunities to potentially guide other companies that have future plans to list on the JSE.

He even mentioned his past experience as the chairman of the Branson Centre Caribbean, being the founding chairman of the Caribbean Alternative Investment Association (CARAIA), and part of the Junior Market committee when he was the JSE deputy chairman between 2007-2009.

His other passion is to improve the value attributed to Jamaica Premier League, which he sees as a big opportunity to scale. Several businessmen and investors have invested in different clubs in the last four years and the chairman is intent on creating new opportunities for the sport in Jamaica.

“I feel that professional football is critical to the development of the sport of football. We’ve done some good work over the last four years in driving monetisation opportunities for professional football and we still have a long way to go. So that is also going to dominate a lot of my time, Williams added.

Despite his shift from the field (executive suite) to the bench (boardroom), Williams will continue working with the Proven Group team to grow the different pillars. The wealth pillar is led by Simona Watkis and Luwanna Williams; Cindy Jn Baptiste and Nikita Kissoon lead the bank pillar; Aisha Campbell leads the property pillar; with Nerisha Davis Farquharson leading private capital.

“A lot of opportunities come to me because of my experience and exposure to the Caribbean marketplace. I still get a lot of calls, and I kick them to the pillar leaders,” Williams expounded.

Despite a rough first quarter in which Proven Group reported a loss, Williams is asking shareholders for patience from investors to allow the pillar leaders to deliver on their specific strategies. He noted that the team takes their jobs very seriously and directors are focused on making sure they hit their targets.

Proven Group started with US$20 million in Jamaica during February 2010 and has evolved into business with a US$1.08-billion asset base across seven territories across the Caribbean. The business still dreams new strategies to keep growing shareholder value, with equity attributable to owners at US$102.50 million.

“It’s not a boardroom role, but it’s a role we all treasure. I think it’s a part of our competitive advantage. That’s why we are called Proven because we are, in fact, proven, as the team of individuals that have formed Proven are well known and respected across the Caribbean. Our job is to open doors and guide all our pillar leaders through those doors and let them lock it and own it,” Williams closed.