SSL Venture Capital to raise capital locally for pipeline investments
Cayman fast food Papa John Pizza outlet targeted to set up operations in JamaicaWednesday, July 08, 2020
BY DURRANT PATE
SSL Venture Capital Jamaica is heading to the local capital market in the coming months to finance many multimillion-dollar pipeline investments locally and regionally in the works.
SSL Venture Capital, which says it is “ now in capital raising and acquisition mode”, has already crafted a proprietary pipeline, off-market deals, and curated investment opportunities in several sectors. SSL Venture Capital Jamaica is a publicly traded venture capital company listed on the Jamaica Stock Exchange.
In an interview yesterday, SSL Chief Executive Officer Zachary Harding disclosed that the fund-raising efforts would take the form of private placements on the local capital market. SSL Venture Capital will execute these private placements on behalf of a number of prospective companies, which have been targeted.
One of these companies is the Cayman-based fast food outlet of Papa John Pizza, which is looking to expand regionally, eyeing Jamaica as a possible market. Negotiations are still ongoing with Papa John Pizza, but the prospects look good for obtaining funding through a private placement for the fast food company to establish a few outlets in Jamaica.
According to Harding, “it is our intention to raise a new fund toward the third quarter of 2020 so that we will have sufficient long-term, patient capital to take advantage of these opportunities in a timely and responsive manner. We aim to fully understand and get to know the individuals driving each business, so we can be confident that our interests are aligned both financially and morally and share the same values and socially responsible goals.”
Continuing Harding said, “we are hungry to do what is right for our investors with the confidence that profits will follow when you have good people, with the right resources working on good ideas.”
He pointed out that SSL Venture Capital is being strategic in the sectors its deploying capital, emphasising that these sectors must exhibit strong confidence, “and which we believe possess the greatest opportunities for growth and sustainability, while minimising risk”.
Now you can read the Jamaica Observer ePaper anytime, anywhere. The Jamaica Observer ePaper is available to you at home or at work, and is the same edition as the printed copy available at https://bit.ly/epaper-login