The Venture Capital Trust Fund (VCTF) will this week unveil yet another initiative aimed at addressing the stiff access to capital for early-stage entrepreneurs.
The Trust Fund is preparing to launch an Angel Investor Network in Ghana. The Network to be dubbed the Ghana Angel Investor Network (GAIN) will provide a platform for high networth individuals and accomplished entrepreneurs to invest in early stage businesses.
The combination of improved business climate and strong economic growth has anchored an age of entrepreneurship, where individuals are now willing to deploy skills and knowledge to unearth latent opportunities within the various sectors of the economy. However, the most significant impediment to transforming ideas into problem-solving businesses that create jobs and wealth is the dearth of capital to support early stage entrepreneurs in Ghana. GAIN is designed to blow away this hurdle and augment current efforts to spur entrepreneurship in Ghana. It is envisaged that the launch of GAIN will stimulate significant growth in angel investing, which will ultimately provide a solid boost for the SME sector.
GAIN membership will be open to high networth and accomplished entrepreneurs and corporate executives who share a common passion for nurturing early stage ventures to become profitable companies that create jobs and worth. The Network’s Members, also referred to as Business Angels will invest not only money, but also make available their expertise, contacts, and time as additional support to ensure that the new business is well resourced and positioned for profitable growth. Membership of GAIN will also be open to corporate institutions who demonstrate a desire to support entrepreneurs.
GAIN is registered as a not-for profit entity, however, its members stand to benefit from the significant profit and return potential underlying each investment. By way of encouraging Angel investing in the country, GAIN members will enjoy tax breaks on any capital gains generated from their investments, while at the same time having the ability to deduct any invested amount from their tax liability for each year.
Besides these benefits, the network will provide a platform for members to interact, share ideas, and learn about previously unfamiliar sectors from fellow members. All these will be spiced by a powerful recognition of GAIN membership and brand as a representation of accomplished excellence, distinguished service, unique leadership and an attitude of giving back to society.
The Network will be supported by a Secretariat, which will coordinate its activities including screening funding applications; managing member recruitment, communication; public relations; and investment administration and performance reporting.
The vision of Venture Capital Trust Fund is to promote GAIN as a private initiative to support the private sector. Several high-profile private sector players and accomplished entrepreneurs are expected to endorse the initiative by partnering the Venture Capital Trust Fund as founding members of GAIN.
To the extent that business formation, growth and expansion ultimately translate into a strong private sector for economic growth, the launch of GAIN or for that matter, formalization of Angel investing is timely for the Ghanaian entrepreneurs, and thus needs to be encouraged.
The Venture Capital Trust Fund calls on all potential Business Angels, Corporate Institutions, and other stakeholders to welcome GAIN as a viable long-term strategy aimed at releasing smart and patient capital for early-stage ventures while providing a strong boost for entrepreneurship in Ghana.
The Trust Fund is preparing to launch an Angel Investor Network in Ghana. The Network to be dubbed the Ghana Angel Investor Network (GAIN) will provide a platform for high networth individuals and accomplished entrepreneurs to invest in early stage businesses.
The combination of improved business climate and strong economic growth has anchored an age of entrepreneurship, where individuals are now willing to deploy skills and knowledge to unearth latent opportunities within the various sectors of the economy. However, the most significant impediment to transforming ideas into problem-solving businesses that create jobs and wealth is the dearth of capital to support early stage entrepreneurs in Ghana. GAIN is designed to blow away this hurdle and augment current efforts to spur entrepreneurship in Ghana. It is envisaged that the launch of GAIN will stimulate significant growth in angel investing, which will ultimately provide a solid boost for the SME sector.
GAIN membership will be open to high networth and accomplished entrepreneurs and corporate executives who share a common passion for nurturing early stage ventures to become profitable companies that create jobs and worth. The Network’s Members, also referred to as Business Angels will invest not only money, but also make available their expertise, contacts, and time as additional support to ensure that the new business is well resourced and positioned for profitable growth. Membership of GAIN will also be open to corporate institutions who demonstrate a desire to support entrepreneurs.
GAIN is registered as a not-for profit entity, however, its members stand to benefit from the significant profit and return potential underlying each investment. By way of encouraging Angel investing in the country, GAIN members will enjoy tax breaks on any capital gains generated from their investments, while at the same time having the ability to deduct any invested amount from their tax liability for each year.
Besides these benefits, the network will provide a platform for members to interact, share ideas, and learn about previously unfamiliar sectors from fellow members. All these will be spiced by a powerful recognition of GAIN membership and brand as a representation of accomplished excellence, distinguished service, unique leadership and an attitude of giving back to society.
The Network will be supported by a Secretariat, which will coordinate its activities including screening funding applications; managing member recruitment, communication; public relations; and investment administration and performance reporting.
The vision of Venture Capital Trust Fund is to promote GAIN as a private initiative to support the private sector. Several high-profile private sector players and accomplished entrepreneurs are expected to endorse the initiative by partnering the Venture Capital Trust Fund as founding members of GAIN.
To the extent that business formation, growth and expansion ultimately translate into a strong private sector for economic growth, the launch of GAIN or for that matter, formalization of Angel investing is timely for the Ghanaian entrepreneurs, and thus needs to be encouraged.
The Venture Capital Trust Fund calls on all potential Business Angels, Corporate Institutions, and other stakeholders to welcome GAIN as a viable long-term strategy aimed at releasing smart and patient capital for early-stage ventures while providing a strong boost for entrepreneurship in Ghana.
Comments
Any info on the secretariat's location and contact?
Good piece.