Under the terms of the Technical Cooperation Agreement with the Inter-American Development Bank’s Multilateral Investment Fund (now IDB Lab), the Development Bank of Jamaica, through its Jamaica Venture Capital Programme (JVCAPITAL) committed to the establishment of a Private Equity (PE) and Venture Capital (VC) Association.
With leadership from an Advisory Council made up of industry leaders, the Caribbean Alternative Investment Association (CARAIA) was incorporated in July 2019 as a non-profit organization dedicated to promoting the expansion of Private Equity, Venture Capital, Real Estate, Private Credit, Mezzanine Financing and other Alternative Investments in the Caribbean.
The impetus to establish the Association arose from the need identified by fund managers, corporate and institutional investors to continue to grow and develop the markets, with some support from Government sources and International Development Finance Institutions.
The Association is currently based in Jamaica but is seeking to, from the outset represent Caribbean stakeholders. Those eligible for membership include regional entities as well as international stakeholders with an interest in the Caribbean.
It is recognized that the Caribbean has some 44 million inhabitants in 31 countries. Many of the countries with embryonic private equity, private credit, venture capital, and other alternative investment markets, in the Caribbean, are either not supported by any regional or international body or, when represented, do not receive the sustained focus required to nurture and develop their private capital markets.
A regional association, representing the collective interests, promoting best practices, and increasing the visibility of the Caribbean on global investment ‘maps’, would serve to mobilize greater levels of long-term funding, support entrepreneurship, and infrastructure development, and accelerate economic growth.
Vision & Mission
The Vision of CARAIA is to create and develop a globally recognized alternative investment ecosystem in the Caribbean
This vision will become a reality by carrying out our mission of increasing potential for local and cross-country business growth, accelerating the learning process on industry best practices and expanding the voice & visibility of the region in promoting Alternative Investments.
Opportunities
Opportunities created by the establishment of the Association include:
- The ability to substantially increase the voice of the region in promoting Alternative Investment
- Creating economies of scale for business enabler networks and other such groupings
- Increasing potential for cross-country business growth
- Increasing opportunities for International LPs who prefer regional funds over local funds for diversification strategies
- Allowing Fund Managers to expand their business operations locally but fundraising also from other countries
- Allowing the strengths of one country to compensate for the weaknesses of another
- Accelerating the learning process on industry best practices through training programs tailored to each country’s individual experiences
Strategic Focus
We accomplish our mission in five ways:
- Guiding effective and efficient establishment of the alternative investments platform through education and professional development in best practices, legal structures, and professional qualifications for members
- Research and Information dissemination activities
- Advocacy at the local, regional and international levels
- Fostering regional and institutional development
- Providing networking and promotional opportunities to enhance deal flow
Programmes
The Association has embarked on the following Programmes:
1. Education and Professional Development
2. Research and Information Dissemination
3. Advocacy
4. Policy, Legs, and Regs
5. Networking and Promotional Activities
6. ESG Promotion
For information on membership in CARAIA please go to the Medium Term Strategy.