The Venture Capital Trust Fund has, in the last two decades, invested more than GH¢359.6 million in local business ventures to enhance growth.

The trust fund also leveraged more than GH¢2 billion funding from other investors, institutional and individuals, known as Angel Investors, over the same period.

The Chief Executive Officer (CEO) of the VCTF, Michael Abbey, who made this known, said the investments created 28,486 direct and indirect jobs in the economy.

Speaking at a media engagement in Accra last Tuesday to present highlights from the 20th anniversary impact report of the VCTF, Mr Abbey said the fund also contributed to 14 out of the 17 of the Sustainable Development Goals (SDGs).

This included support for gender and climate-focused funds such as Zinari Women's Enterprise Fund and Wangara Green Ventures.

He said the fund also supported the growth of Oasis Capital, a venture capital investor, from an $11 million fund size to $100 million across three funds.

The impact report also provided a glimpse into the collective achievements of the fund and highlighted steps taken to build a robust venture capital ecosystem.

The media engagement was part of the VCTF's effort to enhance public understanding of its impact and future direction.

Report

Launched in April this year, the report highlights VCTF's contributions from 2004 to 2024, including investments in 14 venture funds and 77 portfolio companies across key sectors such as agriculture, manufacturing, health care and education.

The gathering

Mr Abbey said the fund existed to “drive innovation, unlock potential and create transformative change in the entrepreneurial landscape of the country”.

He said the impact report was evidence of a journey defined by purpose, resilience and progress.

“Our mission, as embedded in the foundation of the VCTF, is to build a venture ecosystem that strengthens small and medium enterprises.

“At VCTF, we believe in investing with purpose. Venture Capital is not just financial but catalytic,” he added, and said it empowered businesses to innovate, equipped them to thrive in competitive markets, and also drove solutions to critical development challenges,” Mr Abbey added.

Partnerships

The General Manager of the VCTF, Percival Ofori Ampomah, who shared an overview of the report, also emphasised VCTF's role in building the venture capital ecosystem in the country, unlocking local capital, and anchoring impactful funds such as Oasis Capital and Injaro Ghana Venture Fund.

He said managers of the fund had resolved to engage the government to assist them with substantial capital to boost operations.

“We will continue to engage the government and the Ministry of Finance to ensure the challenge of fundraising is dealt with,” Mr Ampomah said.