OVERVIEWAVFC is a limited liability company with the sole authorized business of assisting in the development of SMEs by making available for their use, equity and quasi-equity financing and providing them business and management expertise.
AVFC is owned by the Agricultural Development Bank, the Ghana Commercial Bank and the Venture Capital Trust Fund and managed by Black Star Advisors.
The Government set-up the Venture Capital Trust Fund under a Parliamentary Act, (Act 680) passed in November 2004. The object of the Act is to establish a venture capital trust fund aimed at providing low cost investment capital to small and medium scale enterprises and also help in the development and promotion of venture capital financing in the country.
In order to achieve the above objective, the Venture Capital Trust Fund Act recommended the setting up of Venture Capital Financing Companies to apply for funding from the Trust Fund and in turn provide credit and/or equity financing to SMEs.
Accessing Funds from AVFC
Business entities or individuals who need financing to establish or run businesses can access funds from AVFC. However, to enable us evaluate proposals of potential investee companies, applicants are to ensure that they submit the following:
- An application letter
- 3 Hard copies of the business proposal
- 1 soft copy of the business proposal
- Tax clearance certificate