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Gazelle Finance Fund Starts to Invest in Georgia

Gazelle Finance Fund Starts to Invest in Georgia

JSC Partnership Fund will partner with the Canadian investment fund – the Gazelle Finance Fund.

Gazelle Fund focuses on supporting small and medium-sized enterprises (SMEs) in Georgia, which have potential of fast development. According to the agreement, alternative source of financial resources will appear in Georgia, which should be guarantee of new business launch and creation of new jobs, revenue and economic growth. However, Partnership Fund will make its contribution in it.

As of the penned document, JSC PF enters the fund’s capital with an investment of 6 million USD, as a partner of Gazelle Fund. The initial capital of the Gazelle Finance Fund will be $27.5 million USD however its investment amount will increase by $70 million, at that minimum 60% will be spent in Georgia. To note, partners of the Gazelle Fund include Dutch state-investment fund, the Dutch Good Growth Fund (DGGF) and the Netherlands Development Finance Company (FMO).

Along the partners, the Fund is financed by the US Government’s development finance institution – “Overseas Private Investment Corporation” OPIC, which has allocated a credit line of 21 million USD. This is the first case, when Partnership Fund makes investment in the international consortium, which will be basically focused on supporting small and medium-sized enterprises (SMEs) in Georgia