Black Star Advisors

Venture Capital and Private Equity

Activity Venture Finance Company (AVFC) provides venture capital finance to fast growing Small and Medium Enterprises (SMEs) throughout Ghana. (BSA is currently Fund Manager for AVFC).

AVFC was set up through a Public-Private Partnership under an Act of Parliament. Through AVFC, we support the Government’s Private Sector development initiatives a critical element of the nations growth strategy.
Through venture capital investment, BSA is developing and testing strategies for SME growth and development in a very challenging environment. These challenges include:

  • Small Average Deal Sizes
  • Poor corporate governance and fiduciary responsibility practices
  • Absence of proper identification systems to aid credit referencing
  • Record keeping, professional reporting and data integrity
  • Poor working capital management
  • Lack of long term succession planning

However, we have closed 16 investments so far in the SME sector, across various industries including ICT, Manufacturing, Pharmaceuticals and Agri-business.