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HEVA’s Growth Fund to Provide Growth Capital to Medium Sized Creative Businesses in Kenya

HEVA’s Growth Fund to Provide Growth Capital to Medium Sized Creative Businesses in Kenya

 

Deadline: 13 March 2019

HEVA in collaboration with Agence Française de Développement (AFD) is seeking applications for its growth fund to provide growth capital to medium sized creative businesses in Kenya (2019) and East Africa over the next few years.

 

This facility is designed to provide follow-on growth financing to mature ventures, reduce supply side structural impediments, address information asymmetries and increase linkages and bridges (pipeline and co-investment) between commercial finance and creative sector enterprises in Kenya and the region.

Business support remains a key component of the fund strategy, with beneficiaries receiving ongoing business modeling and client support as part of their facilities. Legal accounting and cash flow management support, as well as access to training and international platforms for market access, will also be provided.

Grant Information

The fund is a loan facility, and HEVA is looking to invest between KES 5,000,000 and KES 10,000,000 with a repayment period of 48 months maximum, in each successful business.

Eligibility and Requirements

Key requirements for each application are:

  • Applicants business must be registered and operational in Kenya, and the sole owner or a 51% majority of shareholders must be Kenyan citizens resident in Kenya.
  • Applicants business must have been in existence for at least 5 years
  • Applicants enterprise must be in any of the following creative economy value chains:
    • Fashion, apparel and accessories
    • Live music events
    • Digital media content production & distribution
  • Applicants business must have a minimum of five permanent employees
  • Applicants business must have valid financial statements for the last 5 years.
  • Applicants business must have annual revenues exceeding KES 10,000,000.
  • Applicants business must have assets that can be used as collateral.

How to Apply

Interested applicants can apply online via given website.

For more information, please visit http://www.hevafund.com/growth-fund/#eligibility

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