To further buttress its commitment to the development of Micro Small and Medium Scale Enterprises in Nigeria, with a special focus on the real (agriculture, manufacturing) and retail sectors, RegCharles Finance and Capital Ltd recently established the M.A.R. Fund. This fund, as the name implies, focuses on the Manufacturing, Agriculture and Retail businesses in Nigeria. The targeted size for this fund is $10 million (N1.7 billion) and has a life of 10 years.
The idea of establishing this fund was birthed out of the need to provide financing to potential clients (investees) who require capital to finance their working capital or asset financing needs. The fund was established to address the “missing middle” in the financial services industry which most financial institutions shy away from funding due to the unstructured nature of their businesses. Investors in this fund will benefit a gross return of 16% p.a. as well as the creation of social and environmental impact in the society. After fund raising has been concluded, the fund will be invested in businesses that fall within the highlighted sectors with deal sizes between $15,000 (N2.5 million) and $250,000 (N40 million).