Overview

In 2018, PearlMutual Consulting limited set up an open-ended retail fund that sources funding from high-net-worth individuals to fulfill the short-term working capital needs of SMEs in Nigeria. This vehicle, otherwise known as BridgeAngels Fund I, has since provided 12 SMEs in the Agric processing and manufacturing industry with over $3.2 million. Despite Fund I’s achievements in social, financial, and economic achievements, there are limitations to short-term, private funding such as:

  • Most organizations operating in the manufacturing industry require longer-termed funding than we can provide under fund I’s investment structure.

  • Investors constantly pull their money out of the fund which affects Fund I’s liquidity and limits the amount of money we can give to a single SME to $150,000.

  • Due to time and cash constraints, Fund I must exclude organizations in other strategic industries that have larger, longer-termed financing needs than Agric processing.

  • Our ability to create jobs, specifically for youth and women, is also limited as longer-termed funding results in steadier job creation.

These limitations have prompted the creation of a sister organization where we will use our knowledge, expertise, and established contacts to raise capital for businesses through impact-driven private debt funds. PearlBridge Capital Managers Ltd is a Sub-Saharan-focused fund management company located in Lagos, Nigeria.