VPB acts to plug investment depreciation

Some of these steps include facilitating access to finance and balance sheet restructuring, for the affected companies.VPB manages CEDA's Venture Capital Fund (CVCF) which has, over the years, invested close to P200 million across various business types and sectors.

According to CEDA's Annual Report 2009, the Fund was forced to write down P30 million investments, pulling out of Mabele Breweries and Benson Craig. The former has since been liquidated. This week, VPB Managing Director, Anthony Siwawa, told Mmegi that the fund manager's focus for the year would be on start up/green field ventures within the CVCF's investment portfolio. With most of the CVCF's portfolio made up of start up companies, the recession amplified the usual problems associated with these types of ventures. Most of the 13 associate companies and subsidiaries in the CVCF's portfolio are about three years old and many were just getting off the ground when the global recession hit late 2008.