CDVCA Dives Into PRFG 2021 Impact Outcomes with Fund Managers 

After more than two years meeting virtually, CDVCA New York and Puerto Rico-based leadership returned to San Juan to meet in person with managers of the business investment funds CDVCA has invested in through the Puerto Rico Fund for Growth (PRFG), a $45 million fund of funds managed by CDVCA. Participants discussed how to grow the burgeoning business finance ecosystem in Puerto Rico and the impact PRFG and the funds and businesses it supports has had on the Puerto Rican economy. 

Fund managers from Acrecent Financial Corporation, Bluhaus Capital, Moonsail Capital, Morro Ventures, Parliament Capital, and Semillero Ventures, participated in the meeting and reception on May 10, 2022, at the Verdanza Hotel in San Juan. 

CDVCA’s PRFG has invested more than $40 million in 8 funds that have collectively invested a total of $127M in 146 companies. The fund also made co-investments in four Puerto Rico-based businesses.  Key data highlights from these investments were presented to attendees by Alexandria Harris, CDVCA Vice President and discussed with the group. Some highlights include: 

  • 100% of PRFG capital went to Puerto Rican fund managers based in Puerto Rico 
  • 86% of their investments went to Puerto Rican companies 
  • For 16% of the companies, this was their first institutional capital investment 
  • Companies showed 13% job growth since PRFG’s initial investment with 3,318 jobs created 29,510 jobs supported. 
  • Key industries include Industrials (27%), Healthcare (22%), Food & Beverage (11%), Financials (10%), Professional Services (9%) and Energy (8%).  

With an average initial investment of $700K and $2B in subsequently capital raised, the portfolio businesses have already had significant impact on the Puerto Rican economy. For more information about Puerto Rico Fund for Growth, contact