"Peru Agri Ventures"
CARE Enterprise Partners Project Fact Sheet Updated: March, 2006 Project/ Enterprise: Peru Agri Venture Fund Country: Peru Sector: Agribusiness Type of Assistance: Enterprise Assistance and (anticipated) Venture Fund Total CEP's Investment and 25,000 USD Assistance Assistance Value: Grant Anticipated 250,000 USD Equity, loans and guaranty Inception Date: January 2005 Est. End Date/ Divestment: 2009 In Brief In collaboration with CARE Peru and Edyficar, a leading Peruvian Microfinance institution, CEP is initiating the Peru Agri Venture Fund, witch will provide, on the one hand, patient loans and equity to new agribusiness enterprises in Huaraz, Peru and, on the other hand, a guarantee fund to the benefit of Edyficar for on lending to small local farmers. It is anticipated that the fund will provide its first series of investments (up to $250,000) in June, 2006, to three agribusiness working in the artichoke, spinach and oat markets. Details on CEP’s CEP initiated the idea of the Agri Venture Fund after a visit to Huaraz in August 2005. Participation/ Assistance: CEP subsequently provided technical support and business planning assistance in the form of a one-time Enterprise Assistance grant. Partner Organizations: CARE Peru Edifycar (Microfinance institution) Social and Environmental Anticipated income security and increases for 1500 participating farmer families in Huaraz Impacts and Benefits: region. Organic production of spinach. Oats sold to municipal government for local school feeding programs. Recent Developments: Visit by CEP team in January 2006, short-list of 3 enterprises for first round of funding. Hiring of business planning support consultant to solidify business plans. Upcoming Events/ CEP return visit to Huaraz in late April 2006. Milestones: