News Americas, NEW YORK, NY, Weds. September 7, 2022: A US-based asset management firm owned by Caribbean and African-Americans has now opened an arm in Jamaica.
Black Pearl Global Investments, (BPGI), founded by Jamaican Dr. Carl Smart; Dr. North Carolina-born Shante Williams and Venezuelan Marlon Joris invest in companies innovating in the health determinants space, primarily focused on those located in North America, Africa and the Caribbean.
The firm also places financing globally in the form of venture capital, private equity and private lending. Its mission is to equitably accelerate the distribution of funding to the companies, entrepreneurs and innovators who need it most and where it can have the greatest impact. “Jamaica was a natural fit for our Caribbean headquarters,” said Dr. Smart. “Setting up our first Caribbean office here was deeply personal and will act as an anchor for all our activities across the region.”
Dr. Williams, President and CEO of BPGI Global, explained: “We are here to support the healthcare sector with a mix of both debt partnership and equity solutions. BPGI’s expertise is in supporting entrepreneurs to grow their businesses – not just by deploying capital, but with access to the network and knowledge needed to advance an organization.”
Global Black Pearl Limited (GBPL) is the Jamaican registered entity of BPGI General Partners, which leads capital deployment within the Caribbean.
So far they’ve exited a healthcare position, closed a 5th venture with Goldman Sachs as lead broker, and recently entered into a deal to acquire Florida-based contact lens maker Hydrogel Vision Corp. (HVC). As a result of the acquisition, HVC will be known as Black Pearl Vision, becoming the only black-owned and women-led contact lens manufacturer in the world. The deal is expected to close by mid-September.
“Our ticket sizes are in the $10,000 – $750,000 range and we are excited to support the Caribbean market,” Williams asserted.
BPGI will invest in and acquire early-stage and growth companies that are transforming healthcare using innovation. “The investment strategy focuses primarily on Caribbean companies with a global potential. We are looking to accelerate the Caribbean as an innovator in the healthcare sector, so we want to partner with visionary founders who are redefining how healthcare is delivered and consumed, while driving better outcomes for all,” said Daniel Smart , Caribbean Director.
Black Pearl’s Global Investments team brings investment, medical, technology and healthcare expertise to the table: “In 2020, US digital health start-ups attracted a record $14 billion in capital, the biggest year ever financing on record. Jamaica is rich with brilliant innovators and yet funding is just starting to see traction,” Williams said. “BPGI’s mission is to change that by helping to magnify Jamaica’s best and brightest. We have developed a pipeline strong opportunities and we hope to be considered the preferred capital partner for healthcare entrepreneurs.”
