First U.S.-Based Venture Capital Fund Focused on Rwanda Makes its Inaugural Investment.DENVER -- Thousand Hills Venture Fund (THVF), the only for-profit venture capital fund investing in small and medium-sided enterprises in Rwanda, announced today its inaugural investment in Rocket 2020, a provider of products, services and technology connectivity to small businesses throughout Rwanda. Headquartered in Denver, Colo., THVF provides a rare and exclusive way for U.S. investors to participate in the growth of promising businesses and entrepreneurs in developing countries. "Many people in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. see African countries like Rwanda only through the lens of non-profits and naturally assume that for-profit investment opportunities do not exist," said Rob Fogler, co-founder and managing director of THVF. "The reality is - Africa is rich with entrepreneurs that need access to capital so that they can build their own economies. Private equity investment like THVF encourages innovation and growth in developing countries without dependency dependency In international relations, a weak state dominated by or under the jurisdiction of a more powerful state but not formally annexed by it. Examples include American Samoa (U.S.) and Greenland (Denmark). on charity and aid." Rwanda is ripe for investment, and according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. the IFC/World Bank 2006 annual report, Rwanda is the top business reformer in Africa. As a world leader in 'soft' infrastructure Rwanda offers investors: --Stable economic growth, modest inflation, transparent institutions, a corruption-free environment, friendly investment laws, commitment to higher education higher education Study beyond the level of secondary education. Institutions of higher education include not only colleges and universities but also professional schools in such fields as law, theology, medicine, business, music, and art. and private sector development --Rapid development in 'hard' infrastructure, with its aggressive promotion of private sector information and communications (ICT (1) (Information and Communications Technology) An umbrella term for the information technology field. See IT. (2) (International Computers and Tabulators) See ICL. 1. (testing) ICT - In Circuit Test. ) development, including an advanced fiber-optic network, country-wide wireless internet and numerous technology education institutes --Fast-growing export sectors, including high-quality coffee, tea, etc. --A vibrant banking sector that has received significant foreign investment, upgraded its technology infrastructure and introduced innovative new lending products --A safe and secure environment, which hosts five-star accommodations and resorts Rocket 2020 is the first of many investments THVF will be making in Rwanda. Much like FedEx Kinko's FedEx Kinko's is a chain of stores that provide printing, copying, and binding services. Many FedEx Kinko stores also provide video conferencing facilities. The primary clientele consists of small business and home office clients. in the United States, Rocket 2020 provides rural business owners access to the products and services they need to successfully operate growing businesses. With plans to open its first five stores this summer and expand its locations to 15-20 stores within the first 24 months, Rocket 2020 will be servicing the needs of Rwandan businesses from the country's capital, Kigali, to wide-spread rural marketplaces. Rocket 2020 will hold several roles in the Rwandan business workplace, including: --A reliable hub for computer services Data processing (timesharing, batch processing), software development and consulting services. See service bureau, SaaS and ASP. and communications, including phone, fax, computers and internet access See how to access the Internet. --A wholesaler and retailer to small merchants --A distribution channel for large businesses, the Rwandan government and other non-governmental organizations “NGO” redirects here. For other uses, see NGO (disambiguation). A non-governmental organization (NGO) is a legally constituted organization created by private persons or organizations with no participation or representation of any government. In correlation with THVF's core strategy, Rocket 2020 has assembled as·sem·ble v. as·sem·bled, as·sem·bling, as·sem·bles v.tr. 1. To bring or call together into a group or whole: assembled the jury. 2. a first-rate board of directors, and it will follow THVF's strict requirements for financial reporting, accounting transparency (1) The quality of being able to see through a material. The terms transparency and translucency are often used synonymously; however, transparent would technically mean "seeing through clear glass," while translucent would mean "seeing through frosted glass." See alpha blending. and corporate governance Corporate Governance The relationship between all the stakeholders in a company. This includes the shareholders, directors, and management of a company, as defined by the corporate charter, bylaws, formal policy, and rule of law. . About Thousand Hills Venture Fund Founded in 2004 as the only for-profit, U.S.-based venture capital fund focused on small and medium-sized enterprises anywhere in Africa, THVF provides U.S.-based investors a unique way to invest in promising businesses and entrepreneurs in developing countries. THVF focuses on the "financing gap" that exists in many developing countries -- which includes investments above micro-finance levels but below the minimum amount typically required by existing private equity funds. THVF targets its investments in Rwanda due to its friendly investment environment, rapid infrastructure development and potential for revolutionary productivity gains, making it one of the most promising African nations for venture capital investment. For more information please visit www.THVF.com. About Rocket 2020 Funded by Thousand Hills Venture Fund (THVF), Rocket 2020 is a provider of products and services to small businesses throughout Rwanda. Rocket 2020 functions as a wholesaler and a retailer to small merchants; a reliable hub for communications and computer services, including phone, fax, computers and internet access; and as a trusted distribution channel for large businesses, the Rwandan government and other non-government organizations. A technology-driven company, Rocket 2020 is comprised of a network operating center, a central warehouse in Kigali, Rwanda, and retail store locations in marketplaces outside of Kigali along Rwanda's main roads and trade routes. |
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