@misc{37462,
title = {Venture Capital in the Caribbean: A Study of the Ecosystem in Five Countries},
author = {Leslie, Winsome J. and Beecher, Wayne and Swaby, Kemesha},
editor = {Johnson, Simon Christopher and Doboin, Ruben and Gyoung, Joo Choe},
year = {2025},
doi = {10.18235/0013829},
abstract = {This study analyzes the venture capital (VC) ecosystem in the Caribbean, focusing on five countries: Barbados, The Bahamas, Jamaica, Suriname, and Trinidad & Tobago. It provides an overview of the Caribbean VC ecosystem, showing that although VC has become a driver for innovation and private sector development across Latin America, the Caribbean VC market remains less mature, with limited investments and significant funding gaps for startups. 

To assess ecosystem development, the authors developed the Caribbean Ecosystem Maturity Model (EMM), which scores the region and each country on a five-level scale across 12 critical dimensions: deal flow, entrepreneurial culture, funding sources, VC and private equity activity, exit mechanisms, talent pools, professional services, international connection, investment networks, support organizations, regulatory frameworks, and research & development and innovation. Overall, the region is categorized as “nascent” or “emerging,” depending on the dimension.

The study calls for a multi-faceted approach to further develop VC in the Caribbean, addressing many areas such as education and capacity-building, cultural barriers, regulatory progress, and financial de-risking.},
url = {https://doi.org/10.18235/0013829}
}