Central American Small Enterprise Investment Fund II

The Central American Small Enterprise Investment Fund II (CASEIF II) is a private equity fund launched in 2007 to serve the finance needs of small and medium enterprises (SMEs) in Central America, Panama and the Dominican Republic. Its investors are BIO, Corporacion Andina de Fomento, Finnfund, Lafise Investment Management, MIF/IDB, and Norfund. SIFEM invested USD 5.0 million in the fund on behalf of SECO.

CASEIF II provides growth capital for export-oriented SMEs in Central America, Panama, the Dominican Republic and Belize. Investments are made in sectors that benefit most from free trade agreement with the US (DR-CAFTA) as well as from improving economic conditions in Central America and the Caribbean. Investments include agro-industrial products with differentiation, ethnic products, packaged or canned foods, snacks, retail, textiles and clothing, tourism, technology, software development, and medical instruments. Investments are predominantly structured as convertible debt and range USD 250,000 - 3.0 million. The fund is accompanied by a TA Facility funded equally by BIO, Norfund, and SECO in an aggregate amount of approximately USD 100,000 per year during its 5–year investment period.

CASEIF II is managed by LAFISE Investment Management Ltd, a joint venture between Norfund and LAFISE, founded in 2000 and headquartered in Managua, Nicaragua. LAFISE is a diversified financial services group that is active in throughout Latin America. It was created in 1985 by Mr. Roberto Zamora in order to provide financial services to the Central American and Caribbean region.