Morro Ventures

Morro Ventures

Fund II

MORRO VENTURES
CARIBBEAN

Flexible Financial Investments
in Early-Stage Caribbean Companies.

Morro Ventures: Core Value Proposition

Our Fund stands apart in the Caribbean by blending deep fund management expertise with unmatched local knowledge — led by GPs with decades of private equity, fund management, and entrepreneurial experience in the region.

Factors of Differentiation

Unique Investment Thesis

  • Overlooked Geographies: Unlocking value in the Caribbean, where few others invest.
  • Second-Time Founders: Backing proven operators with unfinished business.
  • Regional Problem-Solving: Tackling Caribbean-specific challenges (infrastructure gaps, financial inclusion, energy resilience).
  • ‘Boring’ Industries, Big Margins: Finding outsized returns in overlooked sectors.

Founder-First Ethos

  • High-Touch Support: 1:1 mentoring, recruiting, and governance guidance.
  • True Partnership: Building with founders, not just funding them.

Platform Support / Services

  • Growth Experts In-House: Branding, sales, and growth strategy.
  • Exclusive Deal Networks: Access to corporates, governments, and global partners.
  • Talent Pipeline: Helping founders quickly hire top-tier people.
  • Fundraising Firepower: Connecting founders with LPs and VCs for future rounds.

10+ Years of Trusted Relationships

  • Insider Access: Exclusive investment pipelines unavailable to others.

Diverse & Inclusive Capital

  • Female-Led, Founder-Focused: Backing underrepresented founders with real operational support.
  • Rewiring the Capital Stack: Engaging Caribbean nationals and diaspora wealth to share in growth.
  • Ecosystem Builders: Partnering with accelerators, universities, and governments to grow inclusive innovation.

Hyper-Focused Portfolio

  • Selective by Design: Only 5–10 high-conviction investments per year.
  • Deep Commitment: More capital per deal, more attention per founder.
  • Proven Winners: Known for disciplined, strategic backing.

Exit Track Record

  • Experienced Exits: Across four prior funds, realized exits with strong returns.
  • Repeatable Playbook: Decades of know-how in driving companies to successful outcomes.

Significant Financing Gaps in the Caribbean Ecosystem

Rooted in Limitations & Rigidity of the Traditional Financial Sector

Bank Financing

Structural Challenges – High collateral requirements and high borrowing costs.

Regulatory Complexity – Limits cross-border financing and deepening of financing pools.

Non-Bank Financing

Minimal Financial Innovation – Traditional loans and credit facilities dominate.

Market Nascency – Non-bank financing remains in early development stages.

Equity Financing

Traditional Asset Management – Focus on later-stage, cash flowing businesses.

Regulated Equity Financing – Requires significant documentation, reporting, and previous private financing rounds.

MV Opportunity

Finance post-revenue, early-stage companies through flexible financing schemes, including convertible notes, preferred equity, revenue-based financing, and venture debt.

MV provides tailored financial support to drive company development to next growth stage, after which company can appeal to banks or non-bank financing vehicles or list on the junior stock exchanges.

Financial flexibility aligns with the economic reality of the Caribbean early-stage ecosystem that struggles to find initial capital investment across tech and industry verticals.

Tailored Financial Flexibility

Financing Solutions That Provide Medium-to-Long-Term Capital to Drive Company Growth

Convertible Notes

Quick-to-deploy financing for early-stage companies with robust growth trajectory and anticipated equity round.

Preferred Equity

Patient capital for early growth-stage companies.

Revenue-based Financing

Equity-free financing for companies in ecommerce, delivery, or SaaS. For early to growth stage companies.

Venture Debt

Lower cost capital for companies with steady cash flow or collateralized assets, like receivables. For growth stage companies.

Capital Deployment to Optimize Company Growth and Investor Returns

High Potential Returns from Equity Complemented by Stable Near-Term Returns from Debt

Convertible Notes

  • First institutional investment.
  • Conversion at equity financing or maturity.

Preferred Equity

  • Initial entry at early growth stage or follow-on financing from existing investments.
  • Target material ownership position; board position and corporate governance enforcement.
  • Active operational assistance.

Revenue-Based Financing

  • Flexible cashflow financing for companies with recurring revenue.
  • Flexible structuring to match companies' cashflow.

Venture Debt

  • Non-bank financing alternative for stable companies.
  • Robust data collection and monitoring of borrower.

Sourcing, Filtering, and Institutional Due Diligence

Leveraging Institutional Framework of Private Equity Heritage to Ensure Comprehensive Analysis

Initial Screening

  • Inbound deal flow and active outreach.
  • Founders’ experience and background.
  • Marketing deck and basic financial review.
  • Demo day presentations.
  • General market considerations.

Early Engagement

  • Introductory calls with management team.
  • Product demo.
  • Review of data room: historical financials, forecasts, cap table, product roadmap.
  • Market analysis.
  • Proprietary DD Questionnaire.

Due Diligence

  • Comprehensive corporate, legal, financial, and founders DD.
  • Financial modeling and sensitivity analysis.
  • Cash flow projections and underwriting.
  • Stakeholders’ and industry experts calls.
  • Partnership contracts review.

Investment

  • Deal structuring with equity and/or debt.
  • Corporate governance and investor protections. Asset collateral and data collection for debt.
  • Integration with payment systems for revenue financing.
  • IP protection certification.

Targeted Portfolio Makeup

Caribbean Tech Opportinity

20% Pre-Seed Stage

Company Type: Idea-stage startups (just founders, early concept).

Needs: Validate idea, build MVP (Minimum Viable Product).

Investors:
• Founders’ own savings
• Friends and family
• Angel investors
• Pre-seed venture funds

Investment Size: $10K – $250K

20% Seed Stage

Company Type: Early-stage startups with MVP or prototype.

Needs: Product development, early hiring, user acquisition.

Investors:
• Angel investors
• Seed venture capital firms
• Startup accelerators (e.g., Y Combinator, Techstars)

Investment Size: $250K – $1M

50% Series A Stage

Company Type: Proven product-market fit, growing user base or revenue.

Needs: Scaling operations, hiring, refining business model.

Investors:
• Venture capital (VC) firms

Investment Size: $1M – $3M

10% Series B, C, D... (Growth Stages)

Company Type: High-growth companies with strong traction and revenue.

Needs: Market expansion, team growth, internationalization, acquisitions.

Investors:
• Late-stage VC firms
• Strategic investors (corporates)
• Private equity

Investment Size: $3M+

Limited Partner (LP) Profile

Anchored by stable, long-horizon institutional capital

LP Distribution Chart Placeholder

Key Fund Terms

Morro Ventures Caribbean Fund

Target Size: $15 Million+

Institutional anchor investors.

Investment Focus

High-growth companies creating tech-enabled services and solutions, backed by visionary founders driving progress and regional development.

Co-Investment Networks

Leveraging strategic global partnerships for scalable growth

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DFIs

DFIs

Sector VCs

Sector VCs

Corporate VCs

Corporate VCs

Impact/Family Offices

Impact / Family Offices

Sovereign/Diaspora Funds

Sovereign / Diaspora Funds

Syndicated Deal Flow

Syndicated Deal Flow

Flow-On Capital Access

Flow-On Capital Access

Cross-Border Scaling

Cross-Border Scaling

Strategic Sector Alignment

Strategic Sector Alignment

PORTFOLIO

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