Gazelle brings the mezzanine financing model to the Caucasus and Central Asia

The first fund to bring the mezzanine financing model to the Caucasus and Central Asia, Gazelle, is a great example of learning and improvement achieved through Technical Assistance and Business Development Services (BDS). The Dutch Good Growth Fund (DGGF) has been working with the fund since 2015, and the Seed Capital and Business Development facility (SC&BD) has been providing BDS and Technical Assistance since 2017.

Setting up a BDS facility

Cooperation between SC&BD and Gazelle started with the fund setting up a BDS facility, providing zero-interest loans and non-reimbursable business development services to Gazelle’s portfolio companies. Using SC&BD support, Gazelle has been addressing the most pressing challenges SMEs in the region face in their growth path. The support includes preparation of business plans, business advisory and legal assistance, expert advice on financial management and reporting, ESG compliance, and training events.

In support of BDS, SC&BD provided Gazelle with Technical Assistance in professionalising their services. This included support for staff training and building a database of BDS providers as well as quality control.

Image: ©Gazelle Finance
2019 Gazelle Finance Women in Business Leadership and Entrepreneurship Forum.

Gazelle Women in Business Initiative

Lately, Gazelle has been focusing on building up their commitment to female entrepreneurs. DGGF has been supporting them in setting up the Gazelle Women in Business Initiative, which is taking a thorough approach to assisting female entrepreneurs. The main focus points for this initiative are the development and mentoring of leadership talent, the promotion of female entrepreneurship and providing finance to women-owned and women-led businesses.