Caribbean Venture Capital Fund (“CVCF”), a new VC fund inspired by the Development Bank of Jamaica, is pleased to announce that it has secured approval from its Investment Committee to acquire a stake in Doorstep Jamaica Limited (“Doorstep”).

The Fund, managed by CMGP LLC, a subsidiary of Mscale LLC, focuses on early-stage scalable businesses. CVCF is a US$ 50 million fund targeting a finalise close in May of 2025.

Doorstep is a rapidly growing online delivery service. This investment is aimed at accelerating Doorstep's expansion within Jamaica, the Caribbean, Latin America, and eventually Africa.

This funding will help Doorstep enhance its platform, scale operations, and diversify its services to meet the growing demands of customers across the region. In addition to food delivery, Doorstep plans to broaden its service offerings to include the delivery of groceries, medicines, and other essential services, addressing the needs of locals and fulfilling orders for Jamaicans living abroad.

About Doorstep:
The team of Victor Clemetson (CEO) and Javed Cameron (COO) have been in the delivery space for a decade. They founded Doorstep in 2018 and grew rapidly during the pandemic.  The company operates with a strong organizational structure and is supported by an advisory board with extensive experience in the Jamaican market. Doorstep’s business strategy includes both vertical and horizontal expansion, focusing on increasing daily deliveries and broadening its service offerings. For more information, visit here.