BAKU, Azerbaijan, July 8
By Tamilla Mammadova – Trend:
Gazelle Fund LP that targets growth-capital investments in small and medium enterprises (SMEs) in the Eurasia region, continues to invest in Georgian SMEs with high growth potential, Trend reports with reference to Georgian media.
The fund has recently invested $2.2 million in Saniore Winemaking, a wine production facility with one of the largest vineyard acreages in Georgia. These vineyards are located in the famed Kakheti region. Saniore Winemaking exports its wine under the brand Sanavardo.
Despite the global downturn, Gazelle Finance continues to invest in strategically important business opportunities that are a priority for the development of Georgia and generate hard currency. This investment strengthens the agricultural and export sectors, and specifically the country's winemaking industry. It will also create additional high skilled jobs in the local wine appellations.
“Saniore Winemaking has significant untapped vineyard and production capacity, and we believe that by leveraging the partnership with Gazelle Finance, the company is well positioned to become one of the leading exporters of wine from Georgia”, said CEO of Gazelle Finance Jeffrey Liebert.
Georgia with over 8,000 years of winemaking history is known as being the cradle of winemaking. Wine-producing is a strategically important agribusiness sector for Georgia because it’s a high added-value sector that generates hard currency inflows.
Not only have Georgian wine exports been growing at an average rate of 20 percent over the past 10 years, but winemaking traditions and culture are an important draw for tourists, especially the region of Kakheti, which is known for its endemic species of grapes.
Established in 2020, Saniore Winemaking is a wine producer with 65 hectares (161 acres) of its own vineyards and cultivates grape varieties such as Saperavi, Rkatsiteli, Shiraz and Cabernet.
In March 2017, Gazelle Finance launched an investment fund with $42 million in committed capital that offers growth-oriented risk capital to small and medium enterprises in Eurasia region.
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