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GRDF Investment Portfolio


As of September 30, 2009, GRDF has invested US $ 21 million into 10 Georgian businesses. Profiles of the investments are presented below. GRDF will continue to make investments until October 2011 or until all fund capital is expanded.

Madai
Business: Black Sea Anchovy Fishing
Use of Funds: Purchase of ship and equipment  and processing plant upgrades
Opportunity:  First Georgian company to utilize fishing license rather than leasing out to Turkish ships
Website: www.madai.ge

Prime Concrete
Business: Concrete production, transport and pumping services
Use of Funds: Mobile factory equipment, pumps and mixers
Opportunity: First large scale production facility in Western Georgia, to meet upcoming demand for Poti port and other developments
Website: www.primeconcrete.ge

Piunik
Business: Integrated poultry business
Use of Funds: Equipment, hatching hens, working capital
Opportunity: Expansion from poultry imports to own production of eggs, incubation and feed, addressing limited supply from Armenia and growing demand
Website: Under development

Tetnuldi
Business: Mountain Hotel
Use of Funds: Construction  & working capital (start-up)
Opportunity: First major private tourism investment in Svaneti, one of Georgia’s strongest tourism assets, offering quality accommodations and complete “tourism experience”
Website: www.tetnuldi.ge

BAZI
Business: Food canning/jarring and concentrate production
Use of Funds: Apple concentrate production equipment
Opportunity:  Cannery with largest distribution in Georgia entering apple concentrate production, which is in high demand in Europe & globally
Website: www.bazi.ge

Rcheuli
Business: Georgian hotel chain
Use of Funds: Construction of hotels
Opportunity: First company to develop hotel chain outside of Tbilisi, addressing lack of any comfortable accommodations other than guest houses in key tourism locations 
Website: www.rcheuli.ge

Dogan
Business: Animal Feed & Pet Food Producer
Use of Funds: Equipment, facility improvements, working capital
Opportunity:  Compound and extruded feed producer with opportunity to expand sales in Georgia, Armenia and Azerbaijan through import-substitution.  Currently the only producer of extruded feed (feed for fish, early stage poultry and pet food) in the Caucasus.
Website: Under development

Delta Comm
Business: Fibre Optic Internet Cable Infrastructure Development
Use of Funds: Equipment to expedite construction
Opportunity:  To be the first nationwide fiber-optic network in Georgia, providing important back-up systems to Internet Service Providers and existing Georgian telecoms.
Website: www.delta-comm.ge

Ecopex
Business: Hazelnut processing/export
Use of Funds: Purchase of land, processing equipment, and working capital
Opportunity:  Opportunity to enable capacity increase for a smaller but technically capable player.  Contracts, LOIs and other leads in place.  Steady growing global demand.
Website: Under development

Doki
Business: Residential and commercial furnishings and construction materials retailer/wholesaler
Use of Funds: working capital
Opportunity:  Expansion of existing business to be first to provide full range of products, to develop advantages of “chain” structure and complete warehouse with real time inventory information.
Website: www.doki.ge