Florida-based impact investment firm Blue Mahoe Capital Inc. officially launched its Caribbean diaspora bond offering for US investors. 

Commencing on February 1, the symbolic start of Black History Month, the offering represents a significant step in harnessing private investment to tackle pressing housing challenges across the Caribbean

The US$5 million bond offering, structured under Regulation CF of the JOBS Act, is designed to attract US investors seeking fixed, guaranteed returns.

The investment will be managed through a special purpose vehicle, Blue Mahoe Real Estate Partners, offering a five-year term bond with an annual interest rate of 10 per cent, paid semi-annually. Each bond is priced at US$100, with a minimum purchase requirement of 1 bond, ensuring accessibility for retail investors.

“I served on the Jamaica Diaspora Advisory Board and we spent too much time talking about a diaspora bond. Now, we’ve created a transparent, audited, and regulated structure to build trust among investors, particularly the Caribbean Diaspora,” said David Mullings, founder and CEO of Blue Mahoe Capital. “This bond offering provides a stable investment option while contributing to critical housing development in the Caribbean,” he explained.

Specialising in affordable housing in the Caribbean, in May 2024, Blue Mahoe Capital made history as one of the first US-based companies to secure SEC qualification to raise capital from retail investors for investments in the region.

Through its initial offering, the company has been selling shares at $10 per share with a minimum investment of US$500, paving the way for broader participation in the region’s growth. The ultimate goal is to list on NASDAQ, offering investors a regulated, liquid way to gain exposure to the Caribbean market.

Building on this foundation, the bond offering represents an option to provide fixed-return investments for investors looking to the Caribbean and seeking guaranteed returns while reinforcing Blue Mahoe’s commitment to transparency and impact.

“The Jamaican Diaspora has long shown interest in contributing to Jamaica’s growth, but trust deficits have been a barrier,” noted Robert Mullings, chief operating officer of Blue Mahoe Capital. “By utilising SEC-regulated entities, we aim to bridge this gap and offer a credible investment avenue.”

The proceeds from the bond offering will primarily fund affordable housing developments in Jamaica. The flagship project, Penn Village in Old Harbour, St Catherine, has already garnered significant interest, with a model unit completed and over 258 potential buyers expressing interest in the first 200 homes of a planned 700-unit development.

Blue Mahoe Capital plans to evaluate the success of the US bond offering and, based on demand, will consider expanding to Canadian and UK markets later in 2025.

“This strategic approach aligns with the company’s mission to harness diaspora capital to unlock investment for impactful development across the Caribbean,” shared Mullings.