Our investment decisions are based on fundamental research. Our criteria for investments include:

• Investment Rationale - Superior risk adjusted rate of return on invested capital.
• Sound Financial - Established businesses exhibiting sustained above-average earnings growth, a solid balance sheet, strong profitability, and healthy cash flow.
• Attractive Valuations - Attractively priced securities in relation to their earnings growth potential, asset base, and/ or cash flow.
• Competitive Edge - Competitive advantage, leading to/ reflected in dominant and defendable market position.
• Competent Management - Capable, experienced and forward-looking management teams, committed to creating shareholder value; specific emphasis on good corporate governance.
• Appropriate Size - Appropriate size to: (i) ensure sufficient influence for BVIM over the investee company and (ii) manage relative risk within the portfolio.
• Well Defined Exit Strategy - Public listings, strategic sales, secondary market sales.

Our investment universe includes primarily unlisted securities, including private companies and state-owned enterprises in the process of privatization. To a lesser extent, our funds may also invest in listed securities, infrastructure and other projects.