Tamuning, Guam — The Guam Economic Development Authority (GEDA) is proud to announce its first two investments under the State Small Business Credit Initiative’s (SSBCI) Destinu Guåhan Venture Capital (DGVC) program. These strategic investments underscore GEDA’s commitment to revitalizing Guam’s tourism industry as well as the island’s ongoing need for food security.

Fish Eye Marine Ventures, Inc. diversified its existing product offering by resurrecting Seawalker, an innovative underwater helmet diving experience located at Fish Eye Marine Park. Destinu Guåhan’s investment was $245,000 for a 49% ownership stake in the venture. The second investment made was for Vertical Industries, Inc. for an indoor agriculture hydroponic aeroponic venture in the amount of $786,450, the first $550,000 of which was for the first phase of the venture, with the remainder upon achieving certain revenue hurdles. This also represented a 49% ownership stake of Destinu Guåhan in the venture. Applicants needed to pledge 51% cash match towards the projects. This represents a total of approximately $2 million in new investments coming from the private sector and GEDA’s venture capital program into the economy.

GEDA currently has available $10 million in venture capital funding under the State Small Business Credit Initiative (SSBCI), a nationwide program of the US Department of the Treasury. Capital investments are required to create jobs and generate economic activity in the private sector. Applicants need to provide a business plan with detailed financials, a ten-year exit plan to buy out the Destinu Guåhan portion, and evidence of a 51% cash match. Under the program, eligible businesses can receive up to $1.0 million per project per phase, ensuring vital support for businesses seeking to expand or launch innovative ventures. Preferred industries include tourism revitalization, agriculture and aquaculture, and technology ventures.

“Through Destinu Guåhan, we aim to foster economic resilience and empower local businesses,” said Melanie Mendiola, CEO and Administrator of GEDA. “By providing accessible funding, we enable small enterprises to thrive and contribute to Guam’s long-term prosperity.”

Businesses interested in learning more about the Destinu Guåhan VC program can seek technical assistance from the University of Guam’s Small Business Development Center (SBDC). Additional details can also be found on the GEDA website www.investguam.com/destinuguahan or by contacting Edward Camacho at edward.camacho@investguam.com or Tina Garcia at tina.garcia@investguam.com.