VCTF operates through Venture Capital Finance Companies (VCFC). Each VCFC is managed by a Fund Manager, licensed by the Securities and Exchange Commission (SEC). VCFCs (fund vehicle) act as intermediaries between SMEs requiring funds for viable business projects and the Trust Fund. Investment proposals are received and reviewed by the Managers of the VCFCs, who have the mandate to decide on investments after approval process by the their Investment Committees / Boards.

VCFCs are encouraged to invest in all sectors of the economy but are precluded from investing in businesses that engage in direct imports to sell.

An SME is defined under the VCTF Act as a business whose total assets base, excluding land and building, does not exceed the cedi equivalent of USD 1million and whose total number of employees do not exceed 100 persons.