Kadeen Mairs lines up fresh Jamaican investments after Dolla stake sale

Founder of loan company Dolla and lead principal of Dequity Capital Management  Limited, Kadeen Mairs is flush with cash after selling his 20 per cent stake in Dolla, the company he built to Mayberry for around J$1 billion.

Mayberry now holds a majority stake in Dolla. Ryan Reid’s Premier Private Equity owns 9% of Dolla.

Now with a substantial war chest and his pockets bulging with cash, Mairs intends on investing in a number of diverse businesses, keeping faith in Jamaica’s productive and business sector.

Dequity has 7 portfolio companies, including Elite Concepts and Solutions, MDLink, Johnston Development Group, M-TwentyFour Investments, and Pinnacle Insurance Brokers Jamaica Limited.

Mairs will now add to these with a number of new investments.

Mayberry Jamaican Equities has tremendous faith in Dolla buying another 7 million shares in it earlier this year and now holds 12.3 per cent of the company.

Kadeen Mairs formed Dolla in 2009 and started issuing loans in 2014,  making a mark in his home parish of  Grange Hill, Westmoreland, attracting the attention of financial sector players in Kingston, with Mark Croskery, who headed  Stocks and Securities Limited (SSL) back then, keen to be part of the growing company.  Ryan Reid’s Premier Private Equity made a move, acquiring significant holdings, later selling its position to Mayberry for $2 billion, leaving Mairs with 20 per cent of Dolla.

Dolla turned to the junior market of the Jamaica Stock Exchange in June  2022, making history with the largest over-subscription in recent times. With its IPO, it was looking for $500 million, but such was the demand it raised $5 billion, oversubscribed by 950 per cent

Much of the management team Mairs put in place at Dolla is still there, and the company is growing. It is clear to see why both Premier Private Equity and Mayberry saw its potential and decided to make substantial investments in it. 

Having built Dolla, Mairs will turn his attention to stamping his imprimatur on other companies with the resources he now possesses. He will also be paying down on liabilities 

Dequity has an asset base of US$19 million (J$42.8 billion) with $500 million in cash on the balance sheet. Mairs is no longer leveraged and will be looking to make his impression felt in the financial services space.

For Q1 2026, Dolla posted a net profit of $187 million, a 55 per cent increase year over year. It increased its loan portfolio by 15 per cent to $5 billion and grew its assets by 30 per cent.

Back in July 2023, when Mairs resigned from Dolla, he issued a statement which signalled his intent to invest in a variety of Jamaican companies.

“As some members of the public may know, I have always had a passion for investing in and supporting entrepreneurs who are growing and realising the potential of their own companies. I founded the private equity company Dequity Capital Management Limited for exactly this reason. In fact Dequity Capital owns 20 per cent of Dolla.

“ I have for some time now considered a decision to throw my full weight behind Dequity Capital but this was not possible as I piloted Dolla Financial during a period of immense growth where Dolla expanded its services regionally, became listed on the JSE and became a household name locally.

“While I am extremely proud of the progress  Dolla has made, my innate desire of supporting other entrepreneurs like myself to maximise opportunities for growth has taken over.”