KATHMANDU, Dec 15: Nepal’s prominent private equity and venture capital firms have set up Nepal Private Equity Association (NPEA), targeting at promoting alternative investment by bringing together stakeholders in Nepal’s expanding entrepreneurial ecosystem.
The NPEA, a profit non-distributing entity, has incorporated the firms including Accelerator Nepal, One to Watch, Business Oxygen (WLC Ventures), Team Ventures, Dolma Advisors and True North Associates as its founding members. Of these, One to Watch has received support from UKAID to initiate ground activities for the conceptualization and incorporation of the NPEA.
Suman Joshi has chaired the founding board of the NPEA. Siddhant Pandey, Bidhya Baridhi Sigdel, Anupam Man Chhantyal and Tenzin Sonam Gonsar have been appointed as members, reads a NPEA-issued press release.
Nathanael Bevan, Head of Economic Development Team at British Embassy Kathmandu, said they have come up with the initiative as Nepal’s first private equity association. “This initiative will provide the growing private equity/venture capital sector in Nepal with much needed representation, as well as a formal engagement platform with government agencies and regulators. It will also enable a more progressive investment climate, which will help firms to grow and become more productive, thereby supporting economic growth in Nepal,” he said.
Alternative or specialized investment activities have been bubbling in Nepal for the past few years. A number of investment firms, private equity funds and venture capital providers have been investing in Nepali businesses and helping them grow. Ancillary service providers like legal, business incubation and accelerators have also been very active in contributing to the ecosystem.
“We have come together to formally incorporate the association in order to set high standards for the alternative investment industry,” said NPEA Chair Suman Joshi.