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One to Watch to build largest PE fund

Investment management company One to Watch announced its partnership with venture capital and private equity firm True North Associates. The partners aim to accelerate access to finance for innovative companies in Nepal by building the largest private equity fund in the country for early stage growth companies.

One to Watch is launching this 20-million-Euro fund – Nepal Impact Investment Community 2 (NIIC 2) after the successful implementation of its pioneer fund NIIC 1. With this partnership, One to Watch aims to develop the venture capital and private equity market in Nepal through investments and business support to entrepreneurs.

The partnership between One to Watch Nepal (OTW) and True North Associates (TNA) brings together experience and expertise. TNA has acquired a substantial share in OTW, the SME portfolios of both companies will be combined and TNA Chairman Suman Joshi will take up the role of Managing Director at OTW. Joshi will share his responsibilities as Managing Director with OTW Founder Willem Grimminck, who remains the majority shareholder and stays on as Chairman and Managing Director.

Grimminck, a Dutch national who has been living in Kathmandu for six years, will focus increasingly on raising funds, fund management and business development. “We want to go beyond finance in our support to Nepali companies,” says Grimminck. “By expanding our service and support to our portfolio companies we intend to accelerate their growth.”

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