“NIC ASIA Capital Limited is delighted to announce a significant development in its growth trajectory as True North Associates (TNA), a distinguished Private Equity & Venture Capital firm, has committed to acquiring a strategic equity stake in our capital. The definitive agreement, formalized today among key stakeholders, including Mr. Roshan Kumar Neupane, CEO of NIC ASIA Bank, Mr. Suman Joshi, Founder & Chairman of TNA, and Mr. Santosh Kumar Rathi, Chairman of NIC ASIA Capital Limited, marks a pivotal moment for our organization.
This strategic partnership exemplifies NIC ASIA Capital’s vision to position itself as a leader in the PE/VC space by harnessing synergies and fostering collaboration with TNA, a trailblazer in Nepal’s Private Equity & Venture Capital landscape. TNA, known for its pioneering role, directs investment activities through its flagship permanent capital vehicle into scalable businesses, displaying a preference for disruptive and technology-enabled ventures.
NIC ASIA Capital, holding licenses from the Securities Exchange Board of Nepal (SEBON) for Fund Management and Merchant banking services, has recently acquired the ‘Fund Manager’ license under the Specialized Investment Fund (SIF) Regulations, allowing it to operate private equity funds.
This alliance with TNA signifies a strategic milestone in the journey of NIC ASIA Capital, positioning us for sustained growth and success in the dynamic PE/VC domain. We eagerly anticipate the collaborative opportunities that lie ahead and are confident that this strategic alliance will contribute significantly to our shared long-term success.”
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