The Nepal Securities Board has given licenses to five more companies to operate as Private Equity and Venture Capital (PEVC) firms. This comes under the Specialized Investment Fund Regulations, 2075.
The five companies getting the PEVC license are:
- Mogha Infrablacks Private Ltd.
- Maverick Kautilya Venture
- Team Partners Fund Limited
- Apex Funds Ltd.
- Multiply Capital Management Ltd.
Out of these, Mogha Infrablacks and Maverick Kautilya Venture had already received their licenses two months ago. The other three companies received theirs this month, in Mangsir.
Mogha Infrablacks plans to invest only in renewable energy projects like hydropower and solar energy. The company aims to raise funds both from Singapore and within Nepal. Mogha Energy is the main investor in this company. Mogha Energy has invested in three hydropower projects in Ramechhap: 51 MW Likhu A, 77 MW Likhu 1, and 55 MW Likhu 2. All three projects are now producing electricity. The chairman of Mogha Energy is Samarth Mogha, who has also played a key role in other hydropower projects under the MV Dugad Group.
Apex Funds Ltd. is chaired by former CEO of Nabil Bank, Gyanendra Dhungana. Team Partners Fund Limited is backed by the Team Ventures Group.
With the addition of these five companies, the total number of licensed PEVC firms in Nepal has reached 18. Another 32 companies are still waiting in the pipeline for approval from the Securities Board.
