Over the last few weeks, OTW has been closely monitoring announcements from local government authorities and international organizations. In response to recent developments, the following measures have been implemented:
Continuation of Support for SGBs
As we brace ourselves for the economic consequences of the pandemic, SGBs will need more support than ever. During this time, OTW is committed to continue our support for SGBs. Our team will continue to operate and provide business development services virtually.
Work from Home
All OTW employees are currently working from home and practicing social distancing. Non-essential tasks that require employees to travel or leave their homes have been postponed.
Postponing of All OTW Events
All events organized by OTW will be postponed until further notice from local government authoriti
One to Watch has entered into a partnership with True North Associates, an investment management company also based in Nepal. Through this partnership we aim to accelerate access to finance for innovative companies in Nepal by building a venture capital fund in the country for early-stage growth companies.
Access to Finance
As Nepal’s pioneering investment management company One to Watch is once again leading the way in improving access to finance in Nepal. In a move to realize a 20 million euro venture capital fund, we have collaborated with True North Associates. One to Watch launched this 20 million euro fund – Nepal Impact Investment Community 2 (NIIC 2) after the successful implementation of our pioneer fund NIIC 1. With this partnership, we aim to develop the entrepreneurial ecosystem of Nepal through investments and business support to entrepreneurs. This collaboration will help Nepalese SMEs grow by promoting international and local co-investments. Providing access to finance, and enabling companies to grow is a vital requirement for the economic development of the country.
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, who founded TNA in 2014 after 24 years in the banking industry including 12 years at Standard Chartered Bank in Nepal, will focus on expanding the SME portfolio. Joshi believes that “SMEs in Nepal have high impact potential but need help scaling up”. The arrival of Joshi strengthens our team tremendously as the former banker brings in extensive investment management expertise, vast experience and a large network.
Joshi will share his responsibilities as Managing Director with OTW-Founder Willem Grimminck, who remains the majority shareholder, and stays on as the 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 Nepalese companies,” says Grimminck. “By expanding our service and support to our portfolio companies we intend to accelerate their growth.”
es. We remain optimistic of the situation and hope to resume our planned events and workshops by the end of April.
OTW thanks you for your patience and understanding while we operate with limitations in the coming days.