Supporting Cultures…Building Futures

Dolma Impact Fund I logoDolma Impact Fund I is the first commercial impact fund ring-fenced for Nepal providing growth capital to Small and Medium Enterprises (SMEs). The fund’s first close is subscribed at USD21m and is now open for final close commitments with a target size of USD40m. The fund is being established with support from the UK Department for International Development (DFID) to generate private sector-led growth and jobs alongside positive social and environmental impact in Nepal.

Economic growth and soaring Foreign Direct Investment (FDI) in Nepal since the peace accord in 2006 have driven demand for products and services, but a lack of growth capital, technology and skills have suppressed supply. This has created specific opportunities in key sectors such as Education, Healthcare, Renewables, Agriculture, Ecotourism, Water and Financial Inclusion to deliver impressive returns alongside measurable social and environmental benefits. In addition, the growing trend of impact funds and private equity funds in South Asia (inc. India, Sri Lanka, Pakistan and Bangladesh) has provided global investors with experience and comfort in operating in the more peripheral South Asian markets. Nepal is the natural next step.

Dolma Impact Fund is also a bridge to world-leading technology and research institutions, as well as educational programmes which are currently lacking in Nepal and are important to successful capital deployment. They will help businesses scale and deliver profitable solutions to low-income communities.

The Board and Management Team and Advisory Board consist of senior individuals dedicated to sustainable prosperity and ethical investment in the developing world. They combine nine years of impact investing in Nepal with international finance and corporate governance having managed successful financial transactions in excess of $10bn across developed and emerging markets.

Dolma Impact Fund Team

The team of the Dolma Impact Fund’s management company include the following. There are currently five full time management employees dedicated to the Dolma Impact Fund with an office in Kathmandu.

  • Tim Gocher, Founder & Executive Chairman
    • Formerly Deloitte, J.P. Morgan, E.On and MD at Interregnum plc
  • David Grigson, Director
    • Trinity Mirror plc Chairman and former Reuters plc CFO
  • Rameshore Prasad Khanal, Director
    • Formerly Nepal Finance Secretary, Central Bank Director, Alternate World Bank and ADB Governor (Nepal), and Economic Advisor to the Prime Minister.
  • Ian Taylor MBE, Advisory Board, Government Relations and Technology
    • Formerly UK Minister of Science and Technology with 23 years in Parliament
  • Professor Michael Hay, Advisory Board, Entrepreneurship and Academic Ecosystem
    • Global leader in emerging market entrepreneurship and training
    • Professor at London Business School
  • Narayanan Shadagopan, Advisory Board, Fundraising and Investment Best Practice
    • Founder of Pragati Fund – a $70m India fund financed by CDC and IFC with goals similar to those of DIF
  • Peter Kellner, Advisory Board, Global Media and Politics
    • President of YouGov global polling and market research firm, and former journalist and broadcaster
  • Shabda Gyawali, Investment Manager
    • Formerly Beed Management, US MBA-educated, returned to native Nepal for Dolma Impact Fund opportunity

Download Further Information

If you are an investor or represent investors and would like to download the Dolma Impact Fund Executive Summary and further background information, please register with Impact Partners, Asia’s first private placement platform for social enterprises and social venture fund investments.

Impact PartnersImpact Partners is a user-friendly, private, online platform that connects global impact investors with a select group of pre-screened investment opportunities across Asia-Pacific. Impact Partners provides an efficient avenue for investors to identify, evaluate, and invest in social and environmental investment opportunities. You may register online as an investor using the following link: For regular membership, there are no joining fees. Premium membership requires an annual membership fee but offers greater access to information and investment services. Please visit the site for more details.

If you are not an investor, or have any difficulty with the above process, please email here to request further information on the Dolma Impact Fund.

Press and other Resources

Asian Voice

Dolma Impact Fund launch - an interview with Nepal's Ambassador to UK on Dolma Impact Fund and Nepal's "Enormous Future", by Rani Singh.
The Economist

Tim Gocher's letter on Nepal's economic growth in the face of political uncertainty, and launch of Dolma Impact Fund I.
Dolma Impact Fund I logo

Video highlights of the Dolma Impact Fund I Launch Event at the Embassy of Nepal. Speakers: His Excellency Dr Chalise (Nepal Ambassador to UK), David Grigson (DIF Director and Trinity Mirror Chairman) and Tim Gocher (DIF Founder and Chairman).
Coller Institute

Tim Gocher's blog at London Business School's Coller Institute of Private Equity on the convergence of for-profit and non-profit Private Equity Funds and the launch of Dolma Impact Fund I.

Report of Dolma Impact Fund I launch.
Impact Quarterly

This article by Tim Gocher outlines the positive outlook for inward investment including Impact Investment in Nepal.
Dolma Impact Fund I logo

Photo Gallery of launch event. Photography © Charles Sturge.