10th November 2023, Kathmandu
Nepal Private Equity Association, in Collaboration with UN Capital Development Fund, Unveils Agora to Revolutionize Access to Capital for Nepalese SMEs
In a groundbreaking move, the Nepal Private Equity Association (NPEA) has joined forces with the United Nations Capital Development Fund (UNCDF) to introduce “Agora,” a cutting-edge web platform designed to connect entrepreneurs in emerging markets with investors and experts. This collaborative initiative aims to foster innovation, job creation, and entrepreneurship, ultimately propelling economic growth in Nepal.
NPEA plans to leverage the Agora platform to advance its mission of promoting access to finance for small and medium-sized enterprises (SMEs) in Nepal. The announcement marks a call-to-action among NPEA’s diverse membership, including investment firms, fund managers, and financial services providers, urging them to utilize Agora to achieve the association’s strategic objectives.
Having agreed on joint support for Agora in July, NPEA and UNCDF have now officially launched the platform, positioning Nepal as one of the pioneering countries to deploy Agora on a national scale.
Siddhant Raj Pandey, Chairman of NPEA, expressed his enthusiasm about the partnership with UNCDF, stating, “Agora will complement our deal-sharing platform and provide access to our entrepreneurs and investors to a much wider perspective. Partnerships like this help expedite innovation as NPEA strives to enhance the alternative investment ecosystem in Nepal.”
Xavier Michon, Deputy Executive Secretary of UNCDF, highlighted the global impact of Agora, calling it a “global public good” that addresses the information gap hindering investment finance in emerging economies. Agora aims to bridge this gap, delivering vital capital to businesses, entrepreneurs, and communities in Nepal that have been underserved by the global financial architecture.
NPEA’s objectives include strengthening and promoting Nepal’s private and alternative investment ecosystem. Through Agora, the association seeks to close the information gap, enabling Nepalese SMEs to access investment finance from regional and global capital providers. Agora will serve as an aggregator and database of investors, fostering collaboration between private equity and venture capital firms within Nepal and beyond.
Utilizing advanced algorithms and artificial intelligence, Agora facilitates connections between entrepreneurs and investors, providing a diverse pool of funding opportunities for SMEs. In collaboration with like-minded partners, UNCDF aims to deploy Agora globally, reaching approximately 20 countries by the end of 2023.
This groundbreaking initiative signifies a significant leap forward in advancing Nepal’s economic landscape, promoting inclusivity, and unlocking the untapped potential of SMEs through enhanced access to capital and global collaboration.