INSEAD Emerging Markets Podcast: Recent Episodes

INSEAD Emerging Markets Podcast by Nick Lall

Conversations with leading emerging markets movers and shakers on their personal journeys and insights into the countries they operate out of.

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Kevin Carter is the founder of EMQQ Global and a leading voice in emerging markets investing. In his first appearance, he broke down the investment case for digital consumption in emerging markets. In this follow-up episode, Kevin returns fresh from a month-long trip to India, where he went beyond the usual business hubs to explore tier 2 and tier 3 cities, the infrastructure transformation, and why India might be the most compelling EM story of the next two decades.

In this episode we cover:

  • (00:01:30) What Kevin saw firsthand in Uttar Pradesh and Ahmedabad that made him more bullish on India’s tier 2 and 3 cities
  • (00:06:52) The rise of entrepreneurship in smaller cities and why the next unicorns may come from beyond IITs and IIMs
  • (00:12:41) How India Stack digitized over a billion lives and added trillions in hidden infrastructure value
  • (00:24:42) The explosion of quick commerce in India and why it may disrupt not only kirana stores but also Flipkart and Amazon
  • (00:36:46) Why Mumbai’s infrastructure boom rivals what Kevin saw in China 20 years ago
  • (00:41:59) Why you need to visit India to understand its transformation and how old stereotypes are holding back global perception

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Djasur Djumaev, Founder and CEO, and Nikolay Seleznev, Co-founder and Chief Strategy and Business Development Officer of Uzum, Uzbekistan’s first tech unicorn, joined us for this episode. Uzum became a unicorn in just two years, and now serves as the country’s leading e-commerce and fintech ecosystem. In this episode, they share how they built a household name in a largely offline market, their strategy for leapfrogging infrastructure gaps, and why Uzbekistan is one of the most exciting frontier markets today.

In this episode we cover:

  • (00:01:11) Why Uzbekistan had almost no e-commerce before Uzum, and how they built everything from scratch, including last-mile logistics
  • (00:07:50) How they scaled to 12,000 employees in under two years and blended expat and local talent to build a winning culture
  • (00:10:33) The macro case for Uzbekistan: 6.5% GDP growth, 99% literacy, 87% smartphone penetration forecast by 2027
  • (00:15:27) How 50% of adults were unbanked just four years ago — and how Uzum onboarded millions to financial services
  • (00:22:57) Jasur’s fundraising journey: starting with his own capital, then attracting top U.S. and MENA investors despite skepticism about Uzbekistan
  • (00:28:20) Where they plan to IPO, and what’s next for Uzum as they prepare for a dual listing and regional expansion

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Jan Riehle is the CEO of B4A, a leading Brazilian beauty marketplace with over 700,000 active users. An INSEAD ’09D, Jan began his career in M&A and private equity in Switzerland before joining Springstar, a German-Swiss venture builder, to manage their Brazil operations.

In this episode we cover:

  • How he acquired and merged two struggling beauty companies (Glambox and Men’s Market) into what is now B4A (00:00:24; 00:05:28)
  • His approach to restructuring and achieving breakeven in just four months by integrating company cultures and cutting fixed costs (00:11:39; 00:12:21)
  • How B4A grew 10x in size and revenue, leveraging subscriptions, micro-influencers, and B2B services (00:19:41; 00:28:02)
  • His thoughts on AI’s impact on labor, business efficiency, and why every employee at B4A is expected to use AI tools (00:28:02)
  • His long-term vision for B4A, including potential international expansion, IPO, or SPAC exit (00:36:18)

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In this episode, I speak with Amr Habis, a transformational leader with expertise in engineering, project management, and business strategy, who has played a key role in Saudi Arabia’s Vision 2030. With experience spanning organizations like Aramco, OEM Group, and the Saudi National Guard, Amr provides deep insights into Saudi’s economic shift, infrastructure boom, and cultural transformation.

We discuss:

  • Amr’s career journey – from engineering and construction to oil & gas and eventually entrepreneurship, and how he finds fulfillment in constant learning and transformation.
  • Saudi’s Vision 2030 at two levels – the "hardware" changes (megaprojects like NEOM and Riyadh Metro) and "software" changes (cultural and societal shifts).
  • The cultural evolution – how Saudis are embracing uncertainty, breaking from traditional career paths, and seeking more personal fulfillment.
  • The “New Unknowns” – how the younger generation is redefining ambition, financial stability, and career choices in response to the rapid changes in Saudi Arabia.
  • Challenges for business owners – how SMEs and long-established companies are adapting to regulatory overhauls and a fast-changing market.
  • Why Saudi shouldn’t be judged by global benchmarks – how cultural uniqueness shapes policy, business, and urban development differently than in the West.
  • The rise of the Saudi entrepreneurial ecosystem – why businesses in Saudi are creating their own "Blue Ocean" strategies to differentiate and innovate.
  • Leadership and mindset transformation – the most critical factor in successfully navigating change, both for individuals and companies.
  • His passion for Arabic calligraphy – preserving and modernizing Saudi culture through an upcoming podcast dedicated to this historic art form.

A fascinating conversation for entrepreneurs, investors, and anyone interested in Saudi Arabia’s unprecedented transformation under Vision 2030.

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In this episode, we are joined by Waleed AlBanawi, an INSEAD 05D, Executive Chairman & CEO of Banvest Group, and former chairman of Young Presidents' Organization (YPO) MENA. Waleed has deep experience in traditional industries, venture capital, and regional economic transformation.

We discuss:

  • His father’s entrepreneurial journey – pioneering industrial business in Saudi Arabia before the oil boom, securing funding when banks wouldn’t lend to industry, and overcoming regulatory and workforce challenges.
  • Lessons in resilience – how early exposure to adversity through boarding school, competitive sports, and business challenges shaped Walid’s leadership style.
  • Transitioning from family business to venture capital – after 26 years in manufacturing, Walid moved into VC to support tech entrepreneurs and invest in disruptive businesses across MENA.
  • Challenges for startups in the GCC – why many founders fail due to a lack of market fit, the importance of adaptability, and how capital mismanagement affects long-term success.
  • Investment philosophy – key criteria he looks for in startups: sector growth potential, path to profitability, strong governance, and building scalable teams.
  • Saudi Arabia’s Vision 2030 – how government reforms, digital transformation, and policies are accelerating private-sector growth and attracting investment.
  • Future opportunities in MENA – why fintech, health tech, tourism, and entertainment are among the region’s most promising sectors for entrepreneurs.
  • Advice for young entrepreneurs – the importance of lifelong learning, stepping out of comfort zones, and innovating rather than just renovating.

A must-listen for investors, entrepreneurs, and anyone interested in business transformation in the Gulf region.

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Zaid Mosawy, an INSEAD 10D, joined us to discuss his experience as a key figure behind the delivery of the 2022 FIFA World Cup in Qatar.

We explore how his background in civil engineering, experience with the London Olympics, and INSEAD MBA positioned him to lead one of the most ambitious infrastructure projects in the region’s history.

Zaid shares lessons from a decade of planning and executing the World Cup—from cultural diplomacy and labor reforms to navigating geopolitical crises and creating lasting legacy programs.

We also look ahead to Saudi Arabia 2034 and discuss how mega-events can catalyze social, economic, and regional transformation.

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In this episode of the INSEAD Emerging Markets Podcast, Nick Lall speaks with Kaoru Kaganoi, INSEAD MBA '16J and founder of Peach Tech, East Africa’s leading used car marketplace. From growing up in Paris as the son of a Japanese professor of French philosophy to intense stints at McKinsey in Tokyo and Nairobi, Kaoru shares his global journey through social impact work in Bangladesh, Tuvalu, and Palestine, culminating in launching a high-growth startup in Kenya.

He opens up about:

  • How his early cross-cultural experiences shaped his worldview and career
  • Lessons learned from microfinance and the nonprofit sector
  • The challenges and rewards of switching from consulting to startups
  • Building Peach Tech as a vertically integrated solution to bring transparency, safety, and trust to Africa's used vehicle market
  • What it’s like to live and build in Nairobi
  • Why fairness is his core life principle—and how that guides every decision

With reflections on grit, culture-building, and creating systems from scratch in emerging markets, this is a must-listen for anyone interested in entrepreneurship, Africa, or mission-driven business.

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In this episode of the INSEAD Emerging Markets Podcast, host Nick Lall is joined by Altesh Baijoo, a dynamic entrepreneur at the intersection of finance, technology, and global markets. As Founder of Insaaph Capital and Director at Flow48, Altesh is helping reshape financial access across the developing world—unlocking investment opportunities through blockchain-enabled platforms and bridging SME funding gaps through tech-driven working capital solutions.

Altesh shares his journey from the corporate world to entrepreneurship, including his early intrapreneurial experiences in FMCG, his deep dive into fractionalized finance, and his growing conviction that emerging markets hold the key to future global growth. With 6,400+ users on Isaaph’s platform and $25 million raised at Flow48, Altesh unpacks how he and his teams are leveraging alternative data, API infrastructure, and a trust-based culture to drive innovation in South Africa, the UAE, and beyond.

This wide-ranging conversation explores tokenization, the democratization of wealth-building tools, the challenges of SME lending, and Altesh’s core values of trust, transparency, and technical leadership. Tune in for an eye-opening look at how emerging markets are not just catching up—but leading the way.

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In this episode, we were joined by Yana Yasevich, Partner & Head of Platform at Alter Global, an early-stage VC firm focused on emerging markets worldwide.

Since 2020, Alter has made more than 70 investments in entrepreneurs based out of São Paulo, Jakarta, Dhaka, Lagos, Buenos Aires, Manila, Mexico City, and more, supporting high-character founders building not just companies, but their communities and economies.

We discuss:

  • Yana’s entrepreneurial journey – how launching a sleep and wellness startup in San Francisco gave her first-hand experience in zero-to-one growth, fundraising, and operations, shaping her approach to VC.
  • The Alter Global investment thesis – why they focus on fintech, commerce enablement, and logistics in high-growth markets like Brazil, Indonesia, Egypt, and Nigeria.
  • Founder selection – how Alter identifies "inevitable entrepreneurs"—relentless, high-impact founders committed to scaling their ventures and supporting their local startup ecosystems.
  • The unique challenges of emerging markets – limited late-stage financing and exit opportunities, and how Alter helps startups connect with global investors and build towards long-term success.
  • How emerging markets are leapfrogging traditional industries – examples from insurance, logistics, and digital payments, where startups are bypassing legacy infrastructure and introducing mobile-first solutions.
  • How Alter is expanding into new markets like Saudi Arabia and Vietnam – and what makes a country an attractive investment destination.
  • Alter’s Fellowship Program – an innovative initiative matching top early-career professionals with Alter’s portfolio startups for six to twelve months on the ground, helping scale operations while exposing top talent to emerging market ecosystems.
  • Advice for entrepreneurs in emerging markets – why founders should be strategic about raising venture capital, seek strong local investor partnerships, and prioritize clear, compelling pitches.
  • The future of venture capital in emerging markets – why patient capital, deep market understanding, and founder-first investing will drive the next wave of global innovation.

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In this episode, we were joined by Darren Lapp, CEO of the New Forests Company, a sustainable forestry and timber products business operating in Uganda and Tanzania. Darren shares his journey from growing up in a forestry town in Canada to leading a major forestry enterprise in sub-Saharan Africa.

We discuss:

  • Darren’s career path – how he transitioned from biology and soil science to forestry, influenced by early work experiences and international exposure.
  • The challenges of forestry in Africa – balancing environmental sustainability, community engagement, and economic viability.
  • Sustainable practices – how the New Forests Company restores deforested areas, integrates local communities, and secures FSC certification.
  • Investment in forestry – why forestry requires long-term, impact-driven investors and how the industry is evolving in Africa.
  • Local value addition – efforts to reduce reliance on raw material exports by producing finished timber products within East Africa.
  • Leadership insights – Darren’s collaborative leadership style, developed through multinational experience and INSEAD’s International Directors Program.
  • Future vision – scaling New Forest Company's impact by expanding industrial capacity and market development, with a goal of long-term economic sustainability.

After this podcast was recorded, Darren let me know they had closed a transaction with Shell Nature Based Solutions in forming a new impact forestry joint venture. You can learn more on the New Forests Company’s LinkedIn profile - https://www.linkedin.com/company/the-new-forests-company

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Pedja is an INSEAD 14J and GP at Fifth Quarter Ventures, the first VC firm solely focused on Southeastern Europe. Pedja was on the Serbian National Water Polo team, and post-INSEAD scaled Gelato (a print-on-demand startup) into a unicorn my leading its expansion into emerging markets like India, China, and Russia.

In this episode we discuss the types of founders Pedja likes to invest in, traits he looks for in investors and partners, how to build brands in emerging markets as a foreigner and much more.

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Nubank (NYSE: NU) is Latin America's largest fintech company and the world's largest neobank with over 100 million users and a valuation of over $70 billion.

Livia is an INSEAD 09D and prior to Nubank directed tech and business analytics at Itau Unibanco (Latin America's largest bank) and was a Partner at McKinsey.

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Kevin Carter, founder and chief investment officer of EMQQ Global, joined us to disucss his journey in the investment world, initiated by his transformative reading of "A Random Walk Down Wall Street," which led to him working alongside economist Burton Malkiel of Princeton University in creating multiple stock market innovations like fractional investing and personal indexing, and his ultimate focus on China and other emerging markets.

Carter shares insights on the digital consumer revolution in these markets and his thoughts on India's potential today compared with that of China's 20 years ago.

Note: this episode was recorded before India's 2024 election.

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In this episode of the INSEAD Emerging Markets Podcast, we speak with Asha Mehta, Managing Partner at Global Delta Capital, about her impactful career in finance, focusing on emerging and frontier markets through a lens of sustainability and responsible investing.

Asha founded Global Delta Capital after working as an investment banker at Goldman Sachs and Lead Portfolio Manager and Director of Responsible Investing at Acadian Asset Management. Asha has been recognized as a "brilliant quant" by Forbes Magazine and ranked as one of the top 10 women in asset management by Money Management Executive.
Asha received her BA in Biological Sciences and Anthropology from Stanford and her MBA from Wharton, during which she made use of the INSEAD-Wharton Exchange.

Our discussion covers the societal impact of investing in emerging markets, the role of data science in global market analysis, and the value of on-the-ground experiences in diverse cultures plays in evaluating countries and businesses to invest in.

Asha's book, The Power of Capital, is a thrilling memoir of her personal journeys through emerging markets which delivers equal doses of business discussion and geopolitical insight.

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Andrew Henderson is the Founder and CEO of Nomad Capitalist, the world's leading offshore consulting firm dedicated to helping clients make informed decisions on the best countries to invest, start a business and live in.

Andrew has helped over 2,000 UHNW individuals go offshore and his YouTube channel has over 750,000 subscribers.

Nomad Capitalist Live, Nomad Capitalist's annual event, will be held in Kuala Lumpur this September 25th through 28th.

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In this episode, Jorge Gonzalez Henrichsen joins us to share his unique path from investment banking and an MBA at NYU Stern to acquiring and then running company at the forefront of the nearshoring movement. He dives deep into both the geopolitical and macroeconomic ramifications of nearshoring and the nitty gritty of what it takes to search for, buy, and then run a cross-border business.

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In this episode of the INSEAD Emerging Markets Podcast, we were joined by Emily Chang, a powerhouse in the world of international marketing and business strategy.

Currently CEO of VML West (and CEO of McCann Worldgroup in China at the time of recording), Emily's storied career spans influential roles at global giants like Starbucks, Apple, and Procter & Gamble, culminating in her profound impact on brand building and customer experience across continents.

Beyond her corporate achievements, Emily shares her personal journey of caring for orphaned children, echoing the themes of her bestselling book, "The Spare Room."

This episode delves into Emily's unique ability to blend business acumen with heartfelt philanthropy, offering listeners an unparalleled insight into the mind of a leader who thrives in the face of change and champions the power of cultural understanding.

Join us for a deep dive into the life of a woman who reshapes markets and lives, proving that the path to success is as diverse as it is inspirational.

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Nicolas Rohatyn serves as Chief Executive Officer of The Rohatyn Group. TRG is a team of 190+ emerging market specialists in 18 countries dedicated to pursuing investment opportunities in these economies by focusing on areas of structural inefficiency and special opportunity.

The firm has over $8 billion in assets under management and splits its investments between public markets, private markets and forestry and agriculture.

Prior to founding TRG in 2002, Mr. Rohatyn spent 19-years at J.P. Morgan, including 5 years as a member of J.P. Morgan’s executive management team, holding a variety of leadership positions in emerging markets, foreign exchange, commodities, credit markets and e-commerce functions. As Managing Director and Head of Emerging Markets Sales, Trading and Research, Mr. Rohatyn established offices in Mexico, South Africa, Turkey, Russia, Korea, and India, as part of the growth of J.P. Morgan’s efforts in those markets. Mr. Rohatyn built and restructured the emerging markets sales, trading and research area from a loan-based business to an integrated and diversified sales, trading and capital markets effort while producing significant net income and winning numerous awards and industry-wide recognition. During Mr. Rohatyn’s tenure, J.P. Morgan established its widely acknowledged leadership position in emerging markets securities distribution, trading, and research.

Mr. Rohatyn is a founder and the former chairman of the Emerging Markets Traders Association (EMTA), a body that today is recognized by many professionals as the authority on market standards, practices and volumes. He currently serves on the boards of The Asia Society and the Global Private Capital Association (GPCA), where he also served as chairman, and the French Institute/Alliance Française. He is a Trustee of the Citizens Budget Commission and serves on the Investment Committee of the Foundation for Contemporary Arts. He formerly served on the Boards of The Alvin Ailey American Dance Theatre, Robert College of Istanbul, MarketAxess, the Local Initiatives Support Corporation (LISC), the RiskMetrics Group, Archipelago, and the Lewis T. Preston Foundation for Girls.

A native New Yorker, Mr. Rohatyn holds a Bachelor of Arts in Economics from Brown University.

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In this episode, we spoke with Yeshi Phuntso, CEO of Àni Private Resorts about how his strategic focus on community engagement and employee empowerment has created a thriving brand.

Àni is the world’s first private resort collection offering exclusive retreats in the most beautiful and far-flung corners of the earth, ÀNI Private Resorts draws its name from the Swahili word 'andjani', which aptly means the ‘journey ahead’. This refers not only to the time shared by ÀNI guests at each resort as part of life’s journey, but also to the future offered to students of the non-profit ÀNI Art Academies organization. Inspired by the idea that an arts education could bring opportunities to those without in beautiful, developing nations worldwide, the ÀNI story began in 2010, when both organizations were founded by philanthropist and arts patron, Tim Reynolds.

ÀNI’s destinations currently include Thailand’s Koh Yao Noi Island, Sri Lanka’s south coast, a private peninsula on the Dominican Republic’s north coast, and the northern cliffs of Anguilla Island, with each resort claiming a spectacular natural setting close to its local ÀNI Art Academy. Exclusively designed for a single group of guests, each accommodates up to 20 or 30 individuals across just 10 to 15 suites. All operate on an all-inclusive basis except ÀNI Anguilla, which is available for half-board stays. The resorts offer every space and service a group of guests could possibly desire, and a full complement of staff (between 20 and 30 per resort) tailors every detail – from dining and spa treatments to children’s activities and cultural interactions

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Jamil Wyne is an INSEAD 18J and advisor, investor, professor and author focusing on climate, entrepreneurship, technology and economic development around the world, including a strong concentration on climate change. Worked with World Bank, IFC, UN, Clean Energy Venture Group, Catalyst Investment Management, Schmidt Futures, Wamda, and Ashoka. INSEAD MBA, Johns Hopkins SAIS MA. Writing/research has been published/cited in SSIR, TechCrunch, World Bank, UN, Wharton, McKinsey, and Brookings publications. Based in Washington, DC.

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Onno Pfeiffer is an INSEAD GEMBA 19 and is the co-founder of Diolko.

Diolko's sustainable last mile delivery solution leverages underutilized city infrastructure to improve quality of life for everyone by reducing both greenhouse gas emissions and traffic congestion.

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Taimur Malik, Co-Founder and Ideator of Drawdown Farm  joined us to speak about regenerative agriculture's role in addressing the world's polycrises and the amazing results he's had so far on his farm in the Thar Desert of Pakistan.

Prior to founding Drawdown Farm, Taimur was an Analyst at Citibank, Chief Executive at Moiz Textiles, and co-founded TM Black, a fair trade men's custom shirting company, in which he negotiated deals with the best textile mills in the world for fabric selections, including Canclini in Italy, and ultimately sold the business to a global custom men's clothier at an undisclosed profit.

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Brendan Rogers is the Co-Founder of 2am VC, an early-stage India Fund. Previously, Brendan co-founded Wag! (NASDAQ) PET, the largest pet platform in the US.

Before Wag!, Brendan co-founded a social discovery service to meet new people, which grew to over 50 million users in over 10 countries, and was acquired by IAC in 2014.

In this podcast, Brendan joined Nick Lall to discuss the burgeoning startup environment in India, best practices for building a personal brand, and his personal journey in launching 2am VC.

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AbbeyCross is a business-to-business FX trading and compliance marketplace for emerging market (EM) currencies. Available to banks and payment providers, it brings deeper EM currency liquidity, previously unavailable price transparency and market data to a fragmented EM payment industry. 

With AbbeyCross, banking participants are able to secure and strengthen their EM payments offerings through one simple integration with multiple liquidity and settlement providers, while these same providers have easier access to new EM payment flows.

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Javier Cunat is a TIEMBA 2014 and COO/Director of Diligo, which offers advisory and CFO services for startups in Spain and Mexico. In this episode we explore his 14 years in China and subsequent move to found a startup in Mexico.

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Georg Chmiel is an INSEAD 96D and the Co-Founder / Chair of Juwai-IQI Holdings, the largest proptech group in South East Asia with more than 30,000 sales agents. He is also responsible for creating 3 unicorns. His previous experience includes Executive Chairman of iCarAsia (ASX:ICQ), the number 1 online automotive marketplace for SE Asia. He was also Managing Director / CEO of the iProperty Group (ASX:IPP) until its sale to REA Group in the biggest online takeover in SE Asia at that point in time. He has also served as the CEO and managing director of international real estate agency and finance network, LJ Hooker; and as the CFO and general manager (International) at the REA Group.

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Emilie Abrams is an INSEAD 21J and Principal at The Yield Lab Mexico.

The Yield Lab is a VC fund formed in 2014 to address a lack of capital and support for early stage agriculture technology companies. It invests in seed stage to growth stage agtech companies, providing international business connections and the resources of the entire Yield Lab international network across Asia, Europe, and North and South America.

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Easy Crypto is New Zealand's largest cryptocurrency retailer transacting over $1b in sales, and has now expanded to Australia and South Africa as well.

Lloyd Brown is Head of Emerging Markets at Easy Crypto and has decades of business experience on the African continent.

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In this episode, Lisa Genasci and Marc Schmidt joined Vincent Tordo to speak about sustainable business opportunities in Southeast Asia

Lisa is a Managing Director - Sustainable Finance with ADM Capital where she leads the firm’s ESG Committee and sits on the Investment Advisory Committee.

Marc is a Managing Director and Partner at BCG and is the Southeast Asia Lead for Social Impact, Environment and Climate.

To explore more on the topic:

Toxic Legacy: How the Weedkiller Glyphosate Is Destroying Our Health and the Environment by Stefanie Seneff published in July 2021

It’s Time for Institutional Investors to Embrace the S in ESG by BCG published in February 2022

The Untapped Climate Opportunity in Alternative Proteins by BCG published in July 2022

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Antoine Delaporte is an INSEAD alumnus who after working as a Manager at Bain in London and Paris launched 3 clothing businesses in Madagascar, which  he grew to 2500 employees. He then sold the these businesses and entered the world of PE, starting Adenia Partners 20 years ago. He has raised 5 funds for Adenia, the latest being a 500m fund. 

In this episode he talks about the scale of impact one can have in Africa in changing the world vs other locations, and the VC-like returns you can achieve by investing in traditional businesses on the continent. 

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White Star Capital is a global multi-stage venture capital investment firm with offices in New York, London, Montreal, Paris, Tokyo, Hong Kong, and Singapore. They focus on Series A and beyond, helping their portfolio scale internationally. Investments of theirs include Flash Coffee, Dollar Shave Club, Sleek, Freshly, and Pop Meals. 

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Matthieu is an INSEAD 19D who has launched 4 businesses in Bali since graduating. We talked about his business plans, fundraising successes and commitments to sustainability and inclusive development. 

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Sejal Mistry, Regional Director of Southeast Asia at ACCESS Health International , and Chris L. Hardesty, Partner at Pureland Venture and Director of the Health and Life Sciences practice at KPMG joined us for a conversation on what healthcare in emerging markets will look like following the CoVID-19 pandemic.

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Ambit Partners is a search fund investor that enabling entrepreneurship through acquisition across traditional and developing markets, including Africa, South America and Asia.

In this episode, Ambit co-founder and Partner, Andrew Locke, discusses the impact and business potential for search funds in emerging markets and what he looks for in entrepreneurs that he invests in.

On September 30, 2021, Ambit announced the US$16m first close of its inaugural fund, Ambit Partners Fund I LP (“Fund I”), a global fund of search funds.

With offices in Canada and South Africa, Ambit Partners’ mission is to enable Search Funds globally, investing in exceptional entrepreneurs to find, buy and build enduring businesses around the world.

This initial close builds off of the early Search Fund investment activity of co-founders Rob LeBlanc, Niel Wyma and Andrew Locke, who, in 2020, combined existing personally-acquired Search Fund assets with $2m of friends & family capital to construct a pilot portfolio of 24 Searchers across 16 countries, kickstarting what evolved into Fund I’s strategy.

Domiciled in Canada, Fund I will invest in ~60 Search Funds (including the initial 24 noted above, one of which already concluded an acquisition), with the aim of building a globally diversified portfolio of ~30 Searcher-acquired and operated businesses across North America, Europe, Latin America, Asia and Africa, emphasizing opportunities with Searchers entering new or emerging Search Fund marke

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Vikram Bharati is the founder of the Draper Startup House, which is on a mission to invest in ONE MILLION entrepreneurs by the end of 2030.

Draper Startup Houses are business innovation hubs with a backpacking environment and access to venture capital for global entrepreneurs. Their current locations include Singapore, Bangalore, Estonia, Yangon, Manila, Lisbon, Chiang Mai, Bali and Austin, Texas

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Christian Patouraux, the CEO and founder of Kacific, a satellite internet startup that has raised $300M+ and serves some of the most remote markets in emerging APAC such as Bhutan, Papua New Guinea and Tuvalu, joined us for our first episode.