October 3: The Securities Exchange Board of Nepal (SEBON) and the Nepal Private Equity Association (NPEA), a non-profit association of private equity, venture capital, and alternative investors, officially entered into a Memorandum of Understanding (MOU) to foster collaboration and promote the growth of the private and alternative investment industry in Nepal.

Issuing a statement on Monday, NEPA said its Chairman Siddhant Raj Pandey and the Executive Chairman of SEBON, Ramesh Kumar Hamal, signed the MOU on behalf of their respective organizations.

The statement further says that the MOU was signed after the second annual general meeting of NPEA held at Thamel-based Aloft Kathmandu on October 2.

The statement further said that the MoU solidifies the commitment of both parties to advance innovation, entrepreneurship, and job creation in Nepal by facilitating greater access to finance for businesses in the region.

As per the agreement, SEBON will provide regulatory support, while both will work towards industry advocacy and promotion of alternative/specialized investment industry including training and information sharing.

NPEA is an umbrella organization that represents all alternative investment players in the domestic market of Nepal.