November 8: Global Equity Fund has set up a fund of Rs 500 million to support enterprises run by women entrepreneurs. The fund was set up with the aim of increasing the businesses run by women entrepreneurs by providing access to financial services. The Global Equity Fund started this fund with the technical support of Trade and Competitiveness of USAID.

The programme has been initiated after signing a letter of intent with three companies on Tuesday. The fund claims that this is the first of its kind in Nepal with a focus on women entrepreneurs.

The fund Managing Director Dr Manish Thapa said that the fund will support women entrepreneurs with financial assistance of a minimum of Rs 50 million to a maximum of Rs 500 million . According to him, investments will be made in the enterprise according to the needs and demands of the business.

“We have started looking at companies of women entrepreneurs. In the first phase, we will invest in 10 to 15 micro, small and medium enterprises (MSMEs),” said Thapa.

The fund has set certain criteria for investing money. As per the criteria, the enterprise seeking financial assistance must have 51 percent ownership of women. Also, the enterprise should have 30 percent women in leadership roles and 30 percent as board members.  

The fund informed that companies that meet these criteria are entitled to receive investment from the fund.

Speaking at the programme, Deputy Chief of Mission of the American Embassy, Jason Mix said that it will help to solve the systemic problem of access to finance that women are facing in entrepreneurship.

According to him, mobilization of this fund will promote entrepreneurship and economic growth in Nepal. He also mentioned that women entrepreneurs face a lot of problems in starting and operating a business. It is also mentioned that the fund will increase the access of women entrepreneurs to capital, build their capacity and promote the relationship with the domestic and global markets.

Siddhanta Raj Pandey, president of Nepal Private Equity Association, said that the cooperation between the two organizations is admirable. He says that such funds will greatly help enterprises led by women entrepreneurs.