The Dolma Foundation was established by Tim Gocher in Nepal in 2003 as a non-profit organisation focused on alleviating poverty by investing in education, health and sustainable businesses. Dolma Foundation also runs an eco-tourism initiative to foster a sustainable environment for the local communities. The proceeds from this go to Dolma’s child education programme.
Dolma Fund Management was established in September 2014 and launched Dolma Impact Fund I (Dolma I) at the same time. As an impact fund, Dolma I invested in companies that contribute to Nepal’s Sustainable Development Goals across TMT, healthcare and renewable energy sectors and through quality, gender-balanced employment. Further, Dolma Fund Management instils international standards and processes for ESG throughout its portfolio companies operations.
Investors in DIF I included European development finance institutions FMO, DGGF, Finnfund and OeEB plus private investors for total commitments of USD 36.6 million.
In 2019 Dolma Fund Management commenced fundraising for successor fund Dolma II, holding a second closing at USD 50.5 million in December 2021. Investors so far include CDC, DFC, FMO, IFC and Swedfund.
Dolma’s team of 14 investment professionals have been working together for up to eight years. In 2021, Dolma qualified for the 2X Challenge by exceeding the thresholds for female employment and management representation.