TEAM Ventures Concludes Successful Partial Exit from Foodmandu with 2x Returns

TEAM Ventures has successfully concluded a partial exit from Foodmandu through the sale of equity to Himalayan Capital Limited.

Manohar Adhikari, MD of Foodmandu, Parmeshwar Pant, CEO of Himalayan Capital, and Tenzin Sonam Gonsar, CEO of TEAM Ventures, signed a share purchase agreement at the TEAM Ventures office in Kathmandu on July 30, 2023.

TEAM Ventures is an industry-agnostic alternative investment firm with a diverse portfolio spanning the energy, technology, real estate, manufacturing, startups, agro-infrastructure, and electric vehicle sectors.

TEAM Ventures’ partial exit from Foodmandu resulted in 2x returns for the firm in a short time span of two years. The firm’s strategic investment has facilitated Foodmandu’s exponential expansion of its customer and restaurant base, as well as its geographic expansion.

Foodmandu, established in 2010, stands as Nepal’s largest food delivery company and is an industry leader in customers and restaurant partners. The company received Series A funding through True North Associates in 2016 and Series B funding from TEAM Ventures in 2020. In 2023, Dolma Impact Fund II further invested four million dollars in Series C funding.

Himalayan Capital Limited, a wholly-owned subsidiary of Himalayan Bank Limited and one of Nepal’s leading merchant banks, is committed to fostering reliable and sustainable growth for its customers. They offer services across individual and institutional dimensions, assisting in management, capital structuring, wealth management, and a range of advisory services.

(Press Release)