Established in 2014, True North Associates (TNA) is a private equity and venture capital firm focused on companies with innovative business models that create new markets, introduce process improvements, and demonstrate high growth potential. TNA’s investment pipeline includes early- to growth-stage firms seeking capital and strategic management support. The company also offers consulting, fundraising, transaction advisory, and sell-side investment banking services. 

They primarily work in Province 3, though investments extend to businesses in other provinces. They have around 11 employees. Find more about TNA here: [Website](https://www.tna.com.np/)  

Pathway to IPO for Medium-Sized Agribusinesses in the Agriculture Sector  

Nepal’s agribusiness sector, a significant GDP contributor, faces challenges like market fragmentation, low productivity, quality issues, and limited access to finance, often relying on debt, grants, or concessional finance. Medium-sized agribusinesses connected to thousands of smallholders are hindered in scaling due to limited capital, management capacity, and reliance on collateral-based debt. Investors often view agriculture as high-risk, with concerns about technical expertise, corporate governance, and informality. Systemic partnerships between agribusinesses and investors, especially those sourcing from smallholder farmers, can address these gaps. Such partnerships can enhance internal capacities, attract investment, and ultimately enable these businesses to explore options like Initial Public Offerings (IPOs) for expanded capital access.

Through its partnership with True North Associates, CASA aims to prepare three medium-sized agribusinesses—Paicho, NDs, and GJ Poultry—for IPO readiness while integrating a green growth agenda. This project, running from October 2023 to March 2025, will support these firms in exploring diverse financing options beyond traditional bank loans, such as blended finance, green finance, venture debt, concessional finance, bridge funding, and PE/VC investment, fostering expertise in wealth creation and economic impact. True North is seeking approximately GBP 2 million in debt, equity, and IPO growth funding, with GBP 451,613 already secured.