Liesbet Peeters is a founding partner at D. Capital. She advises foundations, development institutions, and private investors on impact investments in emerging markets. Liesbet has extensive experience in analysis and due diligence of impact investments and direct SME investments and has been involved in multiple direct SME and microfinance investments in Latin America and Africa. In addition, she has led fund valuation and term sheet negotiations on numerous private equity and venture finance transactions in both emerging markets and Western Europe.
Prior to joining Dalberg, Liesbet founded an investment advisory firm, Lapiluz Advisory Services, based in Belgium and London. She was previously the CFO/Investor Relations Manager with Capricorn Venture Partners in Belgium focused on European technology investments, an Investment Officer with the Grassroots Business Fund at the International Finance Corporation (IFC), and an Associate with Greenpark Capital, a London-based fund-of-funds. Her prior experience also includes positions with SG Cowen Securities in London, EASDAQ (EU technology stock market), and Incofin CVSO, a leading microfinance fund manager.
Liesbet has an MBA from MIT and a Master's degree in Commercial Engineering from Katholieke Universiteit Leuven, Belgium. She speaks English, French, and Dutch and is conversant in Spanish.
Lily Han, CFA, is an Investment Principal at D. Capital Partners, a Dalberg Group company, where she focuses on designing innovative financing mechanisms to address development challenges. Most recently, Lily has been working with the Government of Mozambique as part of a public-private coalition to develop and launch the first Social Impact Bond for health in Africa: the Mozambique Malaria Performance Bond.
Previously, Lily was part of the CIO's team on the TARP program in the US Department of Treasury, focused on designing public-private financing structures to catalyze small business growth and economic development in the US. She started her career with Lehman Brothers in roles focused on asset management advisory and strategic relationship management.
Lily holds a Master's degree in International Relations from the Johns Hopkins School of Advanced International Studies (SAIS), and graduated summa cum laude from Yale University with her Bachelor's degree. She is a Chartered Financial Analyst and a member of the Chartered Financial Analyst Society of Washington, DC.
Barbara Kong is an Investment Principal based in London and her work focuses on advising impact investors and executing their fund and direct investment transactions. Barbara works on long-term mandates with European family offices on their impact investment portfolios. She has extensive experience sourcing, conducting due diligence and structuring investment opportunities in the agribusiness, energy and waste management sectors in Sub-Saharan Africa. Most recently, Barbara has been involved in developing an innovative insurance mechanism aimed at underwriting social impact projects in developing countries.
Prior to joining D. Capital, Barbara was a management consultant in Paris. Barbara worked on numerous engagements across the consumer goods, insurance and energy utilities sectors. Her work ranged from corporate strategy to operations improvement and strategic due diligence. Barbara also worked for Veolia Water in China as a project analyst, conducting technical feasibility studies for water treatment plant projects in North China.
Barbara holds a MBA from MIT Sloan and a Master's degree in Industrial Engineering from Ecole Nationale des Ponts et Chaussees, Paris. She is fluent in French and English.
Retief Swart is an investment associate and leads D. Capital's pipeline development efforts. He also advises D. Capital's clients on their Africa-focused investments into private companies, and works predominately in the agriculture, clean energy, and waste management sectors. He recently led D. Capital's work on investing in a biogas electricity plant and alternative animal feed company that uses organic waste to create protein through a process of nutrient recycling.
Prior to joining D. Capital, Retief worked for Dalberg Global Development Advisors in Johannesburg where his work focused on agriculture and access to finance. His work included market penetration strategies for private sector financial institutions, electronics, and agriculture companies, as well as developing strategies to more actively address the financing needs of African entrepreneurs for various Development Finance Institutions.
Retief holds an Honours degree in International Studies, and a Bachelor of Arts in Value and Policy Studies from the University of Stellenbosch. He speaks English and Afrikaans.
Grace Yue Zhou is an Investment Associate at D. Capital, where she conducts investment due diligence, performs financial analysis and structures innovative financing solutions. Grace has worked on M&A valuation and advisory to a mid-cap manufacturer, aquaculture early stage investment evaluation, and rural community health worker compensation financing.
Prior to joining D. Capital, Grace worked at the Investment Management Division of Goldman Sachs in Hong Kong as a financial investment professional. In that capacity she conducted market research across asset classes in various industries, developed customized investment portfolios, and generated and communicated investment ideas with private clients. She was also a founding team member of Goldman Sachs' onshore Private Wealth Management business in Beijing.
Grace holds a MBA from MIT Sloan School of Management, and a Bachelor's degree in finance and economics from Hong Kong University of Science and Technology. Growing up in Beijing, China, Grace speaks fluent Mandarin Chinese and Cantonese. Grace serves as the Director of SEED Lab for Harvard China SEED on Citizenship and Social Innovation, a non-profit program based that organizes annual training camps to selected socially-minded Chinese young leaders and incubates social impact projects.
Ted Macharia is a Financial Analyst in the Nairobi office. He conducts in-depth analysis of potential investment opportunities for D. Capital clients and assists in deal structuring and negotiations.
Prior to joining D. Capital, Ted was an investment analyst at AIB Capital. In his role, he conducted fundamental research on both public and private companies. Ted advised clients on a broad range of investment classes. He conducted fundamental research on the equities market with a focus on the financial services sector, and tailored investment strategies for private wealth clients. He also analyzed macro-economic trends and advised institutional clients and private wealth clients on their bond portfolios. His experience in corporate finance advisory exposed him to deal structuring for private companies, including a real estate company in East Africa. He also was part of an advisory team for a leading electronics distributor in Kenya that was planning to restructure its debt and source growth capital from a new investor. Ted has been a regular commentator for CNBC Africa on East African markets.
Ted holds a Bachelor's degree in actuarial science from the University of Nairobi. He speaks English and Kiswahili.
Tatenda Nyamuda is a Financial Analyst at D. Capital. She has worked with global banks, micro lenders, and insurance companies. Prior to joining Dalberg, Tatenda was a manager in Deloitte & Touche's Financial Institutions Services Team practice. At Deloitte, Tatenda focused on South African tier one banks, providing them with credit risk advisory services, including analysis of advanced credit risk modeling and regulatory reporting as required by the South African Reserve Bank and Basel regulations.
Tatenda is a registered Chartered Accountant with the South African Institute of Chartered Accountants. She holds a Bachelor of Business Science degree with second class honors, with a concentration on Accounting and Finance and a Postgraduate Diploma in Accounting from the University of Cape Town. Tatenda is currently completing the research component of her Master of Commerce degree, with a concentration in Finance, through the University of the Witwatersrand. She is fluent in English with a working knowledge of Afrikaans and Shona.
Caroline Bressan is an Investment Principal based in the Washington DC office. Prior to D. Capital, she was an Investment Officer at Calvert Foundation where she managed its $25 million portfolio mainly focused on Latin America.
At Calvert Foundation, she originated and managed a pipeline of lending and investment deals focused on the sustainable trade, social enterprise, and microfinance sectors. In addition, Caroline designed and launched a revolving line of credit product, the first of its kind for Calvert Foundation and helped launch the international component of the Women Investing in Women Initiative (WIN-WIN). She also sat on the investment committee of the Haitian Emergency Liquidity Fund, created to provide funding to microfinance institutions in the aftermath of the 2009 earthquake. Caroline has previously worked in Bolivia with Pro Mujer designing a business education program for clients.
Caroline received her MBA from Dartmouth's Tuck School of Business and holds a Bachelors in Business Administration and Latin American Studies from the University of Michigan. She speaks English and Spanish.
Abdourahmane Diop is a Senior Investment Associate and focuses on designing innovative finance solutions for the development sector. Currently, Abdourahmane is part of the HUGinsure team which has designed the first-of-its-kind social impact insurance product. Prior to join D. Capital, Abdourahmane worked as Senior Consultant in Dalberg's Dakar office where he advised clients in various sector including access to finance, SME development, Education, Energy, Strategy and performance.
Prior to Dalberg, Abdourahmane has worked as a financial auditor where he conducted various engagements with private and public companies. Abdourahmane has a good knowledge of the development sector and has conducted works in a dozen of countries in Africa, the Middle East and Europe.
Abdourahmane holds a master degree in Finance, Commerce and Administration, and a Bachelor in Business Management. He is a native French speaker and have good command of spoken, read and written English.
George Waithaka is a Senior Financial Analyst in the Nairobi office. He conducts in-depth analysis of potential investment opportunities for D. Capital clients and assists in deal structuring and negotiations.
Prior to joining D. Capital, he worked for four years in a Kenyan bank which mainly serves the BoP segment called Equity Bank as a Business Performance Assistant Manager where he was responsible for the financial and macro-economic analyses of the region the bank operates including industry peer review to advise management on the prevailing business environment and enhance decision making. George brings in wealth of experience in financial modeling and analytics having worked in building the profitability and pricing models and loyalty points management for the American Express Credit Cards. He was also involved in creating board and investor briefing presentations quarterly of the bank's financial performance. George also took part in financial planning and budgeting for the entire bank annually, performed cost-variance analyses monthly and ensured the cost-income ratio is within the set targets.
George pursued a Bachelor of Science degree in applied mathematics and finance minor at MIT in Boston, MA and is currently pursuing the CFA charter and just did the CFA Level 2 exam in June 2014. He speaks English and Swahili fluently and has a working knowledge of German.
Olivia Iloetonma is a Financial Analyst in D. Capital's Washington, D.C. office. She advises Dalberg's clients, leading foundations, NGOs, corporations and multilateral organizations in areas of financial strategy and operational innovation. Her experience ranges from NGOs management and private sector business strategy and operations to impact investment structuring.
Olivia's most recent engagement at D. Capital include the design of a Development Impact Bonds suitability matrix for a leading global health services provider, around the entire suit of services within the company's portfolio. She also worked on a value chain analysis of the clean energy space in Asia and Africa for a wealth fund looking to deploy up to $20 million in direct investments.
Prior to joining D. Capital, Olivia was an Investment Analyst at Omidyar Network Inc., an impact investment firm in the Silicon Valley with a broad range of investees working to improve Access to Finance as well as Government Transparency and Education in developing countries. Some of her work at Omidyar Network Inc. were on deal structuring and due diligence for TeachForIndia, the African Leadership Academy, Pagatech, and Politifact. Previous professional experiences include operations strategy analysis and design for Imagine Learning Inc., an international literacy software company and Executive responsibilities as the CEO of Ten50, a social impact beauty services provider in South Africa.
Olivia graduated Phi Beta Kappa and holds a B.A. with honors from Vassar College in International Relations and Latin American/Latino Studies. She speaks Igbo and English fluently and is proficient in Spanish.
Kelsey Finkelstein is the Chief of Staff to D. Capital's Managing Partner and joined D. Capital after working for Dalberg Research, another Dalberg company. At D. Capital, Kelsey supports the Managing Partner in identifying and managing new business opportunities and manages their workload to ensure that it aligns with the firm's priorities.
Prior to joining Dalberg, she worked at the Albright Stonebridge Group in Washington, DC, a global strategy firm, where she was responsible for growing the newly-created energy and environment practice group. Kelsey also worked for Frontier Strategy Group, an international advisory firm, where she coordinated the firm's office expansion into London and Singapore and helped manage a diverse portfolio of US-based multinational companies to provide strategic and tactical guidance for sustainable business growth in Asia, the Middle East, and Africa. Prior to graduate school, she worked for former Senators Joe Biden and Edward Kennedy and at the Saban Center for Middle East Policy at the Brookings Institution. During the 2008 Presidential Campaign, Kelsey supported Secretary Richard Danzig, senior advisor to former Senator Obama.
Kelsey holds an M.A. from the Fletcher School of Law and Diplomacy at Tufts University with a concentration in International Business Relations and Natural Resource Management and a B.A. from UC Santa Barbara in Political Science and History.