Manoj Paudel is Executive Chairman and Founder of Aadhyanta Fund Management. It is Nepal's pioneering private equity and venture capital (PEVC) platform that has mobilized over USD 22 million to invest in clean energy, agri-tech, women-led businesses, and digital ventures. As Co-Founder and Director of Nepal Development Public Ltd., he is channeling diaspora and domestic capital into strategic infrastructure, having raised USD 7 million toward a USD 70 million goal. Through his role as Chair of the Investment and International Affairs Forum at the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), he shapes national investment policy and leads Nepal's global investment outreach. A Chevening Scholar and LSE-trained economist, Paudel also chairs Kathmandu Technical School, preparing youth for global opportunities. His work focuses on building financial infrastructure and democratizing access to capital in emerging economies like Nepal. Nepalkhabar talked to Mr Poudel. Excerpts:
You’ve been described as someone who works at the intersection of policy, investment, and innovation. What drives your work—and how do you see your role in shaping Nepal’s future?
I think my first exposure to this intersection came from my family itself. They were deeply committed to both education and public service. Even now, this is what shapes my worldview—education and innovation are powerful ladders of opportunity where outliers are created.
Knowing that education was a means to create change and break through barriers, my journey naturally led me to policy and innovation. These are fields where people get the tools to shape their own futures, where aspirations can turn into action.
Over time, I’ve come to believe that if we want systems to change, we have to be willing to work across them. That’s what I try to do—connect public policy with private sector momentum, and have innovation at the heart of it. Right now, a big part of my work is focused on democratizing access to capital and opportunity, especially for young people in Nepal.
I see my role as a kind of translator—between sectors, between generations. When those worlds start speaking the same language, real progress becomes possible.
You’ve worked with government bodies, advised policymakers, and mentored startups. What principles or ethical standards have guided you across such diverse roles?
Always knowing the purpose of the conversation—and reminding myself that there’s a bigger picture—is something I try to hold onto. It’s easy to get caught up in the immediate problem or the pressure of a specific role, but zooming out helps me stay grounded.
I’ve also learned that across sectors, people carry very different realities. So I try to show up with empathy and patience, whether I’m in a government room or sitting with a founder still figuring things out. In most cases, it’s not about having the smartest idea—it’s about understanding the constraints, listening properly, and working towards something useful and long-term.
Consistency helps too. Staying true to a set of values, even when the environment shifts, keeps things real. And honestly, just being a decent, collaborative person goes a long way in building trust—especially when you’re trying to bridge different worlds.
From investment funds to vocational training institutions, you’ve co-founded multiple ventures. What’s the larger vision connecting these diverse institutions?
At the heart of these efforts is a shared commitment to expanding access—whether to education, capital, or meaningful employment. Too often, background determines opportunity. These ventures aim to challenge that pattern by creating pathways for individuals to pursue purposeful careers and build successful enterprises. The broader vision is to foster social mobility, cultivate value-driven institutions, and build an ecosystem where Nepali talent can flourish.
Your vocational training institution is becoming a national model. How do you envision bridging education, migration, and labor market needs?
We all know that a big part of Nepal’s story today is young people leaving the country—not always because they want to, but because they don’t see real options here. Migration has almost become the default path. What we’re trying to do through Kathmandu Technical School is shift that pattern—first by making sure people actually have skills that the job market wants, whether it’s in Nepal or abroad. That means focusing on practical, high-demand training—skills that lead to decent jobs. But it also means staying flexible, constantly updating what we teach based on what’s working and what the market is asking for.
You’ve emphasized making capital more accessible. What gaps exist in Nepal’s financial ecosystem, and how are your initiatives addressing them?
One of the biggest issues in Nepal’s financial system is that it’s still heavily focused on collateral. If you don’t have land or assets to put up, it’s hard to get funding—no matter how strong your idea is. That really holds back innovation, especially for younger entrepreneurs or first-time founders who come from less privileged backgrounds.
There’s also a real gap when it comes to early-stage and growth capital. The money might be there, but it’s not flowing in a way that supports bold ideas or growing businesses. And honestly, there’s still a bit of a disconnect between what investors expect and what emerging businesses actually need.
Our mission is to close that gap. With platforms like Nepal Development Public Limited, we’re trying to show that it’s possible to pool capital in a way that’s more strategic and more inclusive. It’s the country’s first private-sector-led Fund of Funds, and the aim is to channel investment into SMEs, infrastructure, and areas that can really move the needle.
At the same time, we're opening doors for more people to participate. Investment shouldn’t just be for a few big players—it should be something that more people can access and benefit from. If we can shift from risk-avoidant to impact-focused culture, we’ll see a much more dynamic and inclusive investment landscape.
You’re deeply engaged in alternative finance, private equity, and climate finance. What promise do these hold for Nepal?
These areas hold a lot of potential for Nepal—but we’re only just starting to tap into them. Alternative finance and private equity can be game-changers when it comes to helping businesses grow, especially those that don’t fit into the traditional banking model. There are so many great ideas out there that just need the right kind of capital—and some strategic guidance—to really take off.
Then there’s climate finance, which I think is going to be one of the most important tools we have moving forward. Nepal is already feeling the effects of climate change, and at the same time, we have natural advantages—hydropower, solar potential, biodiversity—that make us a prime candidate for green investment. If we can get the right frameworks in place, climate finance could help us build sustainable infrastructure while also creating jobs and boosting the economy.
But to unlock all of this, we need to get a few things right: clearer regulations, more transparency, stronger local capacity, and better collaboration between government, private sector, and development partners. If we can align on that, the opportunities are massive.
In your policy advocacy role, what concrete policy shifts have you advanced, particularly regarding Foreign Direct Investment (FDI) and the business environment?
A lot of the work I’ve been involved in through FNCCI has been about unlocking Nepal’s potential to attract and manage investment in a smarter, more forward-looking way. That starts with creating more clarity and confidence for investors—both local and international.
One key area has been pushing for bilateral investment agreements, so that foreign investors feel more secure and protected. We’ve also worked on some practical but meaningful reforms—like making it legally clear that foreign capital can flow into private equity and venture funds, which wasn’t always well-defined in our policies before.
Another big one was formalizing sweat equity—so founders and early team members can earn ownership through work, not just cash. That’s a huge deal for our startup ecosystem. We also helped clear the path for Nepali tech companies to invest abroad, which opens doors for growth and cross-border partnerships.
There’s been a consistent push to make the overall environment more investment-friendly—whether that’s through reducing bureaucratic friction, improving regulatory transparency, or encouraging institutional investors to participate in alternative assets. It’s about creating a system that’s both competitive and inclusive—one that reflects where Nepal is headed, not just where it’s been.
You have represented Nepal internationally. How do you view economic diplomacy in Nepal’s development?
For a country like Nepal, economic diplomacy isn’t just important—it’s essential. We have so much to offer, from natural beauty to cultural depth, but unless we’re telling that story intentionally on the global stage, we risk being overlooked or misunderstood.
To me, economic diplomacy is about more than just trade deals or investment pitches. It’s about building long-term relationships, opening doors for our businesses, and making sure Nepal is seen as a serious, forward-looking partner. It means shaping our own narrative, instead of letting others define it for us.
When executed effectively, it brings in investment, strengthens partnerships, and positions Nepal to take advantage of global opportunities in a way that’s aligned with our own development goals. It’s also a way of making sure our talent, ideas, and innovations have a seat at the table internationally.
You mentor startups and engage youth actively. How can startups significantly contribute to Nepal’s economic growth, and what kind of entrepreneurial ecosystem are you building?
Startups bring a kind of energy that’s hard to replicate—they move fast, take risks, and push boundaries. In a country like Nepal, where so many young people are full of ideas but often lack support, startups can be a real engine for economic change. They don’t just create jobs—they solve problems, introduce new ways of doing things, and expand what’s possible.
When I mentor founders, I try to focus on helping them become more resourceful rather than just chasing resources. It’s about building confidence, being creative with what’s at hand, and knowing when to pivot. I don’t believe in hand-holding, but I do believe in creating conditions where people can grow—whether that’s through access to capital, networks, or just honest, grounded feedback.
The bigger vision is to build an ecosystem that’s open, practical, and inclusive. One where young entrepreneurs from all kinds of backgrounds feel like they have a shot—not just at launching something, but at building something that lasts. If we can lower the barriers and normalize taking smart risks, we’ll start seeing entrepreneurship as a real path to upward mobility and long-term growth for Nepal.
Looking ahead, how do you envision improving Nepal’s overall investment climate, and what would you like your legacy or impact to be?
I think improving the investment climate in Nepal comes down to getting the basics right—clearer rules, less red tape, stronger institutions, and smarter ways to move capital. We need to make it easier for people to build things here and feel confident investing long-term.
We’re trying to show that it’s possible to mobilize capital in ways that are inclusive and aligned with national priorities. But the bigger goal is to build systems that give more people a real shot—especially those who’ve been left out.
As for legacy, I don’t think in those terms too much. If I’ve helped build structures that make it easier for others to succeed—especially young people with ambition—that’s impact enough for me.
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