The Investment Practice
We invest where we have an unambiguous edge: Afghan markets we understand intimately, counterparties we have known for years, and structures we can defend in any regime.
Philosophy
i. Locality is alpha.The most reliable advantage in this market is genuine, multi-decade presence — not a research seat in a distant capital.
ii. Structure is protection.In frontier environments, returns are made and lost in legal documentation, security packages and operational covenants — not in the headline thesis.
iii. Patience is a position.We hold for full cycles. Compounding rewards those who do not flinch when the noise rises.
Mandates
Strategy I
Equity and quasi-equity participations in real estate, light industrial assets and infrastructure with durable, inflation-protected cash flows. Conservative leverage, long-dated holding periods, partner-aligned governance.
Ticket size
USD 250k – 5M
Horizon
5 – 10 years
Geography
Kabul · Herat · Mazar
Strategy II
Short-duration, collateralised trade finance for established Afghan importers and regional exporters. Underwritten on counterparty quality, transactional security and inventory governance — never on hope.
Tenor
30 – 180 days
Security
Goods, receivables, guarantees
Currencies
USD · AED · EUR
Strategy III
Minority equity in proven Afghan operating businesses with regional ambition — agriculture processors, logistics platforms, consumer brands and B2B services. Active, board-level engagement.
Ticket size
USD 500k – 3M
Stake
10% – 30%
Sector focus
Ag · Logistics · Consumer
An invitation
"We co-invest with families and institutions who treat capital as a responsibility, not merely a pursuit."
Investor Relations
We accept a small number of co-investment partners each year. Every relationship begins with a private briefing pack — including our investment policy statement, fee schedule, and a candid assessment of the risks specific to operating in Afghanistan.
To request the briefing pack or schedule an introductory call, please write directly to the Office of Investor Relations.
Request Briefing Pack