Who we are
We are focused and patient capital and long term investors by design. We are as ambitious as the companies we invest in.


David Nangle
CEO
David Nangle has spent his career focusing on emerging markets and within that the financial services sector. He was part of ING Baring’s Emerging Markets Research team between 2000 and 2006, after which he spent nearly 10 years with Renaissance Capital in both Moscow and London, as head of financials and research overall. He helped the firm develop and grow their financials and broader research footprint from a strong Russia base to a leading EM and frontiers franchise.
Having had a front row seat in the evolution of the financials sector across emerging markets since the late 90’s, in 2015, he left the world of investment banking and co-founded VEF to back founders building the next generation of financial services firms across the emerging world.


Henrik Stenlund
CFO
Henrik Stenlund is the CFO of VEF. Previously in his career, Henrik held a number of senior positions within the Modern Times Group (MTG), most recently as CEO of the production companies Strix Television AB and Strix Drama. Prior to becoming CFO of VEF, Henrik shared his time between Pomegranate Investment AB, VNV Global and VEF. He holds a M.Sc in Business and Economics.


Helena Caan Matsson
General counsel
Helena Caan Mattsson is the General Counsel of VEF. She has an extensive background in M&A and corporate law from several law firms in Sweden and abroad. Most recently, Helena held the position of Associate at the law firm Cederquist in Stockholm. Previously, Helena has held positions at the law firms Baker & McKenzie in Sydney, Australia and Roschier in Stockholm, focusing on domestic and cross-border M&A, including emerging markets, as well as general corporate and contracts law. Helena holds an LL.M from Stockholm University and an LL.M in Business Law from Jönköping International Business School.


Alexis Koumoudos
Investment partner
Alexis is an Investment Partner at VEFwhere he primarily focuses on sourcing new investment opportunities and assists with portfolio management. Prior to joining VEF Alexis was a partner at Skyline Capital Management, an emerging market focused hedge fund, where he invested across the region for 5 years. Before joining the world of finance Alexis was a successful entrepreneur. He holds a BA in Business Finance from Durham University and an MSc in Quantitative Finance from Cass Business School.


Eire Smith
Associate
Éire is an Associate at VEF where she is a member of the investment research and portfolio management team. Éire joined VEF straight out of university, graduating with a BA in Business and Economics from Trinity College, Dublin.


Elisabet Hultén
Deputy CFO
Elisabet Hultén is employed as Deputy CFO of VEF. Before joining VEF, Elisabet has held several positions within the finance function and has a background within Big Four. Elisabet holds a M.Sc in Business Administration from Gothenburg School of Economics and Law.


Shashi Mahajan
Investment analyst
Shashi is an Investment analyst at VEF where he primarily focuses on evaluating and executing new investment opportunities. Shashi has over 5 years of investing experience in India and is currently pursuing his MBA from London Business School (LBS).
Prior to VEF, Shashi was a Senior Analyst at True North Managers, an India buyout PE fund with $3B corpus, where he invested in multiple companies across financial services and healthcare sectors in India. Shashi holds a B.E. (Hons) in Chemical Engineering from BITS Pilani, India and started his career with the investment banking teams at JP Morgan India and Ambit Capital.
David Nangle
CEO
Henrik Stenlund
CFO
Helena Caan Matsson
General counsel
Alexis Koumoudos
Investment partner
Eire Smith
Associate
Elisabet Hultén
Deputy CFO
Shashi Mahajan
Investment analyst
Board
Lars O Grönstedt
Chairman of the board
Appointed: Chairman and member of the Board since 2015 Independence: Independent of the Company, management and major shareholders.
Education: BA in languages and literature from Stockholm University, and an MBA from Stockholm School of Economics. Previous experience: CEO of Handelsbanken between 2001–2006, and Chairman of the Board of Handelsbanken between 2006–2008.
Other significant positions: Senior advisor to Nord Stream 2, chairman of Realcap Ventures Fund 1 AB (publ) and VNV Global AB, deputy chairman of the Swedish National Debt Office and speaker of the elected body of representatives of Trygg-Stiftelsen.
Ranjan Tandon
Board member
Appointed: Member of the Board since 2017
Independence: Independent of the Company and management but not independent of major shareholders.
Education: Degree in Chemical Engineering from the Indian Institute of Technology in Kanpur, India and a graduate of Harvard Business School.
Previous experience: He has held several operating positions with DCM in India and Halliburton in Europe; was CFO of InterMarine in Texas; and a financial Executive with Merrill Lynch before following his passion for investing.
Other significant positions: Founder and Chairman of Libra Advisors, a New York hedge fund established in 1990, which was converted to a family office in 2012. He is a board member of the NYU Tandon Engineering School, ArborGen Inc and the Carl Schurz Park Conservancy.
Per Brilioth
Board member
Appointed: Member of the Board since 2015
Independence: Independent of the Company, management and major shareholders.
Education: Graduate of Stockholm University and a Master of Finance from London Business School.
Previous experience: Between 1994 and 2000, Per Brilioth was head of the Emerging Markets section at the Swedish investment bank Hagströmer & Qviberg and he has worked close to the Russian stock market for a number of years.
Other significant positions: Since 2001, Per Brilioth is the Managing Director of VNV Global AB. He is the Chairman of the board of Pomegranate Investment AB and member of the board of VNV Global AB.
Allison Goldberg
Board member
Appointed: Member of the Board since 2020
Independence: Independent of the Company, management and major shareholders.
Education: Bachelor of Science in Economics from Wharton School at the University of Pennsylvania.
Previous experience: Partner at the venture capital fund Advancit Capital, focusing on early stage investments in consumer and media technology companies. Previously, Ms Goldberg has also served as Group Managing Director & Senior Vice President of Time Warner Investments and worked in the Global Media Group, Investment Banking at Morgan Stanley. Previously a board member of or active observer on the boards of several companies including Adify, Amino Apps, Bustle Digital Group, Discord, Dynamic Signal, FanDuel, Fuse Media, iStreamPlanet, MediaVast, SambaTV, Simulmedia, Trion Worlds, and Visible World.
Other significant positions: Partner at Saints Capital Media Ventures, a technology and digital media fund. Board member of FirstMark Horizon Acquisition Corp, YieldMo Proletariat, and advisor to Bustle Digital Group, the largest female-focused digital media company.
Dave Nangle
CEO/Board member
Appointed: Member of the Board since 2015
Independence: Not independent of the Company and management but independent of major shareholders.
Education: Degree in B. Comm International (French) from University College Dublin, Ireland.
Previous experience and other significant positions: David Nangle has spent his career focusing on emerging markets and within that the financials services sector. He was part of ING Baring’s Emerging Markets Research team between 2000 and 2006, after which he spent nearly 10 years with Renaissance Capital in both Moscow and London, and has helped the firm develop and grow their financials and broader research footprint from a strong Russia base to a leading EM and frontiers franchise. Board member of various portfolio companies.
Lars O Grönstedt
Chairman of the board
Ranjan Tandon
Board member
Per Brilioth
Board member
Allison Goldberg
Board member
Dave Nangle
CEO/Board member