Founded in 2010 by Mark Sears, CloudFactory empowers AI leaders with human-in-the-loop AI solutions, integrating people, processes, and technology to deliver high-quality training data and monitor in-production models. Dolma Fund Management invested in 2017 to support the company’s expansion into new markets. Since then, CloudFactory has grown exponentially in on-demand workforce solutions, specializing in Computer Vision, Natural Language Processing, and Data Processing.
With a global presence in four countries and recognition as the Medium-sized Company of the Year at The AI Journal Global Excellence Awards in 2022, CloudFactory continues to thrive as a tech-forward, scalable, and impactful organization, delivering accurate and reliable human-in-the-loop solutions to accelerate AI.
Established in Nepal in 2011 as Parakhi.com, FM (Fusemachines) expanded globally with operations in Nepal and its headquarters in New York, alongside offices in Latin America, Canada, and India. Initially supported by seed investments, FM emerged as a leading provider of AI products and solutions, catering to various sectors and customizing AI engines to enhance enterprise automation and efficiency. FM identifies AI opportunities within organizations, enabling clients to incorporate AI in their workstreams at lower cost and risk.
Dolma Fund Management invested in FM in 2019 to scale its operations. FM achieved a historic milestone in January 2024 by signing a business combination agreement with CSLM Acquisition Corp, paving the way for FM to be listed on Nasdaq under the ticker “FUSE”.
In 2011, Makar Jitumaya Surikhola Hydropower Pvt. Ltd. embarked on the development of a 6.4 MW hydropower facility to address severe power shortages. This initiative, combined with its sister firm Makar Jitumaya Limited, led to the creation of Makar Jitumaya Suri Hydropower Limited, boasting a total installed capacity of 13.4 MW.
The project, completed within budget, delivers clean energy and avoids approximately 74,841.7 metric tons of greenhouse gas emissions each year. The company’s successful IPO, which saw substantial investor interest, allocated 10 percent of its share capital to the local community, reinforcing its dedication to inclusive growth.
Established in 2013, Nidan Hospital is a 50-bed hospital providing quality healthcare services at Pulchowk, Lalitpur (South of Kathmandu). Nidan’s mission is to establish a cost-effective, centrally situated multispecialty hospital with an emphasis on nephrology, urology, and gastroenterology. The hospital started out as a clinic, expanded to 25 beds, and is currently at 50 beds.
Established in 2009, Rhododendron Biotech Pvt. Ltd. (RBPL) is a pharmaceutical manufacturing company, producing external liquids and powders. It produces variety of disinfectants used for different medical purposes and its flagship product is hemodialysis fluid, used in the process of dialysis for kidney patients in Nepal. RBPL now supplies to 95% of dialysis centers in Nepal. Dolma has been an investor with RBPL since 2016.
Solar Farm Nepal signed the first Solar PV Power Purchase Agreement (PPA) with the Nepal Electricity Authority for a 5 MW Grid-connected Solar PV Project. The company started commercial operations in October 2021.
With Dolma’s support, Solar Farm transitioned to a public company in January 2023, and is in the process of listing on the Nepal Stock Exchange. The company plans to invest in other energy projects including both grid-connected ground mounted solar PV projects and rooftop solar PV projects.
Sanima Group, a pioneer in Nepal’s hydropower industry, has invested in various projects, including the 28.1 MW Lower Likhu Hydropower Project in Ramechhap. In 2022, Swet Ganga became the first hydropower firm with foreign investment to be publicly listed on the local stock market, with an IPO oversubscribed by 7.5 times.
In 2023, Swet Ganga completed its first full year of continuous operation, becoming the first in our Renewable Energy portfolio to achieve this milestone. During the fiscal year 2022/23, Swet Ganga sold electricity worth USD 3.31 million, showcasing its financial success and together, our commitment to sustainable energy.
