Hedonova Acquires a 71 Per cent Stake in Mandakini Farms with a USD 24 Million Investment Through Its Eco-Investment Platform
Oct 10, 2023
BusinessWire India
Bangalore (Karnataka) [India], October 10: Hedonova expands its Carbon-Credit Ecosystem, focusing on projects in emerging Asian markets to pioneer carbon negativity and eco-conscious developments.
Hedonova, a renowned Paris-based hedge fund specializing in alternative assets and a global leader in carbon credit trading, is marking a significant stride in its sustainable investment initiative. With over $4 billion transacted in carbon credits in 2022, Hedonova is leading the way in carbon removal projects, making it one of the world's top 20 largest carbon credit traders. Hedonova is progressing its sustainable venture by expanding to emerging Asian markets, investing $24 million for a 71% stake in Nepal-based Mandakini Farms. This acquisition underlines Hedonova's commitment to diversifying its eclectic portfolio while emphasizing eco-conscious investments and carbon neutrality.
Mandakini Farms operates integrated farms in Nepal, South Korea, and Malaysia, integrating poultry, fisheries, and breeding kennels with short-term rentals for tourists and digital nomads. Mandakini is directing raised capital towards establishing carbon removal plants across all its locations, projecting to earn nature-based and removal-based carbon credits and aspires to achieve carbon negativity by 2025.
Hedonova's Chief Investment Officer, Suman Bannerjee, expresses immense enthusiasm about this innovative venture, emphasizing the integrated, cash flow-generating investments, "We have received FDI approval from Nepal's central bank and are excited about making impactful, integrated investments that generate significant cash flow."
Mandakini's founder, Sunita Regmi, regards Hedonova's investment as a monumental testament to Nepal's business ecosystem, demonstrating its resilience amid escalating macroeconomic challenges, "The engagement from an international hedge fund reflects the resilience and potential of Nepal's business ecosystem in navigating through the macroeconomic hurdles."
Sushil Raj, Hedonova's carbon credit portfolio manager who is leading the investment, highlighted the transformative impact of setting up carbon removal plants in Kathmandu, one of the most polluted cities globally. "Establishing carbon removal plants in Kathmandu will significantly contribute to reducing the prevalent pollution levels, aligning with our mission to promote environmental sustainability," he remarked.
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