KATHMANDU, Oct 30: Dolma Impact Fund (Dolma), a pioneering emerging-market focused venture capital and private equity fund, has announced the successful initial public offering (IPO) of its portfolio company, Fusemachines Inc. (NASDAQ: FUSE), a global leader in enterprise AI solutions.
The IPO marks Dolma’s first listing on US public markets, reflecting the expanding role of emerging markets in shaping the global tech and AI landscape, the fund management compnay said in a statement. Fusemachines’ NASDAQ listing marks landmark moment for Nepal’s private equity ecosystem.
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“Fusemachines’ IPO underscores Dolma’s decade-long commitment to nurturing innovation and enabling world-class companies to emerge from high-growth economies. It is proof that regions beyond traditional investment hubs have the capability to produce businesses that can compete at the highest global levels,” the statement quoted Tim Gocher OBE, CEO and Founder of Dolma Impact Fund, as saying. “Fusemachines, a US company, has much of its operations and software development enabled by teams in Nepal as well as the Dominican Republic. We are proud to have been an early investor and partner in Fusemachines’ journey.”
Dolma first invested in Fusemachines in 2018, recognizing its unique position as a pioneer in AI talent development and enterprise AI solutions. Throughout the partnership, Dolma supported Fusemachines’ strategic growth and expansion across North America, Nepal, and Latin America, including the scaling of its AI education programs that have trained thousands of engineers. Dolma also strengthened Fusemachines’ organizational capacity for global expansion through international ESG standards.
The IPO valued Fusemachines at $280 million. The partnership has created hundreds of high-skill jobs in Nepal, along with training more than 1,000 AI engineers.
