Reliable Private Equity Fund will invest 225 million in Akama Hotel

KATHMANDU, March 20:Reliable Private Equity Fund, which was promoted by Reliable Venture Capital Limited, has agreed to invest in Akama Hotel Limited, a five-star hotel in Dhumbarahi Kathmandu that is fully operational and includes all service facilities.

Sudaykant Jha, the fund's CEO, and Binay Kumar Shrestha, the hotel's president, signed the investment agreement on behalf of the fund and Akama Hotel.

According to the investment agreement, Reliable Private Equity Fund will invest twenty-five million rupees in Akama Hotel and purchase shares representing ten percent of the remaining share capital following the initial public offering.

Reliable Private Equity Fund is a fund established and administered under the Specialized Investment Fund Regulations, 2075, and registered with the Nepal Securities Board. It is managed by Reliable Venture Capital Ltd.

The primary goal of this fund is to invest in unlisted organizations and provide an alternate cash source for those companies.