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In this episode of the INSEAD Emerging Markets Podcast, host Nick Lall is joined by Altesh Baijoo, a dynamic entrepreneur at the intersection of finance, technology, and global markets. As Founder of Insaaph Capital and Director at Flow48, Altesh is helping reshape financial access across the developing world—unlocking investment opportunities through blockchain-enabled platforms and bridging SME funding gaps through tech-driven working capital solutions.

Altesh shares his journey from the corporate world to entrepreneurship, including his early intrapreneurial experiences in FMCG, his deep dive into fractionalized finance, and his growing conviction that emerging markets hold the key to future global growth. With 6,400+ users on InSoft’s platform and $25 million raised at Flow48, Altesh unpacks how he and his teams are leveraging alternative data, API infrastructure, and a trust-based culture to drive innovation in South Africa, the UAE, and beyond.

This wide-ranging conversation explores tokenization, the democratization of wealth-building tools, the challenges of SME lending, and Altesh’s core values of trust, transparency, and technical leadership. Tune in for an eye-opening look at how emerging markets are not just catching up—but leading the way.

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In this episode, we were joined by Yana Yasevich, Partner & Head of Platform at Alter Global, an early-stage VC firm focused on emerging markets worldwide.

Since 2020, Alter has made more than 70 investments in entrepreneurs based out of São Paulo, Jakarta, Dhaka, Lagos, Buenos Aires, Manila, Mexico City, and more, supporting high-character founders building not just companies, but their communities and economies.

We discuss:

• Yana’s entrepreneurial journey – how launching a sleep and wellness startup in San Francisco gave her first-hand experience in zero-to-one growth, fundraising, and operations, shaping her approach to VC.
• The Alter Global investment thesis – why they focus on fintech, commerce enablement, and logistics in high-growth markets like Brazil, Indonesia, Egypt, and Nigeria.
• Founder selection – how Alter identifies "inevitable entrepreneurs"—relentless, high-impact founders committed to scaling their ventures and supporting their local startup ecosystems.
• The unique challenges of emerging markets – limited late-stage financing and exit opportunities, and how Alter helps startups connect with global investors and build towards long-term success.
• How emerging markets are leapfrogging traditional industries – examples from insurance, logistics, and digital payments, where startups are bypassing legacy infrastructure and introducing mobile-first solutions.
• How Alter is expanding into new markets like Saudi Arabia and Vietnam – and what makes a country an attractive investment destination.
• Alter’s Fellowship Program – an innovative initiative matching top early-career professionals with Alter’s portfolio startups for six to twelve months on the ground, helping scale operations while exposing top talent to emerging market ecosystems.
• Advice for entrepreneurs in emerging markets – why founders should be strategic about raising venture capital, seek strong local investor partnerships, and prioritize clear, compelling pitches.
• The future of venture capital in emerging markets – why patient capital, deep market understanding, and founder-first investing will drive the next wave of global innovation.

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In this episode, we were joined by Darren Lapp, CEO of the New Forests Company, a sustainable forestry and timber products business operating in Uganda and Tanzania. Darren shares his journey from growing up in a forestry town in Canada to leading a major forestry enterprise in sub-Saharan Africa.

We discuss:

• Darren’s career path – how he transitioned from biology and soil science to forestry, influenced by early work experiences and international exposure.
• The challenges of forestry in Africa – balancing environmental sustainability, community engagement, and economic viability.
• Sustainable practices – how the New Forests Company restores deforested areas, integrates local communities, and secures FSC certification.
• Investment in forestry – why forestry requires long-term, impact-driven investors and how the industry is evolving in Africa.
• Local value addition – efforts to reduce reliance on raw material exports by producing finished timber products within East Africa.
• Leadership insights – Darren’s collaborative leadership style, developed through multinational experience and INSEAD’s International Directors Program.
• Future vision – scaling New Forest Company's impact by expanding industrial capacity and market development, with a goal of long-term economic sustainability.

After this podcast was recorded, Darren let me know they had closed a transaction with Shell Nature Based Solutions in forming a new impact forestry joint venture. You can learn more on the New Forests Company’s LinkedIn profile - https://www.linkedin.com/company/the-new-forests-company