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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

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Pedja is an INSEAD 14J and GP at Fifth Quarter Ventures, the first VC firm solely focused on Southeastern Europe. Pedja was on the Serbian National Water Polo team, and post-INSEAD scaled Gelato (a print-on-demand startup) into a unicorn my leading its expansion into emerging markets like India, China, and Russia.

In this episode we discuss the types of founders Pedja likes to invest in, traits he looks for in investors and partners, how to build brands in emerging markets as a foreigner and much more.

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Nubank (NYSE: NU) is Latin America's largest fintech company and the world's largest neobank with over 100 million users and a valuation of over $70 billion.

Livia is an INSEAD 09D and prior to Nubank directed tech and business analytics at Itau Unibanco (Latin America's largest bank) and was a Partner at McKinsey.

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Kevin Carter, founder and chief investment officer of EMQQ Global, joined us to disucss his journey in the investment world, initiated by his transformative reading of "A Random Walk Down Wall Street," which led to him working alongside economist Burton Malkiel of Princeton University in creating multiple stock market innovations like fractional investing and personal indexing, and his ultimate focus on China and other emerging markets.

Carter shares insights on the digital consumer revolution in these markets and his thoughts on India's potential today compared with that of China's 20 years ago.

Note: this episode was recorded before India's 2024 election.

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In this episode of the INSEAD Emerging Markets Podcast, we speak with Asha Mehta, Managing Partner at Global Delta Capital, about her impactful career in finance, focusing on emerging and frontier markets through a lens of sustainability and responsible investing.

Asha founded Global Delta Capital after working as an investment banker at Goldman Sachs and Lead Portfolio Manager and Director of Responsible Investing at Acadian Asset Management. Asha has been recognized as a "brilliant quant" by Forbes Magazine and ranked as one of the top 10 women in asset management by Money Management Executive.
Asha received her BA in Biological Sciences and Anthropology from Stanford and her MBA from Wharton, during which she made use of the INSEAD-Wharton Exchange.

Our discussion covers the societal impact of investing in emerging markets, the role of data science in global market analysis, and the value of on-the-ground experiences in diverse cultures plays in evaluating countries and businesses to invest in.

Asha's book, The Power of Capital, is a thrilling memoir of her personal journeys through emerging markets which delivers equal doses of business discussion and geopolitical insight.

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Andrew Henderson is the Founder and CEO of Nomad Capitalist, the world's leading offshore consulting firm dedicated to helping clients make informed decisions on the best countries to invest, start a business and live in.

Andrew has helped over 2,000 UHNW individuals go offshore and his YouTube channel has over 750,000 subscribers.

Nomad Capitalist Live, Nomad Capitalist's annual event, will be held in Kuala Lumpur this September 25th through 28th.