The mission of NMI is to contribute to the empowerment of poor people and to the creation of jobs, wealth, and economic and social sustainability in developing countries.
We accomplish this by investing in and building up microfinance institutions, which especially target poor women in developing countries.
NMI combines existing experience in the field of microfinance and international development cooperation, with the capital strength and financial experience of institutional investors.
NMI's investments are made through the NMI Funds: NMI Global Fund, NMI Frontier Fund and NMI Fund III. The Funds are managed by the company, NMI AS. NMI AS and all of the Funds are established under Norwegian law.
NMI AS is registered with The Financial Supervisory Authoriy of Norway as Alternative Investment Fund Manager (AIFM). The NMI Funds are not subject to supervision from The Financial Supervisory Authoriy of Norway.
The NMI Global Fund invests in more mature and larger MFIs primarily through Microfinance Investment Vehicles ("MIVs") as well as established MFIs in Asia, Africa, and Latin America.
The NMI Frontier Fund invests in young and emerging MFIs primarily through direct investments, but has a few investments in MIVs that mainly have emerging MFIs in their portfolio. Investment regions are Sub-Saharan Africa and South Asia.
NMI Fund III makes direct investments primarily in emerging MFIs, but may, in special cases, invest in MIVs that focus on such institutions. Investment regions are South East Asia, South Asia and Sub-Saharan Africa.
The Board of Directors
Bjarne Kveim Lie
Chairman of the Board
Bjarne Kveim Lie is a Managing Partner at Verdane Capital Advisors, one of the leading Nordic private equity investment firms. Prior to joining Verdane in 2001, Bjarne co-founded PaperX, a company which he helped scale from zero to sixty employees. He has also worked as a consultant at McKinsey & Company in London and as a research associate at the European University Institute in Florence.
Christine Koch Hatlebrekke
Christine Koch Hatlebrekke is a portfolio manager at DNB Life Insurance, where she is part of the team that manages capital for guaranteed pensions. Christine is responsible for the follow-up of Private Equity and Hedge fund investments in the portfolio. Previously, she worked as a senior analyst in Group Risk Management at DNB where she developed models for measuring credit risk and a management tool for monitoring the Group's risk. Christine started her career as a Corporate Trainee at DNB. She is holds a degree in Economics with a specialization in Finance from the Norwegian School of Economics (NHH).
Johan H. Andresen
Johan H. Andresen is the Chairman of the Board of Ferd, a Norwegian industrial and financial group which is fully owned by him and his family. Ferd is one of the largest privately owned industrial and financial groups in Norway. In addition to his appointment at Ferd and NMI, he is also serves on the boards of several organizations: Skandinaviska Enskilda Banken AB (SEB) and Junior Achievement Young Enterprise, Europe. He is also the Chair for the Council on Ethics for the Government Pension Fund Global. He holds an MBA from Erasmus in Rotterdam and a BA from Dartmouth College.
Torben Huss is the Executive Vice President of the Investment Fund for Developing Countries (IFU). Torben has been part of IFU’s executive management group since 2009. Prior to that he was head of IFU’s investment department from 2002-2009 responsible for all new investments in IFU and the IØ Fund. Torben holds a MA in Public Administration from the University of Copenhagen and a PhD from Copenhagen Business School. He is a member of the board for the Danish Pension Fund for Lawyers and Economists (JØP).
Erik Sandersen is Executive Vice President of Financial Institutions at Norfund, where his focus is on implementing and managing Norfund's investments in banks and microfinance institutions in Africa, Asia and Central America. He joined Norfund as Investment Director in 2014 and is today part of the company's management team. Prior to joining Norfund, he was co-founder and partner of the venture capital company Incitia Ventures for 10 years. In addition, Erik has had several senior roles in the IT industry as well as being a consultant in the Boston Consulting Group in London and Oslo. He sits and has been on several boards in Europe and Africa. Erik has an MBA from Stanford and an M.Sc. From NTNU.
Ole Sandsbraaten is the CFO for NMI. Mr. Sandsbraaten has extensive experience from various companies in the area of financial analysis, auditing and accounting. Earlier appointments include leading his own financial consulting services firm, Auditor at PWC, CFO at IKANO Finans AS, and Finance Director at Majortrans Flytteservice AS.
Mr. Sandsbraaten holds a Master of Science (MSc) in Economics and Business Administration from Norwegian Business School (BI) and advanced studies in Accounting and Auditing at Norwegian School of Economics (NHH).
Arthur Sletteberg is the Managing Director of NMI. Prior to joining NMI, Mr. Sletteberg held the position of Executive VP responsible for financial investments at Ferd AS. During his career he has served as Chief Financial Officer and Chief Investment Officer at Oslo Pensjonsforsikring, Investment Director at Storebrand Asset Management, Deputy Head of Treasury at DNB and Consultant at the Norwegian Central Bank. Mr. Sletteberg is also a member of the Council of Ethics for the Government Pension Fund Global, and he serves on the boards of directors at Entra ASA and Arctic Securities AS. Mr. Sletteberg holds an MBA from the Norwegian School of Economics (NHH), and a Master in International Economic Policy Research from Institut für Weltwirtschaft in Germany.
Njord Andrewes is Investment Director in NMI. Prior to joining NMI, Mr. Andrewes was a Senior Equity Research Analyst at Lazard Capital Markets. Before Lazard, Mr. Andrewes was an Equity Research Analyst at Janney Montgomery Scott, LLC. He began his career at Robertson Stephens in Sales and Trading. Mr. Andrewes received an MBA in Finance from Kelley School of Business at Indiana University, and a B.A. in Economics from Hope College.
Knut Frigaard is Investment Director in NMI. Prior to joining NMI, he worked for 10 years at Verdane Capital Advisors, a Nordic focused venture capital company investing in early stage companies and portfolio acquisitions. Previously, Mr. Frigaard also worked at McKinsey & Company where he served clients in various sectors with a focus on strategic planning and operational excellence. He has also held positions at Médecins Sans Frontierès and Mamut ASA. In addition, Mr. Frigaard has served on numerous boards in the Nordic region as well as in Europe and the US.
Christian B. Ramm
Christian B. Ramm is Investment Director at the NMI. Previously, he was Finance Manager at Ferd Social Entrepreneurs. Prior to that, he was Finance Manager and Country Director for Norwegian People’s Aid in Angola. In addition, He has held management positions at Canal Digital Norway AS, Schibsted Förlagen AS, and Schibsted International Books AS. He has also worked as a journalist for Finansavisen, a major financial newspaper in Norway. Mr. Ramm holds a Siviløkonom degree from NHH Norwegian School of Economics and has completed studies in psychology at the University of Bergen (UiB).
Godfrey Kaindoh is Investment Manager at NMI. In addition, he runs NMI’s Kenya office and oversees its Sub--Saharan Africa investments. Previously, he was the lead consultant and Chief Investment Officer at Unclaimed Financial Assets Trust Fund. Prior to that, he was a Senior Investment Analyst at ICDC, a state owned DFI in Kenya, where he sourced, led and closed multiple transactions in diverse sectors in Kenya. Godfrey started his career at the National Treasury - Kenya, where he doubled as an accountant and efficiency-monitoring officer (Economic & Finance).
He holds a Master of Science degree in Financial Economics and a Bachelor’s degree in Business Management (Finance and Banking). He is also a Certified Public Accountant (Kenya) and CFA candidate.
Anna W. Klawitter
Anna Waage Klawitter is Investment Manager at NMI. Prior to joining NMI, Mrs. Klawitter was an Investment Analyst with Kempen Capital Management in Edinburgh, Scotland, covering European small-cap equities. Mrs. Klawitter holds the Siviløkonom degree from the Norwegian School of Economics (NHH) and an MSc in Economics (Finance) from the University of Edinburgh. She is also a CFA Charterholder.
Lone Søndergaard is Investment Manager at Nordic Microfinance Initiative NMI. In addition, she runs NMIs Danish office and supervises NMIs social performance activities. Prior to joining NMI, Lone was program- and project manager at Danske Bank, working with operational excellence, process optimization and lean leadership. She started her carrier at MYC4, where she was responsible for establishing partnerships with African microfinance institutions. Thereafter, she worked as a consultant for Fusion Investments – a British start-up investment firm, focused on East Africa. Concurrently, she fulfilled several assignments for Danish Forum for Microfinance and taught microfinance at Copenhagen University. Lone holds a Master’s degree in International Business from Copenhagen Business School (2007).
Smriti Chandra is an Investment Manager in NMI. Prior to joining NMI, she was a co-founder of a boutique Investment Banking outfit – First League Ventures – based out of New Delhi, India for 3 years, focused on supporting start-up companies in M&A and raising seed to Series A venture capital funds across technology and consumer sectors. Previously, Smriti also worked at EY for 10 years where she served clients in multiple sectors with a focus on transaction advisory services, including investment banking (M&A and private equity fund raising), financial due diligence and bid advisory services. She has also worked with KPMG in their transfer pricing division. Smriti is a qualified Chartered Accountant from the Institute of Chartered Accountants of India and a Commerce graduate from Bangalore University.
Technical Assistance Coordinator
Cathrine Streeval is Technical Assistance Coordinator at NMI and has been with NMI since its startup in 2008. Before joining NMI she worked for McKinsey & Company for 6 years where she held various positions. Prior to joining McKinsey & Company, she worked at Indiana University. Ms. Streeval holds an MBA from Instituto de Empresa in Madrid and a BA from Indiana University.