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Meet the Team
GBF's leadership, investment professionals and other staff have a blend of skills that reflect GBF’s approach to investing in emerging markets. We are based at our headquarters in Washington, D.C., and have staff in India, Indonesia, Kenya, and Peru.
Overseeing the staff is a Board of Directors that are active participants in GBF’s planning and development. GBF’s senior advisory group is composed of experienced leaders in the fields of international development, international finance, and academia. The advisory groups help GBF with its oversight and strategy, continually refining and improving its approach.
Headquarters: Washington, DC
New Delhi, India
Harold Rosen is GBF's CEO. In May 2004, Harold founded IFC's Grassroots Business Initiative (GBI), which he managed until 2008, when it was restructured and spun off to become the Grassroots Business Fund (GBF).
Prior to his work with GBI and GBF, Harold worked at with the World Bank Group for over 30 years. He served as an investment officer in IFC's Latin America and Africa Departments; as manager for IFC Financial Planning and Policy; as a member of the task force that started the World Bank Group operations in the former Soviet Union; as manager of IFC’s Asia Department; and as director of IFC’s Central and Southern European Department. He has both funded and managed large IFC investment portfolios and has played a major role in starting IFC’s microfinance and SME activities; this included the creation and management of the Mekong, South Asia and Southeast Europe Small Enterprise Facilities. Harold has helped IFC move into a number of new approaches, geographic markets, products and services. In March 2000, Harold created and served as director of the Small and Medium Enterprise department, a joint IFC/World Bank department. He worked with this group until creating GBI in 2004.
Harold joined the World Bank Group in 1978 through the Young Professionals Program. He holds an M.B.A. from Harvard Business School, as well as bachelor’s and master’s degrees in regional science from the University of Pennsylvania.
In 2008, Jaime Ramirez joined as part of the founding team of the Grassroots Business Fund (GBF). Jaime is responsible for managing GBF's investment activities globally, including the delivery of Business Advisory Services. Prior to his current role as Chief Investment Officer, he served as GBF's Portfolio Manager for the Latin America and Asia regions.
Jaime has over 15 years experience in finance, project management, risk analysis and operations consulting in developing countries. He has helped develop GBF's operations, standards and initiatives. Jaime became familiar with high impact businesses as a business associate for Gone Rural in the Kingdom of Swaziland, where he supported the management team through an assignment with MBAs Without Borders.
Jaime holds a BSc in Physics from Universidad de los Andes in Colombia, an International MBA from EAE Business School and a specialization in Structured Financial Products from Institut d'Estudis Financers in Spain.
Jaime is fluent in English and Spanish and intermediate in French and Italian. Jaime has lived in Colombia, Peru, Spain, the Kingdom of Swaziland and is currently based in the United States.
Alycia Kellman joined GBF in 2009. As Vice President of Legal & Compliance, she provides legal support for the entire scope of GBF activities. She helps to structure investment transactions and drafts all investment, grant, consulting, and cooperation agreements to implement GBF deals. Alycia also serves as GBF's Compliance Officer.
Alycia has over 10 years of legal and international development experience. Prior to GBF, Alycia was the U.S. Director for the Institute for Democracy in Africa (IDASA), a South African nonprofit that ran democracy and governance programs in over twenty countries on the African continent. Alycia consulted for FINCA International on microfinance regulatory issues in Amman, Jordan and worked as an international project finance attorney at Dewey & LeBoeuf LLP.
Alycia holds a law degree from Georgetown University, a master's degree in human rights and democratization from the University of Witwatersrand, and a bachelor's degree in political science from Yale University. Alycia serves on the boards of Women LEAD, the South Africa-Washington Internship Program (SAWIP), and Friends of IDASA. She has lived in Africa, Asia and Europe, and has traveled extensively throughout five continents.
Rebekah, GBF's VP Finance & Admin, joined GBF in July 2008. In this capacity, she works with the operations team on financial management, office coordination (both HQ and field) and IT. Rebekah is also part of the BAS team where she is responsible for grant administration, development and evaluation of the program, learning and knowledge sharing. Prior to this role, Rebekah served at GBF as Operations Officer, and concurrently as SME Export Facility Portfolio Analyst and Operations Assistant. Previously she worked for the U.S. Committee for UNDP, where she played an active role in the operations of the organization and new project planning. Rebekah also served as a delegate to the Children and Youth Caucus for the UN Conference on Sustainable Development- 16 through SustainUS.
Rebekah holds an M.B.A. from the University of Maryland. She is a 2008 graduate of American University where she earned a B.A. in International Studies focusing on International Development and International Environmental Politics.
In her free time, Rebekah tries to spend as much time outdoors as possible. She enjoys hiking, camping, running, and traveling to new places to experience the cultures and environments of the world.
Zoya, GBF's Portfolio Support Officer, joined GBF in February 2013. While serving as the general HQ liason for the regional investment teams, she also monitors the supervision of GBF's portfolio and manages the client-related metrics and data.
In 2012, Zoya earned a B.A. in Economics and International Development Studies from McGill University. During the course of her studies, she traveled to Geneva, Switzerland, where she participated in a six-month program with the School fro International Training. Over the years, she has conducted research for development-focused ventures in Canada and the US, including for a USAID-funded health program project led by Futures Group, a global health consulting firm based in Washington, DC. At Futures Group, her research centered on understanding the drivers and health dimensions of HIV.
As a Pakistani-American, Zoya spent her childhood in the outskirts of Washington, DC in Maryland. She is conversationally fluent in Urdu and French, and she especially enjoys playing soccer, writing in her spare time, and traveling.
Julio Ayca has been working in the venture capital industry in Central America for 7 years; finding and evaluating potential investments, performing due diligence, and supervising investee companies. Julio is Peruvian, and has an MBA from INCAE Business School. He was an INCAE researcher and has written more than 35 documents, including case studies, technical notes, and papers about functional areas such as Finance, Operations, Strategy, and Marketing and Organisation. His work has been accepted in Revista de Empresa (Finance), Balas 2005 (Finance), the Journal of Business Research (Finance), the European Case Clearing House (Finance and Operations), and Harvard Business Online (Social Responsibility).
Julio has focused on finance, including the valuation of firms, equity investment, capital structure, and financial distress, studying industries such as lodging, banking, oil patch services, and agro-industry in different countries. He has also focused on operations, including manufacturing strategy, process selection, and facility location, studying sectors such as beverages, clothing assembly, and printing.
Before INCAE, he worked in Peru for five years as a Special Analyst for Administrative Management in the National Superintendence of Tax Administration. Prior to that, he worked in Prodin Peruana Inc., a clothing export company, supporting Production Management and Finance Management.
Natasha has been with GBF since 2008, and as the RM for the Latin America region, she is responsible for managing GBF's activities in the region, including business development and partnership building, as well as management of the investment portfolio, our capacity building programs, and impact measurement.
Prior to GBF, Natasha worked for two years at IFC’s Grassroots Business Initiative (precursor of GBF), as a consultant for the Latin America and monitoring & evaluation teams. She worked in Bolivia, Peru, and Colombia, providing hands-on business strengthening support to clients, and building pipeline and partnerships in the region.
Natasha earned her B.A. in economics with a specialization in management and marketing at the International University in Moscow, Russia, where she graduated magna cum laude. She also holds an M.A. in liberal arts with a concentration in Latin American Studies from Dartmouth College; and an M.B.A. from McDonough School of Business at Georgetown University.
In her free time, Natasha loves to travel, ski, play tennis, run, and dance salsa; she also enjoys theatre and modern dance, world music and film, and reading.
Vijay joined GBF in July 2014. Vijay is currently an Investment Officer for GBF's India team. Vijay assists existing investments in their process of value creation, growth and evolution and facilitates GBF's investments in new businesses.
Prior to joining GBF, Vijay was at the Mahindra Group as part of their strategy team for their Two Wheeler division and later with their incubation and PE arm, Mahindra Partners, in Mumbai.
Vijay earned his Bachelor's degree in Commerce from HR College in Mumbai and holds an MBA with a specialization in Finance.
Vijay is fluent in English, Hindi and Tamil. In his free time, Vijay tries to spend as much time outdoors as possible. He enjoys running, sailing, paragliding, and traveling.
Sahiba joined GBF in early 2013 as an Analyst with the India team. She is responsible for reviewing pipeline deals, conducting due diligence on potential investments, supervising current investees, and monitoring compliance and other metrics. She also monitors advisory services to portfolio companies and manages the operations of the India office.
Prior to joining GBF, Sahiba worked in the development sector with a non-profit organization in India providing capacity building support to partner organizations and raising capital for early stage entrepreneurs. She started her career at Deloitte Consulting (Strategy and Operations). Sahiba graduated with distinction in Economics from Lady Shri Ram College, New Delhi.
Neil joined Grassroots Business Fund in August of 2014 as the Communications and Executive Assistant. A graduate from Georgetown University, Neil studied Political Economy, with an emphasis on topics in economic development. GBF represents Neil's first professional foray into the international development field. As a student, Neil worked with the non-profit Georgetown International Relations Association and the Government Accountability Project. In his free time, he enjoys cooking, travel, and reading.
Kathryn earned a Bachelor's degree from Middlebury College with a major in International Politics and Economics. While at Middlebury, Kathryn spent a semester abroad in Buenos Aires, Argentina and another semester in Kunming, China to polish her studies of Spanish and Mandarin. Kathryn's past experiences include interning for Middlebury's Center for Social Entrepreneurship and conducting field research on microfinance in Yunnan Province, China. Kathryn was also editor-in-chief of Middlebury's student newspaper. GBF is her first stop after graduation.
Olga joined GBF in November 2013. She is supporting the team in analysis of potential investments and in supervision of the existing portfolio.
Prior to GBF, Olga worked in a major Russian oil company, conducting strategic macroeconomic analysis and modeling of international energy markets; and before that as an Investment Banking analyst performing due diligence and valuation of M&A transactions. Olga holds BS and MA degrees in economics from the Moscow State University. She also earned an MBA degree from the University of Michigan, and a CFA charter.
In her free time Olga enjoys going to concerts, cooking Russian food and traveling.
Rose is GBF's Finance Officer. In this capacity, Rose works with GBF's Acting VP Finance & Admin on financial management. She also works with the operations team on loan tracking including invoicing. Prior to GBF, Rose worked with the International Finance Corporation (IFC) with responsibilities in areas of budget formulation and monitoring. She also played a major role in managing the trust funds of the SME Department which included conducting (i) compliance review of IFC's donor-funded facilities; and (ii) trainings for finance staff in the field offices. Rose was also responsible for successful audits of the Department's regular budget and trust fund activities. Previously, Rose worked with the Asian Development Bank as a budget analyst and was part of a project team that handled the South Pacific countries.
Malavika joined GBF in September 2013 and is the Acting Country Manager for Indonesia. Based in Jakarta, Malavika is responsible for leading the investments program in Indonesia and managing GBF's activities in the region including business development, portfolio management and designing business advisory services.
Prior to GBF, Malavika worked for a life sciences company based in Maryland, USA where she worked directly with the CEO and senior management on strategic planning, fundraising and business development initiatives.
Malavika started her career as a corporate banking in India with HDFC Bank Ltd. where she was responsible for managing a portfolio of asset and liability based products designed for top-tier corporates, financial institutions and government agencies. Additionally, she also worked with a DC based boutique M&A consulting firm and an emerging markets focused private equity fund of funds. Malavika holds an MBA in Finance and Investments from George Washington University in Washington DC and a diploma in Environmental Law from the National Law School of India University.
Malavika loves the outdoors and likes to dabble in everything from recreational running, hiking, skiing and most recently open water diving across the Indonesian archipelago.
Saurabh is currently working as India Investment Officer and joined GBF in August 2014. Prior to joining GBF, Saurabh was working with Ennovent, an innovation accelerator, wherein he was responsible for managing Ennovent's impact fund and due diligence practice. Saurabh has earlier worked with a venture capital fund wherein he played a crucial role in placing investments in the education, manufacturing and technology sectors. Saurabh has also worked with Ashland Inc. (a Fortune 500(c) company) wherein he was part of a small team developing significant growth strategies for Ashland's operations in India. Saurabh is a B. Tech from Institute of Technology- Banaras Hindu University and a MBA from Ohio State University. Saurabh has also passed CFA Level II. Saurabh is fluent in Hindi and English. He enjoys reading, photography and traveling.
Eric Meissner joined GBF in October 2011. Based in Washington, DC, Eric supports the Chief Investment Officer, Executive Director and GBF staff in the Supervision process of GBF’s investments. GBF’s innovative use of private sector approaches to human development, and the potential to positively influence traditional development paradigms and theories of change, drew Eric to GBF.
Prior to GBF, Eric worked for the U.S. Agency for International Development and development consulting firms since 1999, both in the field and in Washington, DC, in support of efforts to mitigate the effects of disaster and conflict around the world, including the Middle East, Central Asia, Africa and the Balkans. Most recently, Eric was assisting the work of a U.S. Inspector General to research the impact of US-funded reconstruction, stabilization and development programs, and barriers and opportunities to achieving accountability and learning. He has also served as a Knowledge Management advisor to GBF.
Eric earned a B.A. in International Relations and Political Science from Syracuse University, and his M.B.A. from the University of Oxford, where he focused on Social Innovation, Social Finance and Social Entrepreneurship. Outside of work, Eric enjoys time with family and loved ones in the U.S. and Germany after many years overseas.
Courtney joined GBF in early 2012 as an entry point to SE Asia and innovative finance. As an Investment Analyst based in Jakarta, he is responsible for all steps of the investment process including sourcing new deals, conducting due diligence, and making investment valuations. In tandem, he coordinates consultancies and monitors advisory services to portfolio companies.
Prior to GBF, Courtney's main experience was in agriculture. He worked on mixed husbandry farms in the United States and France as well as raised beef cattle for seven years. He has also fundraised for development and environmental non-profits, one connected to a two month immersion study of Mali.
Courtney earned a BA in International Relations and Political Economy from Carleton College. He is a native English speaker and proficient in Bahasa Indonesia and French. He has left snowboarding and soccer in the United States in favor of surfing and ultimate in Indonesia.
Lilian Mramba joined GBF in 2011 and is Regional Manager for Africa. Based in Nairobi, she manages the Africa investment portfolio, and is responsible for GBF activities for the region. That includes leading the regional strategy on investment activities, business advisory services, and impact measurement.
Prior to GBF, Lilian was at Moss Adams LLP, the largest independent accounting and consulting firm in the western part of the United States, where she managed large-scale social responsibility audits for publicly-traded companies, and financial audits for social welfare organizations and governmental entities. She also spent time at African Development Bank in Tunis where she worked various investment projects across Sub-Saharan Africa.
Originally from Tanzania, Lilian is a native English and Swahili speaker and has basic knowledge of Spanish and French. She is an avid runner and enjoys traveling and exploring different cultures. Lilian graduated Magna Cum Laude from the University of Idaho with B.S. in Accounting and Finance, earned an MBA with honors from Thunderbird School of Global Management, and is a Certified Public Accountant.
Ezra Musoke joined GBF on July 1st as Africa Portfolio Manger and Senior Advisor. He will be based in both Nairobi and Tanzania with frequent visits to our portfolio companies. He will be responsible for the overall performance of the Africa portfolio and will participate in a selection of new investments. In addition, Ezra will contribute to the regional strategy, strengthen local investment process, and over time, develop local credit and compliance functions.
Prior joining GBF, Ezra was a partner at InReturn Capital, and before that was the general manager of GroFin Tanzania. He holds a Masters in Financial Management, Post Graduate diplomas in Banking and Financial Management and a Bachelor of Art from Makerere University in Uganda.
Ezra is Ugandan born, raised in Kenya and currently living in Tanzania. He has a strong track record in SME investment in the East African region in multiple sectors, investing through equity, quasi-equity structures and business development services. He has developed a deep understanding of the dynamics and characteristics of SME's and their social and development impact.
Ezra is your typical arm chair sports fanatic, who knows all these ridiculous sports statistics about soccer, athletics, rugby, boxing and skate boarding, etc.
Dennis is an Investment Analyst based in Nairobi. He joined Grassroots Business Fund in January 2014. His role is to support Investment Officers with sourcing and screening new investment opportunities in Africa; conduct due diligence, modeling, assessing social returns on investments, and measuring fit with GBF strategy.
He was previously at Transglobal Consultants Ltd as an Associate Partner where he helped clients with business advisory services. He earned his bachelor's degree in International Business Administration from United States International University (USIU-A) and is soon to finish his MBA from the same university.
In his downtime Dennis loves watching documentaries and playing soccer. He is also an avid blogger.
Vikram brings in more than a decade of experience spanning impact investing, investment banking, auditing and financial consulting. As the Country Manager for GBF's India team, Vikram oversees and leads the investment and operational processes of GBF in India. Prior to joining GBF, Vikram was a Vice President at Unitus Capital where he led equity raise transactions in Agriculture, Healthcare and Financial inclusion sectors. Earlier, he was a Portfolio Manager with Acumen Fund where he structured and managed several investments in their India office. Prior to Acumen, Vikram worked in the audit and financial consulting domains with the BDO group in its Oman office. Vikram is a Chartered Accountant and holds an MBA in finance and strategy from the Indian School of Business, Hyderabad. he is an avid photographer and enjoys traveling, sports and spirituality.
Mayra joined Grassroots Business Fund in December 2012 as Office Manager for GBF's Latin America region. Since June 2013 she has been responsible for LatAm office administration, accounting and logistics in coordination with headquarters and providers.
Mayra earned her Bachelor's degree in Hospitality Management from San Ignacio de Loyola University in Peru. Since graduating in July 2012, she has worked in services companies interacting directly with customers, where she was in charge of cash management and team organization. Mayra speaks English, Portuguese, and French, apart from Spanish. She enjoys traveling, reading, and the barista-coffee world.
Beth, GBF's Operations Officer, joined GBF in 2012. She is responsible for front office administration, communications, travel support, and human resources among other HQ support roles.
Beth earned her Bachelor’s degree in 2012 from American University in Business Administration with a double major in International Development. Impact investing represented the foundation of Beth’s undergraduate studies. Her past experience includes interning for organizations such as Accion International, MicroRate, and United Way of MA Bay and Merrimack Valley. Beth also spent a semester abroad in Paris at the Sorbonne studying French.
She enjoys reading, doing yoga and checking out the art museums around DC.
Karan joined Grassroots Business Fund in August 2013 as an Investment Analyst for GBF's India region. Karan supervises existing investments and conducts due diligence on potential transactions.
Prior to joining GBF, Karan spent two years in the Governance, Risk and Internal Controls and corporate finance teams of Mazars, India: While at Mazars, Karan has been involved in the Finance, Human Resources and production audits along with valuation analysis and due diligence. He started his careers at Deloitte Consulting in India, where he was part of the strategy and operations team working closely with the telecommunications sector. Karan has completed his M.Sc in Accounting and Finance from University of Exeter. He enjoys playing football, golf and traveling during his spare time.
Miguel joined Grassroots Business Fund in July 2011. Miguel is currently an Investment Officer for GBF’s Latin America region. Miguel supervises existing investments and conducts due diligence on potential transactions.
Prior to joining GBF Miguel was a financial analyst for Banco de Crédito del Peru where he was part of the structuring team which oversees the bank´s funding strategy in the capital markets. Miguel earned his bachelor´s degree in Business from Pacifico University and holds a Specialization in Management and Sustainable Development from ESAN Business School in Peru.
Miguel is fluent in English and Spanish. He enjoys surfing, reading, photography and travel - so far he has visited 15 countries across three continents.
Elma joined GBF in August 2014 as a Senior Analyst with the Indonesia team. She is responsible for sourcing new deals, conducting due diligence, and portfolio monitoring in Indonesia.
Prior to GBF, Elma worked for Quvat Capital, a private equity firm with investments in Indonesia, Malaysia, and Singapore. She was responsible for managing Quvat's portfolio companies as well as supporting due diligence and investment exit initiatives. Elma started her career at the Boston Consulting Group Jakarta office, where she worked on various projects in telecommunication and auto industry.
Elma holds an MBA from Kellogg School of Management, Northwestern University and a Bachelor's degree in Industrial Engineering from Institut Teknologi Bandung (ITB). She is a native speaker of Indonesian and fluent in English. During her free time, she enjoys playing music and traveling.
Noel joined GBF in August 2013 as Office Manager for the Africa regional team. Noel is responsible for local accounting and payroll, and efficiently running the local operations including managing local vendors, fostering new partnerships, and ensuring local compliance. Prior to GBF, Noel was an Administrator at Career Connections Limited in Nairobi, Kenya working in various functions including administration, accounts, training, recruitment, and assessment. Noel graduated Cum Laude in 2010 from the University of Eastern Africa, Baraton with a BBA in Marketing, and in December 2013 she graduated with an MBA in Finance from the University of Nairobi. Noel is originally from Uganda, she moved to Kenya in 2006 to attend her undergraduate program and has been living in Kenya ever since. She is a native English and Luganda speaker, and has acquired Swahili. She enjoys cooking and baking, participating in social activities, making crafts and traveling.