Board of Advisors

Our board of advisors includes highly experienced investment professionals and financiers who have extensive emerging markets private equity experience.

Robert Binyon

Robert Binyon

Robert brings more than 40 years of Finance and Private Equity expertise to the board. He started his career in London with Morgan Grenfell in 1972, was appointed to the Board 1985 and led their Asian operations from 1986 to 1991. He then served as the joint CEO and Managing Director of Tokai Bank Europe from 1991 to 1994 before joining the CDC in 1994 to run the Financial Markets Department, responsible for investments and private equity funds. Robert also managed CDC’s operations in the Asia-Pacific Region until 2003. Since then, he has served as Chairman of Aureos SE Asia, Chairman of Lakeshore Capital Partners (SME focused PE fund) and Chairman of Khronos Advisory Limited. He has also held a number of non-executive Chairman and Directorship roles for Aureos and served as a Director of Schroder Asia-Pacific Fund until 2015. Robert graduated from Christ Church, University of Oxford.

DON DEVIVO

Don DeVivo

Don has spent more than three decades in investment and capital market industry. He was Managing Director at Zesiger Capital Group LLC, a New York-based investment advisory firm he co-owned which managed substantial client assets investing in the global emerging and frontier markets. He lived in Thailand for most of the 1980’s while working for the UN, advising Government Boards of Investment throughout Southeast Asia on FDI policies and capital market development. In 1990, he left the UN and co-founded several ventures in Vietnam, including Indochina Building Supplies Pte. Ltd. and Megastar Media, the leading multiplex cinema exhibitor and distributor in the country. He has also founded and been an active board member of several Venture Capital investments by Zesiger Capital over the past 20 years and has directly managed the full cycle of numerous venture investments in the US and Southeast Asia. Don holds a BA in Physics from Vassar College and a PhD in Philosophy from the University of Toronto.

Jo Yamagata

Jo Yamagata

Jo Yamagata is one of the most experienced infrastructure financiers in Asia and was most recently the Acting Director General of the Private Sector Operations Department, overseeing all private sector financing, including equity investments, debt and project financing. He has served as a Board member of several infrastructure companies as well as the ADB’s investee banks/companies. He was also Chair of Public Private Partnership (PPP) Community of Practice at ADB. Before joining ADB in 1994, he worked for Toshiba Corporation in Japan, where he was involved in development of various power and industrial projects both domestically and abroad. He holds a Master's degree in International Management and Finance from Sloan School of Management, MIT and graduated from School of Law, Seikei University, Japan.

Management Team

Our management team includes experienced investment professionals with complementary backgrounds

Rudolf Gildemeister, (Managing Partner)

Rudolf Gildemeister

Managing Partner

Rudolf is a Managing Partner at Golden Rock Capital. He has extensive experience in building and managing businesses across multiple industries, including on-the-ground operational experience in Myanmar where he was the sell side-advisor for the first US-Myanmar JV between a NYSE listed company and local group MMRD. He also served as CFO of the MMRD to oversee integration and change management. Before moving to Myanmar, Rudolf was based in HK for 10 years where he was Managing Director at Credit Suisse and Regional Head of Credit Suisse Advisory Partners. Earlier positions include Managing Partner of boutique advisory firm Active Equity Management, Managing Director of ODS Landis & Gyr (a portfolio company of Texas Pacific Group), and Business Development Manager at Nestle in HK and South-East Asia, including Myanmar. Rudolf holds MBA from Harvard Business School (1988) and BSc from Bristol University (1990).

Thura Soe Paing (Origination Partner)

Thura Soe Paing

Origination Partner

Thura joined GRC in 2014 and specializes in value addition to portfolio companies as well as deal flow generation. He co-founded All Myanmar Advisors in 2012, prior to which, he was a member of the team at Strategy613, a strategic advisory firm focusing on international corporates doing business in Asia, especially China and Thailand as well as Asian corporates seeking investment from international investors. Prior to Strategy613, Thura has worked for Boston Consulting Group and Citibank in London and across Europe. Thura holds a Masters in Management Science from Boston University and a BSc (Hons) in Economics from the London School of Economics

Steven Wood (Managing Director - Infrastructure)

Steven Wood

Managing Director - Infrastructure

Steve is global private equity and venture capital professional with proven operating experience in the engineering, infrastructure, energy and commodity investment sectors. He brings over 20 years of emerging markets experience and has broad subject matter expertise in infrastructure, energy and commodities from the operational to the executive board level. He was most recently Executive Director of Pacific Hunt Energy, an upstream Oil & Gas company with operations in Myanmar. Prior to this, Steve served as Chief Investment Offcer for Heritas Capital Management’s private equity/commodities funds and had helped establish CIMB-Standard Bank’s SEA focused Infrastructure PE Fund in 2007. He started his career with Steffen, Robertson & Kirsten in the US in 1986 and moved to South Africa with them in 1998 before joining Anglo American in South Africa in 1992. His then moved into finance as a Mining Analyst with HSBC and he was also Director (Acquisitions and Corporate Finance) of Century Mining Corporation in BC, Canada. Steve holds MBA from University of Chicago (Booth School) and a BSc in Geophysical Engineering from Colorado School of Mines.

Kyaw Htoo Naung (Investment Associate)

Kyaw Htoo Naung

Investment Associate

Kyaw joined Golden Rock Capital after he was based in Singapore for two years, working as investment analyst at a hedge fund called JL Capital. During this time he researched and analyzed deals across asset classes and sectors as diverse as industrials, consumer, technology, media, and transportation among others. Prior to JL Capital, Kyaw gained valuable work experience in research and consulting functions at Tractus Asia Pte Ltd, and 6 Sigma SMU GreenBelt Project. He has a Bachelor Degree from Singapore Management University in Business Management with Double Majors in Finance and Operations Management. Kyaw passed the Chartered Financial Analyst (CFA) Level III in August 2008

Marvin Yeo, CFA (Founding Partner)

Marvin Yeo CFA

Founding Partner

Marvin co-founded Golden Rock Capital in 2014. Prior to this, he was the founder and Managing Partner of Frontier Investment & Development Partners from 2008-2014 where he co-founded and launched the Mongolia Opportunities Fund and was an active dealmaker in the CLMV region. Previously, he was Senior Financing Specialist at the ADB from 2004-2008 and responsible for the ADB’s debt syndications activities and the structuring / pricing of private, corporate and infrastructure transactions throughout Asia. From 1996 – 2003, he worked in investment banking with Barclays Capital (London), Nomura (Hong Kong) and Deutsche Bank (Singapore), specializing in debt equity linked origination and syndication, and derivatives structuring and sales. Marvin has also been an F&B entrepreneur and taught Advanced Financial classes at the University of the Philippines. He holds MBA from INSEAD (2000), B.Eng with Honors from Monash University and CFA charter (2000).

Htu Htu Aung (Execution Partner)

Htu Htu Aung

Execution Partner

Htu Htu is involved in deal origination, evaluation, monitoring, and due diligence, with a specialization in deal structuring. Currently he serves as Non-Executive Director for several reputable Myanmar companies and is an Executive Committee member of the Myanmar Oil & Gas Services Society. Htu Htu has also served as Commercial Director for Asia Guiding Star Group as well as liaison partner for Cho & Associates, a member firm of Crowe Haworth International. Before returning to Myanmar, Htu Htu worked for 8 years in the UK for Anderson Ross Consulting Group, working up from Associate through Audit Manager to Partner and serving as the firm’s Chief Compliance Officer. Htu Htu received MBA from Oxford Brookes and BSc (Hons) in Applied Accounting, Oxford Brooks University, UK. He is also a fellow of the UK’s Association of Chartered Accountants (ACCA).

Daisuke Miki (Senior Associate)

Daisuke Miki

Senior Associate

Daisuke joined as Senior Associate after he moved to Myanmar in January 2016 to study Myanmar language full-time. He is responsible for deal origination and liaising with Japanese strategic investors in Myanmar and Japan. Previously, he spent four years in Aozora bank (formerly known as Nippon Credit Bank) in Japan, during which time he focused on Corporate Finance as a relationship manager to various Japanese Real Estate companies and Trading Houses.  He was also involved in ECA Project Financing and LBOs. Daisuke holds Bachelor of Business & Commerce from Keio University in Japan and spent a year at the University of Edinburgh as an Exchange Student.

Ei Mo Mo Yan (Investment Associate)

Ei Mo Mo Yan

Investment Associate

Ei Mo joined Golden Rock Capital from April 2015. Previously she was an Associate at KPMG Corporate Finance Pte Ltd (Singapore) for more than two years and had experience in M&A in various industries ranging from real estate, education, healthcare in Southeast Asia. She has also worked as Assurance intern at Ernst & Young LLP (Singapore) in 2012 where she was exposed to auditing capital fund, insurance and re-insurance company. She holds Bachelor of Accountancy from Singapore Management University and is a member of Institute of Singapore Chartered Accountants.

Rudolf Gildemeister, (Managing Partner)

Rudolf Gildemeister

Managing Partner

Rudolf is a Managing Partner at Golden Rock Capital. He has extensive experience in building and managing businesses across multiple industries, including on-the-ground operational experience in Myanmar where he was the sell side-advisor for the first US-Myanmar JV between a NYSE listed company and local group MMRD. He also served as CFO of the MMRD to oversee integration and change management. Before moving to Myanmar, Rudolf was based in HK for 10 years where he was Managing Director at Credit Suisse and Regional Head of Credit Suisse Advisory Partners. Earlier positions include Managing Partner of boutique advisory firm Active Equity Management, Managing Director of ODS Landis & Gyr (a portfolio company of Texas Pacific Group), and Business Development Manager at Nestle in HK and South-East Asia, including Myanmar. Rudolf holds MBA from Harvard Business School (1988) and BSc from Bristol University (1990).

Marvin Yeo, CFA (Founding Partner)

Marvin Yeo CFA

Founding Partner

Marvin co-founded Golden Rock Capital in 2014. Prior to this, he was the founder and Managing Partner of Frontier Investment & Development Partners from 2008-2014 where he co-founded and launched the Mongolia Opportunities Fund and was an active dealmaker in the CLMV region. Previously, he was Senior Financing Specialist at the ADB from 2004-2008 and responsible for the ADB’s debt syndications activities and the structuring / pricing of private, corporate and infrastructure transactions throughout Asia. From 1996 – 2003, he worked in investment banking with Barclays Capital (London), Nomura (Hong Kong) and Deutsche Bank (Singapore), specializing in debt equity linked origination and syndication, and derivatives structuring and sales. Marvin has also been an F&B entrepreneur and taught Advanced Financial classes at the University of the Philippines. He holds MBA from INSEAD (2000), B.Eng with Honors from Monash University and CFA charter (2000).

Thura Soe Paing (Origination Partner)

Thura Soe Paing

Origination Partner

Thura joined GRC in 2014 and specializes in value addition to portfolio companies as well as deal flow generation. He co-founded All Myanmar Advisors in 2012, prior to which, he was a member of the team at Strategy613, a strategic advisory firm focusing on international corporates doing business in Asia, especially China and Thailand as well as Asian corporates seeking investment from international investors. Prior to Strategy613, Thura has worked for Boston Consulting Group and Citibank in London and across Europe. Thura holds a Masters in Management Science from Boston University and a BSc (Hons) in Economics from the London School of Economics

Htu Htu Aung (Execution Partner)

Htu Htu Aung

Execution Partner

Htu Htu is involved in deal origination, evaluation, monitoring, and due diligence, with a specialization in deal structuring. Currently he serves as Non-Executive Director for several reputable Myanmar companies and is an Executive Committee member of the Myanmar Oil & Gas Services Society. Htu Htu has also served as Commercial Director for Asia Guiding Star Group as well as liaison partner for Cho & Associates, a member firm of Crowe Haworth International. Before returning to Myanmar, Htu Htu worked for 8 years in the UK for Anderson Ross Consulting Group, working up from Associate through Audit Manager to Partner and serving as the firm’s Chief Compliance Officer. Htu Htu received MBA from Oxford Brookes and BSc (Hons) in Applied Accounting, Oxford Brooks University, UK. He is also a fellow of the UK’s Association of Chartered Accountants (ACCA).

Steven Wood (Managing Director - Infrastructure)

Steven Wood

Managing Director - Infrastructure

Steve is global private equity and venture capital professional with proven operating experience in the engineering, infrastructure, energy and commodity investment sectors. He brings over 20 years of emerging markets experience and has broad subject matter expertise in infrastructure, energy and commodities from the operational to the executive board level. He was most recently Executive Director of Pacific Hunt Energy, an upstream Oil & Gas company with operations in Myanmar. Prior to this, Steve served as Chief Investment Offcer for Heritas Capital Management’s private equity/commodities funds and had helped establish CIMB-Standard Bank’s SEA focused Infrastructure PE Fund in 2007. He started his career with Steffen, Robertson & Kirsten in the US in 1986 and moved to South Africa with them in 1998 before joining Anglo American in South Africa in 1992. His then moved into finance as a Mining Analyst with HSBC and he was also Director (Acquisitions and Corporate Finance) of Century Mining Corporation in BC, Canada. Steve holds MBA from University of Chicago (Booth School) and a BSc in Geophysical Engineering from Colorado School of Mines.

Daisuke Miki (Senior Associate)

Daisuke Miki

Senior Associate

Daisuke joined as Senior Associate after he moved to Myanmar in January 2016 to study Myanmar language full-time. He is responsible for deal origination and liaising with Japanese strategic investors in Myanmar and Japan. Previously, he spent four years in Aozora bank (formerly known as Nippon Credit Bank) in Japan, during which time he focused on Corporate Finance as a relationship manager to various Japanese Real Estate companies and Trading Houses.  He was also involved in ECA Project Financing and LBOs. Daisuke holds Bachelor of Business & Commerce from Keio University in Japan and spent a year at the University of Edinburgh as an Exchange Student.

Kyaw Htoo Naung (Investment Associate)

Kyaw Htoo Naung

Investment Associate

Kyaw joined Golden Rock Capital after he was based in Singapore for two years, working as investment analyst at a hedge fund called JL Capital. During this time he researched and analyzed deals across asset classes and sectors as diverse as industrials, consumer, technology, media, and transportation among others. Prior to JL Capital, Kyaw gained valuable work experience in research and consulting functions at Tractus Asia Pte Ltd, and 6 Sigma SMU GreenBelt Project. He has a Bachelor Degree from Singapore Management University in Business Management with Double Majors in Finance and Operations Management. Kyaw passed the Chartered Financial Analyst (CFA) Level III in August 2008

Ei Mo Mo Yan (Investment Associate)

Ei Mo Mo Yan

Investment Associate

Ei Mo joined Golden Rock Capital from April 2015. Previously she was an Associate at KPMG Corporate Finance Pte Ltd (Singapore) for more than two years and had experience in M&A in various industries ranging from real estate, education, healthcare in Southeast Asia. She has also worked as Assurance intern at Ernst & Young LLP (Singapore) in 2012 where she was exposed to auditing capital fund, insurance and re-insurance company. She holds Bachelor of Accountancy from Singapore Management University and is a member of Institute of Singapore Chartered Accountants.