Born in 1974, after graduating and completing his specialization he moved to Russia at the end of the 1990s to work for the European Bank for Reconstruction and Development (EBRD) and has worked continuously in Eastern Europe and Central Asia markets from that time onwards. He directed development initiatives on behalf of important private banks and industrial groups for eight years.

He gained official recognition as the initiator of some of the most important projects for small and medium-sized businesses in Moldova, Tajikistan, Kazakhstan and other countries. He founded General Invest in 2007 and in 2008 Mikro Kapital, a micro-finance fund for financing small businesses in the regions that has established itself as one of the most successful such initiatives at a European level.

Born in 1971, Etienne completed his secondary schooling at the Lycée Technique d’Esch-sur-Alzette before studying at the ICHEC Brussels Management School and at the University of Greenwich in London, where he graduated in business and finance in 1995.

Etienne joined the Socialist Party in 1991 and was elected municipal councillor in Kayl, Luxembourg in 1995. He then became secretary general of the Socialist parliamentary group from 1997 to 2004 before taking up his duties at the Ministry of the Economy.

He has been a member of the executive board of several companies, such as Société électrique de l’Our (SEO), Enovos International SA, Enovos Deutschland AG and National Credit and Investment Company (SNCI). Upon being appointed minister in 2012 he resigned from all these positions.

In 2013 he headed the LSAP list and became Deputy Prime Minister of the Bettel government, retaining the Ministry of Economy and also being assigned the Ministry of Internal Security and Defense.

After the 2018 elections he remained Deputy Prime Minister and Minister of Economy. He was appointed Minister of Health.

In February 2020 he resigned from his position and left politics. He then created Beta Aquarii, specialized in economic consulting, and joined the boards of ArcelorMittal, LuxTP as chairman, Besix and Sistema. He is also an independent director of Jan de Nul Group.

He became a member of the Supervisory board of Mikro Kapital Management S.A. in January 2022.

Johannes Feist is a development finance expert, experienced with mergers & acquisitions and restructurings, and with commercial, governmental and not for profit business models. He has deep knowledge of the functions of development finance institutions (DFIs), of MSME and rural financial services industries, and of investment fund regulations in Luxemburg, Germany and Mauritius.

He obtained a PhD and Diploma (MSc) in International Economics from University of Munich (Germany). He started his career at the EU Commission and European Centre of International Security (EUCIS), then became Assistant Lecturer at University of Munich. In 1999 he joined KFW Development Bank as Senior Project Manager. In the following 20 years in KFW, Mr. Feist covered different managerial and international roles, among them: Resident Director in Pristina and Belgrade, Vice President for European Financial Institutions (Berlin), Vice President for Corporate Strategy (Frankfurt).

Since 2015 he was Head of Division Financial Systems Development Southern Africa and Regional Funds, essentially KFW’s equity team. In 2020 Mr. Feist left KFW and founded his own company, JF Investment Advisory, supporting clients in the public (DFIs, International Organizations) and private / corporate space. He is member of Advisory Committee of DWM Displaced Communities Fund. In September 2022 he was appointed Chief Executive Officer of Mikro Kapital Management S.A.

Mr. Mattioda holds a Master’s degree in Automotive Engineering earned at Turin Polytechnic. He started his career in the automotive field in FCA and Bosch. He was involved in startup projects for sustainable mobility at the university, as a project manager. Later he moved to General Invest in Zürich, part of Mikro Kapital group, to support the Swiss Asset Manager focusing on HNWI investors for wealth planning through the use of various financial investment strategies and as well on institutional investors for due diligence on Mikro Kapital Group.

Following the development of Mikro Kapital group he moved to the headquarters in Luxembourg in 2020 as investor relations manager, coordinating all funding opportunities. In 2022 he was appointed a member of the Management board.

Valeria Elfimova has over 20 years of extensive in-house counsel and law firm experience in wide variety of disciplines, showcasing a robust and progressive career marked by adeptness, excellent analytical and strategic problem-solving skills, and rich experience in various legal domains.
She has considerable experience in M&A, private equity, turnarounds, transaction support, structuring of investment projects, consulting on various issues related to corporate, civil, contract, antimonopoly, intellectual property as well as deep knowledge of sanctions regulation, corporate governance, regulatory and compliance procedures.
Valeria boasts successful setting up and legal support of the Companies’ activity in Argentina, Venezuela, Saudi Arabia, Romania, Serbia, Algeria, Nicaragua, Singapore, Cyprus, BVI, etc.
She holds a Master’s in Law Degree from the International Law Institute at the Russian Ministry of Justice and Master’s in Linguistics from Orel State University.
Throughout her career, Valeria has navigated prominent legal and general management roles at oil&gas, investment and one of the Big 4 companies. In 2021, she assumed the role of Head of Legal at Mikro Kapital, and by 2023, she was appointed Chief Legal Officer and became a board member. Her achievements underscore her continuous advancement and leadership in the legal field.

Thomas Heinig is a development finance expert, experienced in the implementation of complex fund structures and specialised in Local Currency and Guarantee vehicles. He has a deep understanding of different challenges in emerging and frontier market especially in the financial sector and has longstanding experience in the cooperation with ministries and development finance institutions (DFI).

He obtained a Diploma (MSc) in Business Administration from the University of Goettingen and studied at the University of Lisboa (UTL). He started his career as a credit analyst at a regional DFI in Germany, and worked at a risk management department of a commercial bank. He joined KfW in 2010 and as Senior Risk Manager. As of 2013 he moved to the team of Financial Systems Development Southern Africa and Regional Funds, essentially KFW’s equity team and was since 2015 the Deputy Head of the team. In 2020 he joined EDFI MC in Brussels as the Head of Risk being in charge of Risk Management (incl. Pillar Assessment), Internal Audit and Compliance.

In February 2023 he was appointed Chief Risk Officer of Mikro Kapital Management S.A.

Nicola Ragusa is a knowledgeable financial manager, with over 25 years of experience in the field of tax and accounting, and an outstanding successful track record improving enterprises’ financial performance through skilled alignment of tax & accounting practices with corporate business goals. He is also an IFRS specialist, reputable for identifying and implementing effective accounting solutions for complex financial operations.

He graduated in Economics at the State University of Rome (Italy). He started his career as auditor at Coopers & Lybrand (now PwC), then worked in several Investment Funds and Financial Institutions in Italy as Chief Accountant. From 2006 till 2014, Nicola Ragusa is Deputy Director of the Italian branch of the French-Belgian banking Group Dexia. In 2014 he assumed the role of Tax & Accounting Director in Carnelutti Russia Law Firm. In 2020, he joined Mikro Kapital and, in November 2022, Nicola Ragusa has been appointed as Group CFO. He is member of the Board of Executive directors since July 2023.