MICHAEL BARTH

FOUNDER & MANAGING PARTNER

Michael has over a decade of experience as an advisor, developer and investor in Bhutan. Since leading the initiative to create Bhutan’s first law school in 2008, he has enjoyed a long and close friendship with the country. Over the years Michael has been privileged to serve Bhutan in a number of capacities including as special advisor to the Royal Education Council, as advisor to Druk Holdings and Investments, and as consultant to the Bhutan Olympic Committee. As such, Michael has established strong relationships with Bhutan’s top leadership while contributing as a trusted colleague to a diverse range of significant development initiatives.

Drawing upon his unique experience in Bhutan and over twenty years of broader experience inspiring and leading change at the confluence of international development and investment with emphasis on social entrepreneurship, learning and technology, Michael founded GNH Partners and the Bhutan Fund to provide a greater platform for connecting capital and expertise with development priorities in Bhutan, and for sharing its more mindful approach to sustainable development with the wider world. Prior to GNHP, Michael was CEO of upublic, a pioneering strategy consulting firm based at Columbia University. At upublic, Michael provided visionary thought leadership to heads of governments and public-private sector partnerships on the feasibility, design and implementation of major education-based projects and investments around the world. He also founded and is the current chairman of The Explorers Club, Hong Kong Chapter.

Michael earned a BA from Clark University, MALA from St. John's College in Annapolis, and EdM from Columbia University. 



KINZANG TOBGAY

MANAGING DIRECTOR

Kinzang brings twenty years of leadership and local business experience to GNH Partners and the Bhutan Fund. As one of the first qualified CPAs in Bhutan, Kinzang has been in leadership positions in various public sector companies in Bhutan for the last 13 years. He has over 17 years of experience in the corporate and financial sector in Bhutan, and for the last two years he has been an entrepreneur, developing and managing his own businesses in the mining and construction sector.

Most recently, Kinzang was the Director of Finance for Druk Holding and Investments (DHI), Bhutan’s largest SOE that oversees the execution and management of all commercial investments of the government. During his time at DHI, Kinzang provided financial leadership to DHI and their 20+ portfolio companies covering all sectors of the economy. Kinzang spearheaded divestment of companies, capital sourcing for new projects and optimization of existing companies.

Kinzang has also served as CFO of Druk Green Power, and served on the Board of Directors for some of the largest companies in the country covering a wide range of sectors from hydropower to banking including Tangsibji Hydro Energy Limited, Drukair Corporation Limited, Bank of Bhutan, and Royal Insurance Corporation of Bhutan.

Kinzang is an Australian accredited CPA, earned a BA of Commerce from Sherubste College in Bhutan, and a BA of Business from University of South Australia.  



ELIZABETH NORWOOD

MANAGING DIRECTOR


Inspired by the vision of “Invest Impact Inspire”, Elizabeth focuses on expanding GNH Partners and the Bhutan Fund’s capacity for impact investment and development. In her role she works closely with GNHP's partners, investors and founder to develop opportunities that will allow the company to meet its mission of creating sustainable social businesses and positive change.

Elizabeth has over fifteen years experience in private investments, private equity, investment banking and related fields. Throughout her career she has demonstrated an ability to learn new industries quickly and to successfully apply her analytical skills across geographies, roles and investment styles. She particularly enjoys working with and investing in entrepreneurs to help them grow and transform their businesses.

Elizabeth co-founded and was Director of Whitecap Minerals Pty Ltd, a Sydney-based natural resources investment company. Prior to that she did private advisory work for entrepreneurs and was a Principal in a Private Investment Firm focused on financial services. Elizabeth began her career as an investment banker in the Leveraged Finance and Financial Sponsor Coverage Group at CIBC World Markets.

Elizabeth earned a BA from Williams College and MALA from St. John’s College in Annapolis.  



PASSANG DORJI

MANAGING DIRECTOR

Passang joins GNH Partners and the Bhutan Fund team with over fifteen years of corporate finance and management experience, and significant knowledge of Bhutan’s investment landscape. Passang was part of the core team selected to establish Druk Holding and Investments (DHI), the state holding company and largest investment entity in Bhutan that manages state-owned enterprises and new investments on behalf of the Royal Government of Bhutan. He last served as the Director of Investments, DHI, where he was heading business development, projects and private sector partnership and promotion. As the focal person representing DHI in policy formulation relating to economic development policies, he has taken part in investment promotions for Bhutan, including as part of the delegation of the Hon’ble Prime Minister of Bhutan to Gujarat, India and Bangkok. While at DHI he has spearheaded the establishment of pioneering projects such as the Thimphu TechPark, the first IT Park in Bhutan based on a successful Public Private Partnership (PPP) model, and establishment of the State Mining Corporation with the mandate to carry out mining on behalf of the government, amongst others.

Prior to DHI, Passang worked in Bhutan Power Corporation, the only electricity utility company of Bhutan where he last served as Company Secretary and was also responsible for the company’s corporate planning across Bhutan. Passang has also served as Board Director on prominent corporations in several sectors, including, the Bank of Bhutan, Druk Air Corporation, Bhutan Telecom, State Trading Corporation of Bhutan, and as Chairman of the Board for Thimphu Tech Park.

Passang earned a BE in Civil Engineering from Thammasat University in Thailand, a PG Diploma in Management Information Systems from the Maastricht School of Management, Netherlands and a MBA from the Asian Institute of Management in the Philippines.