Thea Jokhadze, CFA. Founder, Jokhadze Capital.
I have spent 25 years making investment decisions and building the financial structures that frontier markets require.
My track record is defined by the quality of judgment in situations where the conditions are hard, the parties are complex and the cost of getting it wrong extends well beyond the deal itself. When a situation is complex and the stakes are high, credentials and process only take you so far. What matters is judgement – the ability to read a situation correctly, make the call, and be accountable for the outcome.
BOARD & ADVISORY
I currently serve as Chairperson of the Board of the Georgian Stock Exchange, having served as a member of its Supervisory Board since 2022.
Previously I served as Chairman of the Supervisory Board of both the Georgian Central Securities Depository and the Tbilisi Stock Exchange, and as a member of the Supervisory Board of Cartu Bank.
These roles reflect a consistent thread in my work: active involvement in building and governing the institutions that capital markets depend on.
CAPITAL MARKETS
At Bank of Georgia, I led the raising of $2 billion across eight years, within a total programme of $2.3 billion.
That record includes Georgia's first Eurobond, the bank's listing on the LSE main market, and a $240 million emergency financing package drawn from IFC, EBRD and OPIC, while Georgia was simultaneously navigating war, global financial crisis and currency devaluation.
When I joined, external funding represented 7% of the bank’s liabilities. When I left, it was 45%, the bank held 37% of the Georgian market and it was the country’s largest bank.
PRIVATE EQUITY & INSTITUTION BUILDING
I joined the Georgian Co-Investment Fund on its first day of operation, with no team, no process and no existing structure.
Over eleven years, I helped build it into Georgia's largest private equity fund at $1.5 billion AUM, designed its international fund structure, led its most significant transactions, and took an active role in shaping the investment fund legislation that governs the Georgian market today.
The portfolio spanned energy, real estate, manufacturing, agriculture, financial institutions, and technology.
I held full responsibility for investment oversight, risk, compliance, and governance and served as an active supervisory board member across portfolio companies throughout.
HOW I WORK
This level of judgment comes from 25 years of doing exactly that: raising capital in crisis conditions, making investment decisions across frontier markets, building institutions from nothing, and governing them once built. I have been on every side of these decisions, with real responsibility and real consequences each time.
I am selectively available for board and advisory roles where that combination of experience is genuinely rare.
Track Record
Four transaction examples: Each one different in sector, structure and conditions.
Together they represent the range of work I have done and the standard I hold myself to.