Team

Avi Dwipayana

Founder

Avi Dwipayana is the Founder of Dwipayana Capital Group, bringing over two decades of distinguished experience in Indonesia's capital markets. Avi previously served as Co-Founder and CEO of Trimegah Sekuritas, one of Indonesia’s leading securities firms, for 20 years. Additionally, he held strategic roles as Commissioner at both the Jakarta and Surabaya Stock Exchanges, significantly contributing to the development of Indonesia's financial market infrastructure.

Among his notable transactions, Avi successfully led the strategic acquisition and turnaround of PT Multistrada Arah Sarana Tbk (MASA), acquiring the company in 2004 from a national restructuring agency. Under his leadership, MASA launched the highly successful Achilles tire brand, significantly expanding its domestic and international market presence. After 16 years of growth and brand-building, Avi and his team facilitated the sale of an ~80% stake to Michelin, a global leader in tire manufacturing, in a landmark deal valued at over USD 400 million.

Avi Dwipayana

Felix Nah

Director

Felix Nah is a seasoned investment banker with extensive experience in private equity and strategic transactions. Prior to joining Dwipayana Capital Group, Felix worked with a prominent Japanese private equity firm—a joint venture between Mizuho and Daiwa—and collaborated closely with leading conglomerate families across sectors including energy, resources & minerals, and real estate.

Felix played a critical role in numerous significant transactions, notably leading financial modeling, execution, and strategy development for two luxury residential apartment projects under Setiabudi Group. Additionally, he was instrumental in a landmark acquisition deal in 2010, where a consortium acquired a major Indonesian mining services company for approximately USD 250 million, including debt assumption. His responsibilities included structuring complex financing arrangements with leading financial institutions.

By 2011, Felix successfully executed the divestment of this company to a consortium of private equity investors and a sovereign wealth fund through an innovative reverse takeover (RTO), ultimately securing full value realization for stakeholders involved.

Felix Nah

Karina Dwipayana

Executive

Graduated with a BA (Honours) in English Literature, Creative Writing and Practice degree from Lancaster University in England, Karina Dwipayana is a multidisciplinary creative with a deep passion for giving voice to the voiceless. Since the age of 14, she has believed in the infinite imaginations of self-acceptance to unique embracement—a philosophy that traces continuities across her works today.

Karina has written and published over 30 various articles for The Jakarta Post, where she also transcribed and translated transcripts, narrated documentaries, and moderated the JakPost Up Close talk shows, hosting esteemed panelists and thought leaders. Her work often seeks to bring visibility to the invisible and unveil empathy through different mediums of expression. She recently published her debut short story, “Mirrors of Infinite and a Day”, with Library Cats Publishing House — alongside young writers across the UK and Europe in a compilation of short-stories book titled, “Contemporary Subjects”. The piece deconstructs traditional portrayals of motherhood which reflects her continued exploration of the mystical realm bleeding with one’s layered identities, emotional heritage, and beyond. Karina is currently working on her second book.

Diving into the world of Investment Banking, Karina is learning to develop her own creative division—a visionary space dedicated to nurturing creative companies and works. Through this, she aims to build a future where art and business co-exist to forever intertwine the beauty of human essence in this rapidly growing technological living.

Karina Dwipayana

Geraldi Pranata

Associate Director

Geraldi Pranata brings a robust educational background and practical experience in finance and real estate investment to Dwipayana Capital Group. He earned his undergraduate degree from Babson College and holds a Master of Finance degree from Boston College.

Geraldi previously served as an Equity Research Summer Analyst at Schroders, specializing in technology sector coverage. He delivered a compelling internal SELL pitch on GOTO post-IPO, supported by rigorous analysis including a detailed DCF model, trading comps, and market insights.

Additionally, Geraldi gained extensive hands-on investment experience through his role as an Investment Analyst at Pranata Bumi Hijau, a family office managing diversified real estate portfolios in Indonesia. There, he successfully navigated complex negotiations, notably resolving a joint venture deadlock leading to the development of a 20-hectare industrial site. Geraldi also structured an owner-financed land sale and secured strategic off-market acquisitions, enhancing portfolio value.

Geraldi Pranata