Our Values

Balhara/Bulgara/Bactria means "the possessor of strength".

The Kingdom of Balhara/Bulgara/Bactria in Pamir and Hindukush was the first Bulgarian State X century BC to III century AD, with a capital Balh/Bactra.

It was as strong, rationally organised, sophisticated and innovative empire. The Silk Road passed through its heart bringing knowledge and wealth from East and West. It had clear rules, strong state organisation and flourished with prosperity and wisdom.

The Bulgarians brought this strength and knowledge in the five states they subsequently created on their way to Europe, before they settled on the Balkan peninsula - named after Balh.

This is the spirit we cultivate at Balhara Capital.

We believe that strong and wise personality, superior knowledge and superior network is the key to success.

Leaders

Gergana Koleva, PhD
Managing Director

Gergana founded Balhara Capital to originate investments in the renewable energy sector, capitalising on her experience and network in fund management:

• Investment & Strategy team Aberdeen Property Investors Denmark
• PhD in Management of Technological Innovation, Copenhagen Business School
• MBA, Universität zu Köln, Germany

She is based in Stockholm and speaks most European languages.

Lars Almqvist
Investment Manager

Lars has 20 years experience from working in private equity and European property markets.

He has strategic responsibility, is based in Stockholm and speaks Swedish, English and German. 

Veneta Alexandrova
Investment Manager

Veneta has deep knowledge of the Swedish and international cleantech industry and policy frameworks. She has experience in developing and applying successful business models and strategy. 

She has the responsibility for deal origination and client relationships. She is based in Stockholm and speaks Swedish, English, French and Bulgarian.

Prof. Jan Mouritsen
Advisor

Jan Mouritsen is Professor at the Copenhagen Business School and Head of the Department of Operations Management. Jan has an advisory role at Balhara and and is in a unique position to advice Balhara’s clients on policy making and technology management in the rapidly transforming energy sector.