Team

Christopher B. Beselin Founding Partner

Mr. Beselin founded Endurance Capital in 2014. From 2008 to 2011, he was on the investment team of Europe's largest active ownership fund, Cevian Capital.

Since 2012, Mr. Beselin resides in Vietnam where he has co-founded and as CEO built the country's largest e-commerce company from scratch to over 500 employees (invested by Temasek, Rocket Internet, Kinnevik, et. al.). The Lazada Group was sold to Ali Baba Group (BABA.US), valued at 3.2bnUSD, rendering a >20x return on investment for early stage investors. Mr. Beselin is Chairman of Fram Skandinavien, the first Vietnamese company to ever list on Nasdaq (IPO on Nasdaq First North in 2017) and has also co-founded Intrepid Group (sold to Ascential PLC - a top 15 largest tech exits ever in Southeast Asia).

Mr. Beselin was previously on the board of one of Vietnam’s leading securities brokers & merchant bank, VNDirect (publ). Mr. Beselin was CEO of a baby products retailer in Scandinavia and has been on the board of the private Scandinavian textile company, Back on Track (with operations in over 20 countries) for over a decade. Mr. Beselin is currently on the boards of Intrepid and Nordstjernan Growth.

Mr. Beselin holds a Master's degree in Finance from the Stockholm School of Economics, including MBA courses at the Tsinghua University, Beijing China.

Mr. Beselin is a devoted long distance runner and has completed full Marathons in Beijing, Munich and Oslo.

Johan De Geer
Founding Partner

Mr. De Geer has 20 years’ of executive management experience in emerging markets and is a co-founder of Endurance Capital.

Since 2012, Mr. De Geer resides in Vietnam where he has been the Managing Director of Oriflame – one of the country’s most known consumer brands with a country-spanning sales network including tens of thousands of independent distributors. Previous emerging markets experience include C-Level, Sales and Marketing and Country Management positions in the Baltics and in the Ukraine.

From 2007 to 2009 Mr. De Geer worked with The Boston Consulting Group in Stockholm as a management consultant on strategy projects within areas such as M&A, Due Diligence, Organizational Development, Corporate Governance and Growth Acceleration.

During three years in the Swedish Armed forces Mr. De Geer became a graduate of merit from the Nordic Combat School where he received an extensive and practical leadership education to become a 2nd Lieutenant in the Swedish Mechanized Infantry Reserves. He also holds a Master's degree in Marketing and Finance from the Stockholm School of Economics, and a minor in international business from St. Petersburg State University.

Mr. De Geer is a passionate telemark skier and language practitioner. He has learned to speak 6 languages including basic Vietnamese.

Minh Tran
Managing Partner

Mr. Minh Tran has joined Endurance Capital as Managing Partner in 2018. He has extensive experience in both buy-side and sell-side advisory involving landmark deals in Vietnam such as equitization for one of the largest state-owned banks, international listing for the largest dairy company, divestment of Vietnam’s property asset for one of the largest Korean Chaebols, private placement for one of the largest F&B groups, and issuance of the first ever listed convertible bonds in Vietnam.

Prior to joining us, as Head of Investment Banking, he has built the Investment Banking business for VNDIRECT, one of the top 4 brokers, brought in almost US$2.5MM in fees serving key clients such as VinGroup, Mekong Capital, CJ Freshway, Red River Holdings etc.

From 2011 to 2014, he held various senior positions with Ernst & Young and Ho Chi Minh Securities Corporation where he was involved mainly in merger and acquisition activities on the sell-side.

From 2007 to 2010, Mr. Minh was an investment banker with J.P. Morgan Investment Bank where he worked closely with the top Vietnamese and foreign companies in Vietnam to raise capital through equitization, international listing, private placement, and mezzanine financing. He was also a Certified Analyst publishing research on Vietnam.

He started his career with Dragon Capital Group, the oldest and one of the largest funds in Vietnam.

Mr. Tran has a Bachelor of Business Administration degree majoring in Finance from Baylor University, Waco, Texas, USA.

Hoa Trung Nguyen
Partner

Mr. Hoa has approximately a decade experience in investment research and advisory, investment management as well as corporate finance. He has been a member of the Endurance Capital investment committee since foundation.

Mr. Hoa also holds the role as Finance Manager at Vietnam Dairy Product JSC (Vinamilk), one of Vietnam’s largest consumer brands and the largest listed company in Vietnam (7bnUSD market cap).

Previously, Mr. Hoa was part of the investment team of VinaCapital, one of the largest fund managers in Vietnam with AUM of over $1bn and deputy head of research at Maybank Kim Eng Securities (Vietnam), a member of Malaysia-based Maybank Group – the top 5 largest banking groups in ASEAN.

Mr. Hoa holds a Master’s degree in Financial Analysis from La Trobe University, Australia.

Huong Nguyen
Senior Investment Associate

Ms. Huong Nguyen is Vietnamese and has been working in Vietnam’s finance market for >10 years.

Prior to Endurance Capital, she worked at Investment Banking Department of Maybank Kimeng Securities, VNDIRECT Securities Corporation and Viet Capital Securities Corporation. Ms. Huong also spent one year at Maj Invest Vietnam, a private equity fund, as an Investment Analyst.

Ms. Huong Nguyen holds a Bachelor degree in Finance - Banking from the University of Economics Ho Chi Minh City (Vietnam) and an MBA degree from Audencia Business School (France). She is a CFA charter holder.

Linh Tran
Investment Associate

Ms Linh is Vietnamese and has extensive experience from analysing and working with public companies in Vietnam.

Prior to Endurance Capital, Ms. Linh worked as an Investment Banking Analyst at VNDIRECT Securities Corporation during 2016 – 2018.

She holds a Master Degree in Financial Management from Vlerick Business School (Belgium) and a Bachelor Degree in International Business (majored in Finance) from Haaga-Helia University of Applied Sciences (Finland). She passed Level III of CFA Program in 2021.

Jonas Mårtenson
Senior Advisor

Jonas Martenson, Senior Advisor, has an international finance background and has lived in Switzerland, Belgium and the United Kingdom. In Switzerland he worked with OTC derivatives and then moved to Brussels to work in fund management. In 1996 he moved to London and spent ten years working at Schroders and Merrill Lynch focusing on selling OTC derivatives and structuring derivative products to European institutional investors.

Prior to moving back to Sweden he was Head of Derivative Sales at Hypovereinsbank. In 2006 Jonas founded Ress Capital AB, a regulated alternative investment fund manager with a focus on Insurance-Linked Securities. Currently, he is working with sales and marketing strategy at Ress. Jonas holds a M.Sc. in International Economics from the Gothenburg School of Economics. He is married with three children and lives outside Stockholm.

Johan Liljefors
Senior Advisor

Johan Liljefors has extensive experience in Global Macro funds, having joined COMAC Capital at inception as a Partner along with Colm O’Shea (2004-2014). Prior to COMAC, Mr. Liljefors worked at Soros Fund Management where he was the Risk Manager for Macro in the Quantum Fund. Johan brings 15 years of experience in Risk, Portfolio management and trading within a Global Macro context as well as building and establishing a highly successful hedge fund business. Mr. Liljefors received a MSc in Financial Mathematics at New York University (2002), a MSc in Engineering Physics from the Swedish Royal Institute of Technology (2001), and a MSc in Engineering from École Centrale Paris (2000).

Since COMAC Capital Mr. Liljefors has been operating his own family office in London (2015-present).