MK Global Kapital Sàrl will take over management of ALTERNATIVE, the Luxembourg-based securitisation fund, on 1 January 2026, marking a milestone in the Fund’s evolution since operations began in 2015. The establishment of a dedicated management company reflects ALTERNATIVE’s growth from €4.5 million to more than €550 million in assets under management over the past decade.
The ‘Global’ designation reflects ALTERNATIVE’s expansion beyond its traditional regions of Europe, Caucasus and Central Asia, with Vietnam representing the Fund’s first portfolio company outside these established markets.
Harmonised brand architecture
The transfer of the management from Mikro Kapital Management S.A. (“MKM S.A.”) to MK Global Kapital Sàrl (“MK Global Kapital”) completes the brand harmonisation that began in July 2025 and brought ALTERNATIVE and its portfolio companies together under one unified brand identity.
The unified brand architecture creates clarity for all stakeholders:
- MK Global Kapital serves as the management company of ALTERNATIVE;
- ALTERNATIVE remains the Luxembourg-based securitisation fund;
- MK Kredit represents the lending companies within ALTERNATIVE’s portfolio;
- MK Leasing represents the leasing providers;
- Anytime and D-Mobility represents the carsharing and mobility providers.
Creation of a separate management company fully dedicated to ALTERNATIVE will allow to concentrate on further growth and development of the Fund in alternative financing solutions, whilst maintaining the proven securitisation model that has successfully connected investors with micro, small, and medium-sized enterprises (“MSMEs”) across emerging markets for over a decade.
Continuity and clarity for investors
The investment objective, investment strategy and structure of ALTERNATIVE remain unchanged. The transition to MK Global Kapital as management company represents growth evolution rather than strategic shift, ensuring seamless continuation of the approach that has delivered consistent results.
Johannes Feist, previously Chief Executive Officer of MKM S.A. and now CEO of MK Global Kapital, says:
“With MK Global Kapital, we are bringing ALTERNATIVE and its portfolio companies together under one recognisable brand. This makes it easier for investors and other stakeholders to see in which markets we are active and which types of businesses we support. At the same time, we are laying the groundwork to give more companies in more markets access to capital in the years ahead.”
Listed bonds and structural evolution
The decision to establish a dedicated management company reflects ALTERNATIVE’s maturation from a focused regional player into a global fund. ALTERNATIVE’s Euro Medium Term Note (“EMTN”) bond programme is listed on the Luxembourg Stock Exchange, providing investors with access to impact-driven financing solutions across emerging markets.
ALTERNATIVE’s expansion across Asia and other high-growth regions necessitated a dedicated management structure to support continued scaling whilst maintaining operational excellence and regulatory standards.
Core approach and future expansion
Whilst the management company evolves, ALTERNATIVE’s fundamental approach continues. The Fund maintains its commitment to impact-driven finance that bridges the gap between capital-seeking entrepreneurs and investors seeking both financial returns and measurable social impact. Local experts continue providing constant monitoring and support to entrepreneurs, creating a hands-on approach that minimises risk whilst optimising returns for investors.
The comprehensive investment approach centres on providing investors access to the securitisation Fund that finances MSMEs across emerging markets. The model offers visibility from capital deployment through to material socioeconomic impact – all aligned with environmental-, social and governance (ESG) principles and the United Nations’ Sustainable Development Goals.
Future growth plans include expansion into East Asia through the new mobility company, D-Mobility Vietnam, within ALTERNATIVE’s portfolio, alongside continued scaling across existing markets in Europe, Asia and other high-growth regions. Future growth is supported by broadening investor interest from beyond Europe, as global investors increasingly seek transparent access to impact-driven opportunities in emerging markets.
Johannes Feist, CEO of MK Global Kapital, says:
“We are not just facilitating transactions. We are building bridges between potential and possibility. Every investment through ALTERNATIVE represents a direct connection between global capital and local entrepreneurial ambition, delivering value beyond conventional financial returns.”
The establishment of MK Global Kapital marks the beginning of ALTERNATIVE’s second decade of operations, combining a proven track record with enhanced organisational structure to support the next phase of growth in transparent, impactful alternative finance.
About ALTERNATIVE portfolio companies: ALTERNATIVE portfolio companies connect investors with high-impact opportunities across emerging markets worldwide. By combining traditional alternative finance with blockchain innovation, ALTERNATIVE portfolio companies provide entrepreneurs with flexible financing solutions whilst offering investors visibility into their impact. ALTERNATIVE portfolio companies’ mission is to unlock potential, nurture entrepreneurial aspirations, and connect ambition with investment through innovative financial technology. For more information, please visit: www.mikrokapital.com. For media inquiries and interview opportunities, please contact [email protected].
