In 1996, Shimoda Capital worked with the EBRD and the British Know-How Fund to re-structure the mutual
fund industry after significant negative NAV adjustments caused the suspension of most publicly offered
funds. In conjunction with the Bucharest Stock Exchange, Shimoda proposed transforming one fund, Certinvest,
into a closed-ended fund with 2 market makers to list and provide liquidity to investors. Unfortunately,
with impending elections, the government and securities commission could not agree on an action plan and nothing
was implemented. Certinvest, however, was re-structured and is now a successful family of funds.
Following the collapse of Russian debt in August 1998, Shimoda worked with the National Bank of Romania and Anglo-Romanian Bank in London to buy-back high-yielding Romanian Government Eurobonds and thus retire national debt cheaply. By strengthening the country's reserves, Romania was able to issue Eurobonds in late 1999 at a favourable coupon interest rate.
In the 2000's Shimoda was an active investor in the Romanian refineries and cement industries, as well as investing in oil reserves near Timisoara.
Shimoda is currently launching a Luxembourg-based fund platform to invest in various attractive business sectors in Romania.