Private Capital for Values Driven Firms

Luke Roush co-founded Sovereign’s Capital in 2012, and is a Managing Partner for the firm. While living in Kuala Lumpur and Jakarta from 2013-2016, he opened the fund’s operations in Asia. Prior to Sovereign’s Capital, Luke had twelve years of experience in global commercialization and business development at venture-backed and Fortune 500 companies. He was Vice President for Sales, Marketing, and Business Development at TransEnterix (NYSE:TRXC), a medical device company that developed and commercialized a minimally invasive surgical system in the US, Europe, and Asia. Previously, he served as Chief Operating Officer at Liquidia Technologies (NSDQ:LQDA), a nanotechnology company focused on biopharmaceutical applications. Earlier in his career, Luke held sales and marketing roles of increasing responsibility at Boston Scientific and Newell Brands. He also co-founded 410 Medical, a medical device company focused on pediatric emergency care. Luke currently serves on the board of directors for Bandwidth (NSDQ:BAND). He graduated summa cum laude from Duke University, and later earned his MBA from The Fuqua School of Business. Luke resides in Nashville, Tennessee with his wife, Brooke, and their three children.

John Coleman is Managing Partner of Sovereign’s Capital.

Previously, John held a variety of leadership positions at Invesco, Ltd., including Head of Invesco Private Capital Partners, COO of Private Markets, CAO of Global Institutional Client, and global Head of Strategy and Business Planning.

Other past professional experience includes positions in energy arbitrage, consulting, asset management, and housing and community development with McKinsey & Company, Bridgewater Associates, and the Housing Partnership Network. He has a passion for education and has served on a number of boards related to both K-12 and higher education.

John is a frequent writer and public speaker, with a recurring series of articles at Forbes and HBR, and he has previously published two books. His third book, The HBR Guide to Crafting Your Purpose, will be published in January of 2022.

John is a summa cum laude graduate of Berry College, a graduate with High Distinction from the Harvard Business School where he was a Dean’s Award winner and Class Day Speaker, and a graduate of the Harvard Kennedy School where he was both a Zuckerman and a George Fellow. He lives in Atlanta with his wife, Jackie, and their four children.

Henry Kaestner is a co-founder and partner of Sovereigns Capital, an investment fund that invests in the United States and Asia.  Previously, Henry was the Co-Founder and previous CEO, and then Chairman of Bandwidth.com (NASDAQ:BAND), along with Republic Wireless he grew with his best friend and business partner, David Morken. The values of Bandwidth have always been: Faith, Family, Work and Fitness (in that order). Bandwidth was the 4th fastest growing privately held company in the country from 2003 through 2007, a position it achieved without acquisition or institutional funding. Prior to co-founding Bandwidth, Mr. Kaestner founded Chapel Hill Brokers (a predecessor to ICAP Energy), an institutional energy derivatives broker that became the top ranked electricity broker in the country. Mr. Kaestner has also been involved in a number of ministry and philanthropic activities. He co-founded Faith Driven Entrepreneur, Faith Driven Investor, and DurhamCares. Additionally, Henry serves as an elder in the Presbyterian Church of America, serves on various ministry and business boards along with the board of Valley Christian Schools in San Jose. Henry lives in Los Gatos, CA with his wife Kimberley and their three sons.

Jake has 16 years of experience in operations and advisory roles spanning from start-ups to public companies. As AVP of Bank of Hawaii, Jake oversaw sales, operations, customer engagement, and marketing for a regional team, with a focus on providing advice and growth capital to local entrepreneurs. He spent four years as an independent consultant, delivering strategy and operations advisory services to start-ups and small companies in the U.S. and Africa. Clients included a distributed solar energy company in Tanzania, a technology commercialization firm in North Carolina, and an innovative credit union with offices across the U.S. As Lead Associate in the Strategic Innovation Group of consulting firm Booz Allen Hamilton, Jake launched and managed a SaaS cybersecurity risk product for large IT organizations, and led business development for energy offerings in Jakarta, Indonesia. He also helped to stand up the Internet of Things (IoT) division, which develops and delivers IoT products and services to Fortune 100 clients. Jake serves as a Partner at Sovereigns Capital. He lives in Durham, NC, with his wife Lauren and twin children Blaise and Vivian. He serves on the boards of Little Lights Urban Ministries and Trinity Fellows Academy. Jake graduated magna cum laude in Economics from Pomona College, and later earned an MBA from The Fuqua School of Business and an MPP in international development from the Sanford School of Public Policy.

Michael Tremain is a Partner at Sovereign’s Capital where he concentrates on investment sourcing and portfolio management with a focus on lower middle market opportunities. His career includes stints with TrinRock Capital, Andersen Consulting, the Walt Disney Company, Hard Rock Cafe International and he has led a number of privately held companies in the technology, wholesale distribution, oil & gas, healthcare,  residential construction and commercial services sectors.

Michael earned his BS in economics from the University of North Carolina at Chapel Hill and his MS in International Political Economy from the London School of Economics.  He and his wife, Kristin, and four children live in Lookout Mountain, Georgia and attend Rock Creek Fellowship. Michael is a member of C-12 Group and the CEO Forum and also serves on the board of directors of the New Canaan Society.

Mr. Sutantyo is a natural problem solver, well balanced in analytical skills as well as relationship and consensus building. Raised in Jakarta till his late teen years, he then lived in the US for 15 years, developing an understanding of life in both countries. Kevin received a Bachelors of Science in Mechanical Engineering from UC San Diego in 2002 and immediately worked in a related field with the Northrop Grumman Corporation. He then ran a small biotech manufacturing and distribution enterprise in Phoenix, AZ and Milwaukee, WI for 5 years till he returned to Indonesia in 2010. Kevin has been active in Angel investments in both Indonesia and Silicon Valley since 2009, giving him experience in early stage companies and the different nuances of investing in the different regions. He is engaged in multiple mentoring programs, school development projects and other non-profit related activities. Kevin is actively involved in various ministries in International English Service church in Jakarta, most recently finishing a term as a deacon. Kevin and his wife, Nathalia, live in Jakarta with their children, Caleb and Thalia.

David Tjokrorahardjo is a business leadership coach, a communicator of ideas, a multi-national entrepreneur, and an investor. Born and raised in Medan, North Sumatra, David is the third child of Soetekdjo Tjokrorahardjo and Lanny Riady. At an early age, David established a few business operations. His early works included Bengkel Cakra and Global Mandarin Centerindo, which were sold in 2005. He then pursued his Bachelor degree at Stevens Institute of Technology in Hoboken, New Jersey majoring in Business & Technology. During that time, he met his wife, and together they started Heartbead New York, a fashion jewelry retailer. The business sold in 2007.

In addition to being a Partner at Sovereign’s, David is the Managing Partner of Sekata Indonesia Perkasa (SIP), a business leadership coaching company focusing on organizations that want to put focus on customer satisfaction, employees growth and scaleable & sustainable leadership. David has a vision of “Sekata Indonesia Perkasa”. He believes that to become a world-class leader, the leader must discover and develop its strengths to become excellent, live an integrated lifestyle and contribute wherever the leader lives.

David actively serves at Jakarta Praise Community Church as a leader and teacher. He has been happily married to his wife, Julia Tan, since 2000 and has been blessed with three children: Rachel, Daniel and Joseph.

Matt Monson is an Entrepreneur-in-Residence at Sovereign’s Capital with 16 years of experience in investing and finance. Prior to joining Sovereign’s Capital, Matt was a concentrated public equity investor with a strong passion for investing at ArrowMark Partners, Deccan Value Investors, and Brave Warrior Advisors. Prior to concentrated public equity investing, Matt was a private equity investor at FTV Capital, and an investment banker at UBS Investment Bank. Matt earned a BSB in Finance and Marketing from the Carlson School of Management at the University of Minnesota and an MBA from the Kellogg School of Management at Northwestern University. Matt lives in Denver with his wife, Megan, and their three girls. He enjoys spending time outdoors with his family and playing an active role in their church community, The Pearl Church.

Andrew Kean is a Principal at Sovereign’s Capital and concentrates on portfolio management and supporting investments in the lower middle market practice. Prior to joining Sovereign’s Capital, Andrew co-founded and managed a firm that invested private capital to help small businesses transition ownership, find new leadership, and continue to grow. Additionally, he held c-suite leadership roles in successful hospitality, consumer focused, and manufacturing companies.

Andrew is passionate about leadership development, portfolio company strategic planning, and board design and healthy governance. He earned his B.A. in Religious Studies from the University of Virginia and executive certifications in strategic planning (Center for Simplified Strategic Planning) and family business governance (Kellogg School of Management). Andrew was also selected for Harvard Business School’s inaugural Young American Leaders Program and is an alumnus of Leadership Tennessee.

Andrew lives in Chattanooga, TN with his wife Cindy and their three boys. He serves as an elder at New City Fellowship, and as a Board member for the Chattanooga Rotary Club and the River City Company.

Kelly is a Principal at Sovereign’s Capital, focusing on internal operations. Prior to Sovereign’s, she led a broad range of business functions at Deere & Company, including analytics, technology, factory operations, research and development, sales and marketing, public affairs, and reorganizations. Before Deere, Kelly was in information technology strategy and analytics, consulting to Fortune 500 companies, applying data-driven research and technology ideas at the District Attorney’s office in Las Vegas, and even doing a short stint at a nonprofit in Amsterdam focusing on vulnerable children in Ethiopia.

Kelly is passionate about building up Christ followers and God’s kingdom in the business world. She also loves being a servant leader who empowers others to do great things, being intellectually curious, being a connector, and creating structure out of chaos.

Kelly graduated cum laude with a Bachelor of Science degree in Business and Computer Systems from the Milwaukee School of Engineering, an MBA from the Tuck School of Business at Dartmouth, and a Masters in Public Administration from the Harvard Kennedy School of Government. She enjoys spending time with her husband, Matt, and two daughters, Mia and Noelle.

Adam Nichols is a Principal at Sovereign’s Capital and is focused on investments in the lower middle market.  He is involved in all aspects of portfolio investment activity, with primary responsibilities for investment origination and transaction execution.  Adam has over 16 years of experience in corporate finance and investment banking advisory.  Before joining Sovereign’s, Adam worked in the investment banking division of SunTrust Robinson Humphrey.  He was most recently in the Mergers & Acquisitions group where he focused exclusively on advisory, origination, and execution of M&A transactions for Commercial Banking and Private Wealth clients in the Southeast, with a focus on and passion for helping family-owned businesses.  Prior to his M&A role, Adam spent several years in the Equity Capital Markets group, originating and executing IPOs, follow-ons, convertibles and private placements for private and public corporate clients.

Adam earned his BBA in Finance at the University of Georgia and his MBA at Emory’s Goizueta Business School.  He lives in Atlanta, GA with his wife, Susan, and their three children.  They are active members of Peachtree Presbyterian Church, where Adam has been involved for many years in the men’s ministry, Ironmen.  In his free time, Adam is also an avid snow skier who enjoys the outdoors.

Kenny Ewell is a Principal at Sovereign’s Capital. Previously, he served as the Chief Investment Officer of a family office based in Silicon Valley, focused on faith-driven investing. Other past professional experience includes corporate M&A for a large multinational medtech company in the Midwest, emerging markets private equity at Quvat in Indonesia and Singapore, and healthcare investment banking at J.P. Morgan in NYC. He also spent a year in the Philippines through Princeton in Asia, which led to his meeting Sovereign’s and serving on the investment committee for Fund I. Kenny received his AB in Economics from Princeton University, where he also rowed on the varsity crew team. He received his MBA from the Wharton School at the University of Pennsylvania. He resides in the Twin Cities with his wife and three children.

Jessica Castillo is an Operating Partner at Sovereign’s Capital focusing on the lower middle market practice.  She brings over 15 years of operational and growth consulting experience across a variety of sectors.  Prior to Sovereign’s, Jessica worked in the operating arm at Vista Equity Partners, working closely with the executive teams of rapidly growing SaaS and data businesses on critical value creation initiatives.  Before joining Vista, she spent 10 years at McKinsey focused on sustainable operations transformations of industrial and transportation businesses with a dual emphasis on the performance and health of organizations.  Jessica is passionate about building businesses that serve both their customers and employees well because of thoughtful leadership and business design.

Adora Elisapeta Lovestrand is currently a Senior Associate with the firm, supporting both Asia and US operations. She has worked in Indonesia for almost 10 years — as an operator and shareholder in an Indonesian business conglomerate in the aquaculture and hospitality sectors then as a lecturer and program manager of the Executive MBA at Binus University. In the US, she spent time as a Policy Aide for a senior Congressman in Washington DC and holds a Master degree from UCLA. Before joining Sovereign’s Capital, she worked in the UK as a Research Associate at the University of Oxford where she completed postgraduate studies. Adora is originally from Samoa and is now working remotely from Oxford, UK where she lives with her husband, Joseph.

Hal is a Senior Associate at Sovereign’s Capital responsible for due diligence and portfolio management of U.S. companies. Prior to joining Sovereign’s Capital, he spent 4 years with SunTrust Bank in Atlanta, GA. Hal held various roles during his tenure at SunTrust including executing strategic Sales Enablement efforts, Commercial Banking Strategy, and most recently as a Sr. Analyst covering technology, healthcare, and business services companies in Georgia. In 2010, he co-founded an annual high school golf retreat sponsored by PGA professional Webb Simpson focused on sharing life values in a competitive forum.

Hal received his B.S. in Business Management with a concentration in Finance from North Carolina State University.

Andrew is an Associate at Sovereign’s Capital responsible for sourcing, due diligence, and portfolio management of private fund investments and co-investments. Prior to joining Sovereign’s Capital, he spent two years with Invesco Ltd. as a Corporate Strategist, supporting the firm’s alternatives and institutional business units with fundraising, M&A, and product development efforts. Andrew began his career at SunTrust Robinson Humphrey as an Investment Banking Analyst on the leveraged finance underwriting team, working on several middle-market transactions across a range of industries including financial institutions, technology, business services, and energy.

Andrew received his B.S. in Business Administration with a concentration in Accounting from the Georgia Institute of Technology. He currently resides in Wilmore, Kentucky with his wife, Alyssa.

Calvin is currently an Analyst at Sovereign’s Capital, supporting the team with market research, deal sourcing, and managing venture investments in both Asia and US. Prior to joining the firm, he has worked mostly in business development capacity for over 7 years in logistic, industrial lubricant, and technology in both Indonesia and Australia. He finished his Bachelor of Business (Accounting) from Monash University in Melbourne, Australia.

He is passionate about how technology can advance people’s lives for the better. Thus, he is also involved in development projects such as Changemaker.id (Accelerator and mentorship program to build transformative ventures, aiming to raise 1.000 Changemakers in Indonesia in the next 20 years).

Elise serves as a Junior Analyst for Sovereign’s Capital. In 2021, she earned a BS in Psychology, while studying Entrepreneurship and Spanish at Belmont University in Nashville, TN. For years, she worked for Nashville Young Life Capernaum, a ministry for teenagers with disabilities, and founded a branch of Capernaum ministry at a local high school. Elise enjoys connecting with others and building diverse relationships.

Elise and her husband Charlie were married in May 2021 and live in Durham, NC.

Paula LeMarr serves as the Operations Analysts. Paula has 6 years of Human Resources experience, specializing in organization culture and employee experience.

Paula holds a Bachelor’s degree in Management from Dallas Baptist University and is currently working towards her MBA. She lives in Texas with her husband David and 1 son.

Jim Fogleman serves as the Chief Financial Officer of Sovereign’s Capital. He is also the CFO of West Street Investment Services. For both firms, he oversees investment-level financial reporting and assists with compliance matters on behalf of the private equity funds. Prior, he held CFO positions with privately held companies involved in start-ups, turnarounds, and real estate development. These companies included Blue Rhino Corporation, a propane cylinder exchange marketer/distributor; Platinum Service Corp., a developer of Boston Market restaurant properties located primarily in the Carolinas and Georgia; and National Packaging Solutions Group, a southeastern US manufacturer and distributor of industrial packaging. Mr. Fogleman began his career in public accounting with Price Waterhouse and later with Pryor, Sills and Fogleman and the Daniel Professional Group. He earned a BS from the University of North Carolina at Chapel Hill and is a licensed CPA in North Carolina. Mr. Fogleman and his wife Mary Edna have three sons.

Throughout the course of his career, William has spent ten years in Private Equity and Investment Banking, along with five years pursuing entrepreneurial endeavors. He has investment experience in services businesses, education, technology, real estate, power, sports and healthcare. He co-founded an adventure race company and two technology companies. He loves finding unique investment opportunities, working with people and helping them become the best version of themselves. For Sovereign’s Capital, William oversees the search fund portfolio and assists with lower middle market transactions.  He is also the co-founder of Faith Driven Entrepreneur and serves as a podcast host alongside Henry and Rusty.  He received an MBA from the Stanford Graduate School of Business and a BS in Finance, Summa Cum Laude, from the University of Alabama, where he was named a USA Today Academic All-American. William is married to a wonderful woman named Deb that continually challenges and refines him. They welcomed their son Liam in 2018 and their daughter Eloise in 2020.

Toby serves as Sovereign’s Capital’s chaplain. He is also the Lead Pastor at Christ Church in San Francisco.

Toby’s family has been in California for four generations and he was raised mostly in San Diego and Monterey.  He and his wife Rebekah were married in San Diego in 1999 and have three active and fun boys aged 15, 10, and 7.  Toby earned his BS from UC Davis and after spending a number of years in the marketplace, he went back to school to pursue a masters at Westminster Seminary in California and a PhD at Stony Brook University in New York. While living in Brooklyn, God redirected Toby and Rebekah towards full-time ministry, and they came home to California in 2009 to plant a church in San Francisco.

As Lead Pastor at Christ Church, his primary responsibilities include preaching, counseling, leadership development, and providing directional leadership for the church.