Investment 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.

Phil Jung is a Partner on the venture team at Sovereign’s Capital.

Phil was previously the Chief Financial Officer and Chief People Officer at Mindoula Health, a next generation population health company that deploys tech-enabled teams to deliver 24/7 care to populations facing behavioral health and medical challenges. Phil led the company through multiple rounds of equity and debt financings and helped scale the organization from 65 to 325+ employees across 40 states.

Prior to joining Mindoula Health, Phil led investments at the Maryland Venture Fund, a multi-stage venture capital firm in Maryland. He also worked for Foundation Capital, an early- and growth-stage tech fund based in California, and TDF Ventures, an enterprise markets focused early-stage fund based in Washington, DC.

Phil started his career at KPMG’s Risk Consulting practice in the Silicon Valley where he specialized in software asset management for Fortune 500 clients. Phil also co-founded the Jeremy Lin Foundation, a Palo Alto based non-profit whose mission is to love and serve overlooked AAPI and cross-racial youth by supporting comprehensive programs through narrative change and community empowerment.

Phil graduated with honors from UC Berkeley where he received a BA in Economics and earned his MBA with honors from Georgetown University. He lives in Washington, DC with his wife and son.

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.

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.

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 Firman is a Principal at Sovereign’s Capital. He has worked in the finance industry domestically and internationally, including a 4-year stint in Dubai. He has experience in both asset management and investment banking, including time spent at a Canadian single-family office, and as a Vice President with J.P. Morgan. His focuses include alternative investments and impact investing. Mr. Firman is a CFA charterholder and received an undergraduate degree in Economics from Colorado State University. He lives with his wife and daughter in Dallas.

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.

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.

John Bitsas is a Principal at Sovereign’s Capital and focuses on private equity investments in the lower middle market. He is involved in all aspects of investment activity, with primary responsibilities for sourcing, evaluating, executing, and overseeing investments. John has over 18 years of experience in private equity, private credit, commercial banking, and public accounting.

Before joining Sovereign’s, John spent time working with a family office on lower middle market private equity transactions at Aiglon Capital. Prior to Aiglon, he was an SVP at SunTrust Bank serving corporate clients in the middle market. The majority of John’s career was spent at Triangle Capital Corporation (NYSE:TCAP) where he was a Vice President and member of the deal team responsible for executing private credit and equity investments. John began his career at Ernst and Young in the Audit practice and migrated to the Transaction Advisory Services team serving private equity firms and large public companies.

John earned his BSBA and Masters in Accounting at Appalachian State University and his MBA at UNC Chapel Hill’s Kenan-Flagler Business School. He is a licensed CPA in the state of North Carolina.  He lives in Raleigh, NC with his wife, Corrie, and their three children. They are active members of Summit Church, where John and Corrie serve together in the financial stewardship ministry. In his free time, John can be found on the baseball field with his sons and having pretend experiences with whatever his daughter dreams up.

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.

Justin Speer is a Principal and Senior Analyst on the Public Equities team at Sovereign’s Capital. He possesses nearly 20 years of equity research and investment experience, including over a decade investing in small- and mid-cap growth equities as a Portfolio Manager and Senior Analyst at Invesco / Van Kampen and several years as a Managing Director at investment research firm Zelman & Associates.  Before joining Van Kampen Investments in 2008, Justin worked as an equity research analyst with Credit Suisse. For over a decade, he has also served as a deacon in the church of Christ in Katy, Texas with responsibility for fostering World English Institute (WEI), a platform that promotes the worldwide spread of the gospel of Christ while teaching English. He was appointed as a board member of WEI in 2020. Justin has also served as a short-term missionary in Albania, Romania and Katy, Texas.

Justin graduated summa cum laude from Texas Christian University, earning a BBA degree in finance and accounting while competing in cross country and track & field for the university. Justin resides in Katy, Texas with his wife, Mindy, and their two daughters, Jessie Jo and Macie Joy. In his free time, Justin enjoys coaching his daughters’ basketball teams, traveling with his family, and eating far too much Tex-Mex and bar-b-que.

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.

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.

Nigel is an Associate at Sovereign’s Capital responsible for due diligence and portfolio management of lower middle market U.S. companies. Prior to joining Sovereign’s Capital, he spent 1 year with Fifth Third Securities in Atlanta, GA. Nigel served as an Analyst for the Corporate Finance Group covering tech-enabled business services, industrials, healthcare and consumer & retail companies in Georgia, Tennessee, Michigan, Texas, and Florida. Before Fifth Third, he joined Teach For America as a high school math teacher in Atlanta for 2 years. In 2017, he embarked on the Keegan Traveling Fellowship, a solo trip in which he spent 1 year studying the impact of fatherhood in 22 countries across all 7 continents. 

Nigel received his B.S. in Engineering Science with a focus in Engineering Management and Finance from Vanderbilt University. He currently lives in Atlanta with his mother, grandmother, and sister, where he attends Antioch Baptist Church North and serves as a Junior Deacon.

Calvin is currently an Associate 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 is a Project Manager 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 live in Durham, North Carolina and enjoy cooking and CrossFit.

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.