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An Experienced Team of Investors


Combining Experience, Diligence, & Passion

We are a boutique asset manager focused solely on the developing world. We are attracted to the emerging and frontier markets for their growth potential and the abundance of undiscovered investment opportunities.

Tim Drinkall is the lead portfolio manager and a founder of the firm. Tim has more than 25 years’ experience researching companies and managing portfolios in the emerging and frontier markets. His experience and passion for the developing world includes building portfolios of companies within multiple investment disciplines, including regional, global, and niche markets. He also has the unique experience of building a specialty coffee retail business in an emerging market country earlier in his career. Tim’s vision for creating Dauntless is built on the premise that investors are best served with a more “complete” portfolio when investing in the developing world, one that includes investments across the capitalization spectrum of both emerging and frontier markets.

Gunawan Wijaya joined Tim in 2021 as a senior analyst on the team after having worked with him for more than a decade at Morgan Stanley Investment Management. In establishing Dauntless Management, they combine their institutional experience with the client service focus of a boutique. Dauntless utilizes its own investment process that’s been refined to build concentrated portfolios designed to provide investors with significant alpha over time. If you would like to learn more about the Dauntless team members, please see the bios below.

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Tim Drinkall

Portfolio Manager Emerging Markets

Tim Drinkall

Tim Drinkall

Portfolio Manager Emerging Markets 

       

Tim was lead portfolio manager for Morgan Stanley Investment Management’s Frontier Markets Equity and Emerging Markets Small Cap strategies and was a senior PM on the Emerging Market Equities team. He joined MSIM in 2007 and has 25 years of investment experience. Prior to joining MSIM, Tim was a fund manager at Gustavia Capital in Stockholm, Sweden where he was responsible for two funds investing in emerging Europe. He has been working with emerging markets since 1992. Tim began his investment banking career with Creditanstalt Securities as an analyst in Budapest, Hungary and was later promoted to Head of Polish Equity Research in Warsaw, Poland. In 1997 he joined Deutsche Bank in London as director and Head of Emerging Europe Equity Research. Tim received a B.A. in finance from Indiana University, Bloomington and an M.B.A. in international business from George Washington University.

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Caleb Heo

Research Analyst Emerging Markets

Caleb Heo

Caleb Heo

Research Analyst Emerging Markets

Caleb has 3 1/2 years of investment experience. Prior to joining the firm, he was an investment analyst with Sutton Capital, where he was responsible for sourcing new investment ideas as part of their investment team. Caleb also worked as a strategy analyst for Woori America Bank In New York where, amongst other responsibilities, he researched emerging technologies for digital transformation of the banking industry. He has a BS degree in Chemistry from George Washington University.

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Dennis Rothe

Head of Business Development

Tim Drinkall

Dennis Rothe

Head of Business Development 

       

Dennis has 26 years' experience in the investment management industry having spent the majority of his career in various leadership and global distribution functions at Franklin Templeton Investments and more recently at Cohen & Steers. His experience includes working with institutional clients and their consultant advisors across a broad spectrum of asset classes and investment styles with a focus on delivering global, non-US and emerging markets equity and debt portfolio solutions. Dennis began his career in 1993 with an investment consultant, Evaluation Associates, before joining Fiduciary Trust Company International in 1997 which was later acquired by Franklin Templeton. Dennis received a B.A. in Economics from the University of Connecticut.