# Ronoc

Ronoc is a Private Equity based in Dublin, Ireland.

## Overview

- **Organization type:** Private Equity
- **Headquarters:** Dublin, Ireland
- **Region:** Europe
- **Address:** Dublin, Ireland
- **Founded:** 2007
- **Assets under management:** Undisclosed
- **Website:** www.ronoc.ie
- **LinkedIn:** https://www.linkedin.com/company/ronoc

## Regulatory record

- **Reports private funds:** No

## About

The firm, based in Dublin, Ireland, provides investment and advisory services across multiple sectors. Its portfolio includes microfinance institutions, retail financial services, mobile device software providers, and executive search services. The firm also invests in impact initiatives addressing social and environmental issues.

## Sectors

- Fintech
- Digital Payments
- Retail Banking
- Financial Services

## People

- Michael Madden — Principal
- Peter Gall — Principal
- Allen Gilstrap — Principal

## Questions

### Who runs investment decisions at Ronoc?

Investment and operating decisions sit with named principals Michael Madden, Peter Gall and Allen Gilstrap. The firm’s website presents them collectively as the leadership with over 100 years of combined operational and investment experience, and does not identify a separate investment committee.

### How does Ronoc source its portfolio?

Ronoc originates opportunities through its operational footprint in target markets, often building platforms itself or partnering with local operators. In Asia, it formed Ronoc Asia by joining forces with OpenRevolution, a mobile fintech company founded in 2008, to create an investment vehicle specifically for Asian fintech opportunities.

### Which emerging markets does Ronoc target?

Ronoc’s disclosed footprint covers Asia and Africa, with confirmed operational and portfolio exposure in Mongolia through XacBank and in Myanmar through the Ongo mobile payments platform, which was developed in Singapore and has operated in Myanmar since 2016.

### Does Ronoc participate in fund commitments or only direct deals?

Ronoc’s disclosed activity is direct: it builds and backs platforms directly rather than participating through fund-of-funds commitments. It also acts as a board-level investor, as demonstrated by its ten-year board presence at XacBank.

### How is Ronoc related to OpenRevolution?

Ronoc combined forces with OpenRevolution, a mobile fintech company established in 2008, to form Ronoc Asia, an investment vehicle focused on fintech opportunities across Asia. This partnership underpins the firm’s Asian emerging-markets strategy.

## Related profiles

- [Ronin Equity Partners](https://altss.com/profile/ronin-equity-partners)
- [Roo Capital](https://altss.com/profile/roo-capital)

---

Updated: 2026-06-03T20:00:00.000Z

Canonical page: https://altss.com/profile/ronoc

Maintained by Altss — https://altss.com — methodology: https://altss.com/methodology