Appian Capital Advisory
Private equityAbu Dhabi · 84 people tracked
Also known as APPIAN CAPITAL ADVISORY LLP
Investment thesis
Appian aims to be the partner of choice in the metals and mining sector by pairing quality assets with long-term capital and technical operating expertise. The firm works alongside portfolio company management teams to help them reach their full potential, offering support and capital through both favorable and difficult conditions so management can focus on operations. Appian can finance operations from advanced exploration through to production and provides in-house geology, mining, and metallurgy teams. Its partnership offering spans resource estimation, mine design and optimization, metallurgical engineering, project development and construction, product marketing, corporate governance, project financing, capital markets strategy, permitting, risk assessment, and environmental, health, safety, and social best practices.
Source: firm website, verified Aug 25, 2026.
Team · 84 people
from the firm's website
What they invest in
from 8 of 28 portfolio companiesNew Materials ×8Cleantech ×7Energy ×3Advanced Manufacturing ×1Deep Tech ×1
HQs:Brazil×4Canada×2Australia×1Namibia×1
Investments · 28 tracked
founders shown can be your intro pathGraphite processing in the USA.
Vancouver
Roger Norwich(Director)Philip Gibbs(Chief Financial Officer)Nadia Abdul-Aziz(Director)Douglas MacQuarrie(President, CEO, Corporate Secretary)Bashir Ahmed(Vice President Production and Development)Alex Heath(Director)
Atlantic Nickel operates an open-pit sulfide nickel mine (Santa Rita Mine), handling exploration, mining, processing, and commercialization of nickel concentrate.
CleantechNew Materials
Mineral sands operation in the USA.
Copper-gold operation in Brazil (exited).
Western Potash Corporation develops potash extraction using a horizontal solution mining method, with its Milestone Project located southeast of Regina in Saskatchewan, Canada.
CleantechNew MaterialsRegina, CA
Gold operations in Burkina Faso and Côte d'Ivoire (exited).
Gippsland Critical Minerals is developing the Fingerboards Project to extract rare earth elements and critical minerals used in clean energy, advanced manufacturing, defence and medical technologies.
CleantechEnergyNew Materials
Co-investorsACTAI VenturesAdjuvoAlliance VenturesArkam VenturesAsia2G CapitalAt One Ventures+49 more
Gold operation in Canada (exited).
Lithium Ionic is a Canadian lithium mining company developing spodumene concentrate deposits in the Itinga district of Minas Gerais, Brazil, to supply the EV and battery markets.
CleantechEnergyNew MaterialsToronto, BR
Michael Shuh(Director)Helio Diniz(Executive Officer, Director)Lawrence Guy(Director)Patrizia Ferrarese(Director)Tom Olesinski(Executive Officer)Damian Lopez(Executive Officer)
Mineração Vale Verde is a mining company developing the Serrote Project in Craíbas, in the Agreste region of Alagoas, Brazil, to produce and sell copper concentrate.
Advanced ManufacturingNew MaterialsCraíbas, BR
Rare earths project in Tanzania (exited).
Zinc-lead operation in Canada.
Rosh Pinah Zinc operates an underground zinc mining operation in Namibia, focused on safe and sustainable mineral extraction and processing.
CleantechNew Materials
Nickel-lithium-cobalt-copper operation in the USA.
Western Resources Corp. is a potash mining company developing the Milestone Project near Regina, Saskatchewan, Canada, using a horizontal solution mining method to extract potash.
CleantechDeep TechNew MaterialsRegina, CA
Fund performance · per public LP disclosures · 2
as of Dec 2025| Fund | Vintage | Committed | Net IRR | TVPI | DPI |
|---|---|---|---|---|---|
| Appian Natural Resource (UST) Fund III LPLPs: Texas Municipal Retirement System, Carnegie Corporation of New York | — | — | -13.6% | 0.91x | 0.03x |
| Appian Natural Resources (UST) Fund II L.P.LPs: Texas Municipal Retirement System | — | — | 8.8% | 1.57x | 0.86x |
Source: public limited-partner disclosures (CalPERS, CalSTRS). Net IRR / TVPI / DPI as reported by the limited partner; a fund's early-year IRR is an interim estimate (J-curve).
Frequently asked questions
- How many investments has Appian Capital Advisory made?
- Appian Capital Advisory has 28 tracked investments.
- What sectors does Appian Capital Advisory focus on?
- Appian Capital Advisory focuses on Energy, New Materials.
- Where is Appian Capital Advisory located?
- Appian Capital Advisory is headquartered in Abu Dhabi, AE.
- Who does Appian Capital Advisory co-invest with?
- Appian Capital Advisory most often shares deals with Force Over Mass Capital, Innovestor Ventures, Madrona Venture Group, among 17 tracked co-investors.
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