Shimoda Group was established in Asia as a financial consulting company, in 1993, by Andrew Kershaw and David Mapley and a group of investors with extensive experience in Asian banking and capital markets. In 1996, Shimoda Capital Advisors Ltd. (“SCAL”) was established in the Cayman Islands in order to create an offshore entity for the purpose of funds advisory, management, corporate services, and provision of directors. SCAL initially specialised in Emerging equity and debt markets, particularly “Emerging Europe” and Asia. The company works with a number of investment funds, identified by three investment themes - Emerging Markets, Fund of Funds, and Thematic funds. SCAL also advises institutional investors on asset allocation strategies.

The company was one of the earliest investors in Russia and the Newly Independent States (NIS) with the principals of the company having been involved in the area from soon after the breakdown of the command economies in the early 1990’s. The company benefits from accumulated experience in the region as well as extensive contacts and networking built up over many years.

The company, operating in Cayman since the mid-1990's, has provided directors to investment funds and managers/advisors who maintain a presence in the Cayman Islands, particularly those with Centre of Main Interest ("COMI") in Cayman.