Cambodia Laos Myanmar Development Fund II

Equity : December 2016

BIO has invested USD 5 M in equity in the Cambodia Laos Myanmar Development Fund II, a sector-agnostic growth capital fund that will invest in SMEs in Cambodia, Laos and Myanmar.

Amount

€ 4,744,500.00

Type of investment

Equity

Development impacts

  • Local economic growth
  • Private sector consolidation/innovation

Beneficiary locations

Asia: Cambodia, Myanmar

Investment field

Investment Companies & Funds

Activity

SME Fund

Organisation

Cambodia Laos Myanmar Development Fund II

Domicile

Singapore

The Cambodia Laos Myanmar Development Fund II (CLMDF II) is a 10 year sector-agnostic growth capital fund that will invest in SMEs in Cambodia, Laos and Myanmar.

CLMDF II is managed by Singapore-based fund manager Emerging Markets Investments Advisors (EMI) with on-the-ground offices in Cambodia and Myanmar.

CLDMF II will build on the experience EMI acquired with the Cambodia Laos Development Fund (“CLDF”), a $ 19,7 mln SME fund launched in 2010 to invest in SMEs in Cambodia and Laos.

Development impacts

  • Local economic growth

    CLMDF II will aim at providing long-term equity funding to around 12 local SMEs. This long-term funding is currently very scarcely available in the countries of operation as the financial sector in the three target countries is not sufficiently developed to provide long term financing to local companies

    CLMDF II is currently one of the only SME-focused PE funds active in Cambodia, Laos and Myanmar. This long-term funding will allow the companies to grow further, creating new jobs and empowering and training local staff, generating additional tax revenues, increasing access to products and services to the local population and supporting a series of local suppliers in their growth.

    CLMDF II will also selectively look at setting up greenfield projects with experienced technical partners and hence support the expansion of underdeveloped sub-sectors. These projects might present a more risky profile but will mostly have a very distinctive development impact.

  • Private sector consolidation/innovation

    EMI will aim at further strengthening the SMEs it will invest in and hence support the development of the private sector through the following means :
    o Guidance on strategy, budgets, controls and business development
    o Securing additional funding
    o Recruitment/strengthening of key staff/management and other HR aspects (organization of training, policies to improve retention, etc.)
    o Strengthening of governance and introduction of independent board members
    o Introduction to new potential partners abroad
    o New product development and improved marketing initiatives to increase sales
    o Promotion of environmental or social aspects at the level of the different investees

Made possible through this investment

Thanks to the direct funding from BIO, the following second-line investments have been made possible.

BAFCO Invest AB (Burapha)

Burapha Agro-Forestry Co., Ltd is a Lao Swedish plantation and wood products manufacturing company, with its own sawmill, processing facilities and plantations.

BlueGrass Design Group

BlueGrass is a leading out-of-home (OOH) media company in Laos. The company has multiple OOH assets including at all of the country’s airports as well as all of the bus shelters throughout Vientiane, among others. It also offers innovative design, branding and marketing services to corporations and the government.

FCC Hotels & Hospitality

Cambodia

FCC, known as The Foreign Correspondents Club, is an iconic brand and established hotel and restaurant business in Cambodia since 1992, focusing on the expat and tourist markets. The Company operates in the prime locations of Siem Reap and Phnom Penh, the main destinations for foreign visitors coming to Cambodia.

Forte Investment Holdings

Cambodia

Founded in 1999, Forte Insurance is the largest general insurer in Cambodia with approximately 50% market share in 2017 and a leader in product innovation and people development.

Forte Life Assurance

Cambodia

Forte Life is a life insurance company that focuses primarily on providing risk management and investment solutions to low-income, rural Cambodians through collaboration with other like-minded individuals and institutions to underwrite and distribute its products across Cambodia.

iCare Benefits

Cambodia

iCare Benefits is an employee benefits program offered to enterprises in developing countries. Through partnerships, iCare has provided more than a million workers with low-cost instalment finance to purchase essential products and services.

Khema Global Company

Cambodia

Khema Global is a leading private healthcare provider in Phnom Penh offering comprehensive, high quality and affordable care to the city’s residents. The Company currently operates polyclinics that are staffed 24/7 with internationally-qualified medical personnel.

Khmer Dairy Investment

Cambodia

Greenfield project aiming at creating the first modern and high‐tech dairy farm and GMP/HACCP certified milk processing plant in Cambodia.

Myanma Food for Thought

Myanmar

Myanma Food For Thought (MFFT) is the operator of Yakun, Titu’s brands and food court Mont Zay Tan. With more than 15 outlets across the brands, MFFT strives to provide quality, clean and affordable restaurant experience to Myanmar’s growing middle class.

Myanmar MFI Holdings

Myanmar

Mifida is a microfinance company disbursing group and individual loans to low-income citizens in Myanmar.

Oway Pte. Ltd.

Myanmar

Oway is the largest local online travel platform in Myanmar offering bookings for international and domestic flights, hotels, tour packages and car rentals.

Shwe Property

Myanmar

Shwe Property is the largest property portal in Myanmar with over 100K listings. In addition to its large and growing digital presence, the company works together with developers, agents and banks to facilitate property sales through property expos, launch events and mortgages.

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