Investors in Laos

Comanche is an information technology solutions company based in Thailand. We have more than 20 years’ experience in the hotel IT industry, creating management systems that provide seamless integrated solutions for hotels and serviced apartments. Our name and reputation have been established since 1996. We now have more than 600 customers in 17 countries, with hotels ranging in size from 19 rooms up to 1,300 rooms. More than 30 percent of our current customers are hotels that have converted from other software systems. Along with our home base of Thailand, we have customers Myanmar, Vietnam, Laos, Australia, Cambodia, Hong Kong, Macau, China, Japan, Indonesia, Philippines, Maldives, Malaysia, Taiwan, India, Sri Lanka, and Singapore.

Obor Capital is a venture capital firm specializing in early-stage, growth capital investments and investments in start-ups and local small and medium enterprises. The firm invests in waste management, clean water utilities, e-commerce, logistics, and pet care. We seek innovative ideas that can transform into robust enterprises, driving sustainable growth. The firm prefers to invest in Cambodia, Laos, Vietnam and Indonesia. Obor Capital was founded in 2016 and is based in Phnom Penh, Cambodia.

PTT Group is Thailand's fully-integrated energy company with leading position in exploration and production, transmission, petrochemical, refining, marketing and trading of petroleum and petrochemical products in both domestic and overseas.PTT Group has been determined to contribute in the development of ASEAN energy security to enhance regional competitiveness as AEC will commence in late 2015. PTT Group plays an extremely important role today in contributing towards maximizing collaboration between Thailand and the other nations of the ASEAN in the area of energy.In Brunei, PTT is currently strengthening relationships with local producers to capture crude oil export volume for trading along with seeking the opportunity coal mining; in Cambodia PTT is supplying LPG and petroleum products for domestic consumption; in Indonesia it is exploring growth opportunities throughout the country and taking part in new explorations; in Laos PTT is developing the oil business profoundly and also developing hydropower; in Malaysia it is contributing to complete the supply chain in fuel oil trading; in Myanmar it is conducting feasibility studies of gas-fired power plants as well as refinery; in the Philippines PTT is implementing operation excellence in its existing oil business operations and actively growing in oil retail business; in Singapore PTT is expanding its crude oil, condensate, petroleum and petrochemical products and other commodities trading.Listed in Dow Jones Sustainability Indices, PTT Group never loses its grip on Corporate Social Responsibility, environmental protection, and preservation of nature. Continuous improvement, benchmarking and monitoring of Green House Gas (GHG) emissions and energy conservation are placed in the latest roadmap for sustainability.With our belief in the power of synergy in ASEAN, PTT Group will be one of the powers that drive ASEAN towards sustainable future.

Impact Fund Denmark is a private equity and venture capital firm specializing in financing in the form of equity, mezzanine, loans, debt and guarantees. It makes socially conscious investments. It makes directly & indirectly investments. Under directly investing, it invests in early stage & growth capital investments. Under indirectly investments, it invests in venture capital funds. It specializes in establishing new companies, setting up joint ventures between Danish companies and local business partners and in acquiring existing companies. It provides financing to private-sector projects in the developing countries. The firm can only invest in countries whose 2008 GNI capita income is below $0.03 million with an exemption granted to South Africa, Botswana, and Namibia. Also, the host countries of investments must be on the OECD’s DAC list of development aid recipients. It invests where private sector financing is unavailable or insufficient. It invests in sustainable growth and high-impact solutions in developing markets/countries. It does not invest in Forced labor or child labor, Ozone depleting substances, PCB's (Polychlorinated Biphenyls) and other specific, hazardous pharmaceuticals, pesticides/herbicides or chemicals, wildlife or products regulated under the Convention on International Trade in Endangered Species or Wild Fauna and Flora (CITES), Unsustainable fishing methods, Cross-border trade in waste and waste products, unless compliant with the Basel Convention and the underlying regulations, Destruction of High Conservation Value areas, Radioactive materials and unbounded asbestos fibres, Pornography and/or prostitution, Racist and/or anti-democratic media, Alcoholic Beverages (except beer and wine), Tobacco, Weapons and munitions, Gambling, casinos and equivalent enterprises, Standalone fossil fuelled power plants, Drilling, exploration, extraction, refining and sale of crude oil, natural gas and thermal coal, Storage, supporting infrastructure (pipelines etc.), transportation and logistics, and services primarily related to fossil fuels, Any business using captive coal for power and/or heat generation, Electricity generation from peat and activities leading to deforestation, Investments and/or other projects that aim to produce or make use of agricultural or forestry products, Biomaterials and biofuel production, Export-oriented agribusiness mod, Meat and dairy industries. It prefers investing in commercial services and supplies, biofuels, electric power by solar and wind energy and irrigation systems sector. The firm seeks to invest in climate and Agribusiness. It focuses its investments in Green energy & infrastructure with focus on Clean, affordable renewable energy, Waste recycling and management, Energy efficiency, Water access and management; Financial Services with focus on Microfinance, MSME financing, Development banks and Insurance; Sustainable food systems with focus on Climate farming, Storage and distribution, Processing, Forest and land; Healthcare with focus on Hospitals and clinics, Pharmacy chains, Diagnostic services, Pharmaceuticals & medical equipment. The firm prefers to invest in companies based in Africa focusing on North Africa, Sub-Saharan Africa, South America, Central America, Middle East and Algeria, Angola, Benin, Botswana, Jordan, Denmark, Senegal, Burkina Faso, Burundi, Cameroon, Cape Verde, Central African Republic, Chad, Comoros, Congo (Brazzaville), Democratic Republic of Congo, Côte d'Ivoire, Djibouti, Egypt, Arab Rep., Eritrea, Ethiopia, The Gambia, Ghana, Guinea, Guinea-Bissau, Kenya, Lesotho, Liberia, Libya, Madagascar, Malawi, Mali, Mauritania, Morocco, Mozambique, Namibia, Niger, Nigeria, Rwanda, Senegal, São Tomé and Principe, Sierra Leone, Somalia, South Africa, Sudan, South Sudan, Swaziland, Tanzania, Togo, Tunisia, Uganda, Zambia, Zimbabwe; Asia focusing on Afghanistan, Bangladesh, Bhutan, Cambodia, China, Fiji, India, Indonesia, Iran, Iraq, Brazil, Malaysia, Turkey, Mexico, Kiribati, Laos, South Korea, North Korea, Kyrgyzstan, Maldives, Federal States of Micronesia, Mongolia, Myanmar, Nepal, Marshall Islands, Pakistan, Papua New Guinea, Philippines, Western Samoa, Solomon Islands, Sri Lanka, Syria, Tajikistan, Thailand, East Timor, Tonga, Turkmenistan, Tuvalu, Uzbekistan, Vanuatu, Vietnam, West Bank and Gaza, Yemen; Europe focusing on Albania, Russia, Armenia, Azerbaijan, Caucasus, Belarus, Balkans, Bosnia & Herzegovina, Bulgaria, Croatia, Montenegro, Romania, Slovenia, Georgia, Kosovo, Macedonia, Moldova, Serbia, Ukraine; and Latin America with a focus on Belize, Bolivia, Colombia, Cuba, Dominican Republic, El Salvador, Grenada, Guatemala, Guyana, Haiti, Honduras Nicaragua, Paraguay, Peru, Saint Lucia, Saint Vincent and The Grenadines, Suriname, Ecuador, and Jamaica and North Asia, United States of America, Latin America and parts of Europe. It seeks to invest between from DKK15 million ($2.32 million) and DKK500 million ($77.52 million). The firm can invest up to DKK350 million ($51.34 million) per company. The firm seeks to co-invest with Danish businesses in projects based in developing countries. It prefers to take minority stake between 10% to 30% and up to 49 per cent in small projects. It prefers to take a board membership. The firm prefers to exit its investments within five to seven years when the loan has been repaid or the shares have been sold. The firm also offers special assistance to small and medium-sized enterprises which employs less than 300 employees, with an annual revenue of up to DKK 300 million ($53.16 million) and has a positive result in two out of three latest financial years. It also provides advisory services to business investments in developing countries. The firm makes two thirds of its investments in partnership and can also provide additional financing. Impact Fund Denmark was founded in 1967 and is based in Copenhagen, Denmark with additional offices across Asia, Europe, South America, and Africa.

Mekong Strategic Ventures is a private equity and venture capital firm specializing in investing in startups, early stage, Mergers & Acquisitions, Divestments and solely on digital companies. The firm prefers to invest through growth capital. It seeks to invest in financial services, technology, infrastructure, renewable energy, real estate and sustainability. The firm prefers to invest in Greater Mekong Region with a particular focus on Cambodia, Laos and Myanmar. The firm prefers to make equity investments between $0.10 million and $0.50 million. Mekong Strategic Ventures was founded in 2017 and is based in Phnom Pehn, Cambodia with additional office in Bangkok, Thailand.

Belt Road Capital Management is a private equity and venture capital firm specializing in seed/startup and growth capital investments. The firm seeks to be sector agnostic with focus on telecommunications, media, and technology. It seeks to make investments in countries exposed to China's One Belt One Road Initiative, particularly countries in the Greater Mekong Sub-Region such as Cambodia, Laos, Vietnam, Myanmar, and Thailand. Belt Road Capital Management was incorporated in 2017 and is based in Phnom Penh, Cambodia.

Development Principles (Hong Kong) Limited is a private equity firm specializing in middle market companies. It does not invest in start up companies. The firm primarily invests in production and manufacturing, food and agriculture, renewable energy and clean technology, distribution and logistics, chemicals and pharmaceuticals, consumer products, and basic manufacturing. It typically invests in China but can selectively invest in Mongolia, Taiwan, Vietnam, and Laos. The firm seeks to invest between $15 million and $30 million in companies. Additionally, it can invest in larger transactions in companies with enterprise value between $150 million and $300 million. The firm typically seeks a minority position in established middle sized companies which are six to twenty four months away from IPO and has financial and operational performance with a minimum of three years of track record. It generally invests through a blend of equity and mezzanine debt elements. The firm typically exits its investment in two to seven years through outset by way of a stock market listing, securitization, recapitalization or trade sale. It also provides private equity consulting services, that is, private equity fund setup and operations. Development Principles (Hong Kong) Limited was founded in 2005 and is based in Central, Hong Kong with additional offices in Beijing, China and Chengdu, China.

Frontier Investment and Development Partners is a private equity firm specializing in emerging market investments. It will focus on agricultural resources, agri-processing, oil/natural gas, logistics and infrastructure in Cambodia and Laos while it will focus on the consumer and industrial sectors in Vietnam. The firm primarily invests in Vietnam, Cambodia, and Laos. Frontier Investment and Development Partners was founded on 2008 and is based in Singapore with additional offices in Phnom Penh, Cambodia and Yangon, Myanmar.

Belgian Investment Company for Developing Countries SA/NV-BIO is a private equity and venture capital firm specializing in direct and fund of funds investments. It focuses on debt, expansion, growth capital, middle market, emerging growth, mezzanine, start-up, early stage, private sector projects; private enterprises with a focus on small and medium enterprises and large companies with local base, financial sector with a focus on financial institutions or intermediary organizations who aim to finance small and medium sized enterprises including commercial banks, microfinance institutions, non-bank financial institutions, factoring, leasing, investment companies, microfinance investment funds, and private equity funds and infrastructure projects with a focus on private projects or public-private partnerships aiming at servicing local populations and businesses and new projects or rehabilitation of existing equipment, subsidies and grants to co-finance for feasibility studies and technical assistance programmes for training, technology transfer; and guarantees. It does not invest in production, trade, or activities involving harmful or exploitative forms of forced labor or harmful child labor, any product or activity deemed illegal under host country laws or regulations or international conventions and agreements, weapons and munitions, alcoholic beverages excluding beer and wine, tobacco, gambling, casinos and equivalent enterprises, wildlife or wildlife products regulated under CITES, radioactive materials, unbonded asbestos fibers, commercial logging operations or the purchase of logging equipment for use in primary tropical moist forest, products containing PCBs, pharmaceuticals subject to international phase outs or bans, pesticides and herbicides subject to international phase outs or bans, ozone depleting substances subject to international phase out, and drift net fishing in the marine environment using nets in excess of 2.5 km in length. The firm seeks to invest in all sectors with a focus on agriculture and agro-industry, information technology and telecommunications, productive sectors for private enterprises; renewable energy, water access, irrigation and agriculture, telecommunications, and transport infrastructure for infrastructure projects. It also invests in manufacturing and ICT. The firm primarily seeks to invest in countries that fall under the following categories: least developed countries, low income countries, and middle income countries. For private enterprises and financial sector, it seeks to invest in Africa, Central and Latin America, and Asia/South-East Asia with particular emphasis on Africa for infrastructure projects. Within Africa it invests in Algeria, Angola, Benin, Burkina Faso, Burundi, Cameroon, Democratic Republic of Congo, Ethiopia, Ghana, Guinea, Ivory Coast, Kenya, Madagascar, Malawi, Mali, Morocco, Mozambique, Niger, Nigeria, Rwanda, Senegal, South Africa, Tanzania, Togo, Tunisia, Uganda, Zambia and Zimbabwe; for Asia it invests in Bangladesh, Cambodia, India, Indonesia, Laos, Mongolia, Myanmar, Nepal, Philippines, Sri Lanka and Vietnam; for Latin America it invests in Bolivia, Brazil, Colombia, Dominican Republic, Ecuador, El Salvador, Guatemala, Haiti, Honduras, Nicaragua, Paraguay and Peru; it also invests in Palestine. The firm seeks to invest in small and medium sized enterprises and larger corporations and for investment companies and funds with a maximum amount of respectively €1 million ($1.10 million) and €15 million ($16.50 million) per project and minimum amount of €3 million ($4.14 million) to €15 million ($16.50 million) for infrastructure projects and less than €1 million ($1.38 million) in the financial sector. It also provides subsidiaries and grants up to a maximum of 50% of their total cost with maximum €0.1 million ($0.14 million) and usually makes early stage investments of €5 million ($6.88 million). The firm seeks a minority and majority stake in its portfolio companies and usually does not hold more than 35%. It seeks a seat on the board of its portfolio companies and may co-invest in infrastructure projects. The firm seeks to invest in equity, quasi-equity including mezzanine, subordinated loans, convertible loans and medium and long-term loans. Loan maturity for private enterprises and financial sector may vary between 3 to 10 years, with a maximum grace period of 3 years and up to 15 years, with a maximum grace period of 3 years for infrastructure projects. Belgian Investment Company for Developing Countries SA/NV-BIO was founded in 2001 and is based in Brussels, Belgium with additional offices in Nairobi, Kenya and Abidjan, Ivory Coast.