Investors in Myanmar

Myanmar Investments International Limited is no longer investing. It is a venture capital and private equity firm specializing in investments in start-up, expansion capital, and buyouts stages. The firm prefers to invest in equity, quasi-equity or debt instruments. Its investments are classified into core holdings and financial holdings. It does not focus on sectors like large real estate development, infrastructure development and exploration and production of natural resources. The firm prefers to invest in companies in hard infrastructure including telecoms, power, waste water treatment utilities, and transportation; soft infrastructure including financial services, education, and healthcare; manufacturing; tourism; agriculture; consumer goods and services; logistics; distribution, telecommunications, entertainment, business to business, and retailing sectors. It invests in companies, businesses, or assets based in Myanmar or the companies with business exposure to Myanmar. The firm invests between $5 million and $25 million in its portfolio companies and may invest outside this range in exceptional cases. It may acquire majority or minority shareholdings in portfolio companies. The firm may also invest through contracts that grant an economic interest in an asset. It may also invest in greenfield businesses. It seeks to participate in the management process through board representation in the portfolio companies. The firm would continue to hold the investments in core holdings and would seek to monetize the investment within five to seven years in financial holdings. It prefers to exit its investments through listings in Myanmar or on suitable overseas stock exchanges, trade sales or share swaps. Myanmar Investments International Limited was founded in 2013 and is based in Yangon, Myanmar with additional offices in Singapore and Road Town, British Virgin Islands.

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.

Four Rivers is a private equity firm. The firm specializes in emerging markets. The firm seeks to invest in in Russia, India, Iraq, and the UAE. Four Rivers is headquartered in Myanmar.

Abler Nordic AS is a private equity and venture capital firm specializing in direct, and fund of funds investments in emerging, early stage, mature, and startup companies. The firm also prefers to invest in Debt, Sub-Debt and Equity instruments of microfinance institutions. It prefers to invest in young & emerging MFIs that have a clearly stated social mission and that have reached financial sustainability or have good prospects for attaining financial sustainability within the next few years. The firm also invests in other institutions providing financial inclusion to the poor in developing countries. It may in special cases invest in MIVs that focus on such institutions. The firm typically invests in companies based in Latin America, Sub-Saharan Africa with focus on Angola, Cameroon, Ethiopia, Ghana, Kenya and Ivory Coast, Malawi, Mozambique, Rwanda, Zimbabwe, Madagaskar, Zambia, Mali, Nigeria, Senegal, Tanzania, Uganda, Asia focusing on South and Southeast Asia, Nepal, Sri Lanka, Cambodia, Myanmar, Philippines, Indonesia, India, and Pakistan. It may also consider investments outside of these focus countries. The firm prefers to invest between $1 million and $8 million in companies with minimum total assets of $1 million. It prefers to take both minority positions in its investments and be an active investor. For equity investments, it prefers to take a stake of 10-30% in its portfolio companies. The firm seeks to take up governance positions in the board of the MFI or committees under the board. Abler Nordic AS was established in October 2008 and is based in Oslo, Norway with additional offices in Copenhagen, Denmark; Nairobi, Kenya, Tangerang, Indonesia & Bengaluru, India.

Silicon Straits is an incubator and venture capital firm specializing in early stage. It seeks to make investments in technology sector. The firm seeks to invest in Asia and the Middle East with a focus on Myanmar. Silicon Straits was founded in 2010 and is based in Singapore with an additional office in Saigon, Vietnam.

Pix Vine Capital (PixVC) is a Singapore-based Investment House providing early-stage venture capital to startups aspiring to commercialize innovative solutions in the areas of Info-Tech, Med-Tech and Eco-Tech. PIxVC has a High Risk – High Return philosophy and pursues an investment model with strong collaborative partnerships with other investors, incubators and accelerators. It has to date has invested in 40 plus promising, high technology ventures across Israel, Singapore, China, India, Malaysia, Vietnam, Myanmar and Thailand. Our core objectives are to attract startups and entrepreneurs with disruptive solutions and ideas about creating technology advances, to equip them with the networks they need to bolster their go-to market strategies, to propel our startups through to successful exist and to bridge cross-border startup and investor ecosystems.

BOD Tech Ventures is a venture capital firm specializing in early stage companies, startups and seed and post seed funding. The firm considers investments in tech-based businesses within logistics, micro-retail, travel, finance, education, food delivery, O2O, publication, Internet companies, software development, people development, social development, nation development, omni-channel e-commerce and SaaS. The firm seeks to invest in companies based in Vietnam, Myanmar, Bangladesh, and Cambodia. BOD Tech Ventures was founded in 2014 and is based in Yangon, Myanmar.

Insitor Management is a venture capital firm specializing in equity, debt and mezzanine financing. The firm provides developmental capital to startups and early-stage social businesses. It is a social venture capital fund that provides funds to social entrepreneurs. The firm invests in companies that provide low income households in emerging countries with increased access to key products and services. It also invests in nontraditional MFIs, with particular interest in those providing microfinance solutions to housing sector. It invests in social enterprises operating in access to energy, water, housing, health, and education in the Mekong Delta and Indian Subcontinent. The firm also provides loan and typically invests between $0.1 million and $0.5 million in its portfolio companies. It also co-invests with an investment timeframe of five to seven years. The firm prefers to take board membership in its portfolio companies and also prefers to be lead investor. It offers both business development and social impact expertise to the companies in which they invest. Insitor Management, was formerly known as Insitor Fund, was founded in 2015 and is based in Phnom Penh, Cambodia with offices in Yangon, Myanmar; New Delhi, India; and Singapore, Singapore.

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.

Emerging Markets Entrepreneurs is a venture capital firm specializing on early stage and startups. The firm is sector agnostic. It prefers to invest in Myanmar. It prefers to make equity investments between USD 0.05 million to 0.25 million. Emerging Markets Entrepreneurs was founded in 2018 and is based in Yangon, Myanmar.

Mizuho Asia Partners Pte., Ltd. is the private equity arm of Mizuho Corporate Bank, Ltd. specializing in investments in middle market, buyout, growth capital, mid-tier and small and medium-sized enterprises (SMEs). The firm focuses on commercial services and supplies, education services, healthcare and financial services. It invests in companies based in ASEAN-region in countries such as Indonesia, Myanmar, Malaysia, Thailand, Singapore and others to support the business expansion of Japanese companies into the region. Mizuho Asia Partners Pte., Ltd. was founded on March 2012 and is based in Singapore.

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.

The Swiss Investment Fund for Emerging Markets is a private equity and venture capital firm specializing in direct and fund of fund investments. The firm directly invests in mezzanine, middle markets, buyouts, mid to late venture, emerging growth, growth capital and in financial institutions with a small and medium enterprise or microfinance lending focus. It makes fund of fund investments in private equity fund, mezzanine funds and venture capital fund. The firm primarily invests in Healthcare, Education, Energy, water and resource, Business Activities and services including wholesale and retail trade, Infrastructure, Renewable Energy, Generalist, Financial service, Agribusiness, Aquaculture, Forestry, SME Development, Communication Services, manufacturing industry, transport & storage, Information & Communication Technology and consumer goods. The firm typically invests in countries whose GNI per capita is below the World Bank's IBRD graduation threshold. It seeks to invest in Latin America with a focus on Bolivia, Columbia, Central America, Cuba, and Haiti Peru; Sub Saharan Africa with a focus on Benin, Burkina Faso, Chad, Ghana, Greater Klakes Region, Horn of Africa, Mali, Mozambique, Niger, South Africa, SADC Region, and Tanzania; Middle East and Africa with a focus on Egypt, Jordan, Morocco, Occupied Palestinian Territory, and Tunisia; Southern and Eastern Europe, and CIS with a focus on Albania, Armenia, Azarbaijan, Bosnia, Georgia, Kazakhstan, Kosovo, Macedonia, Moldova, Serbia, Tajikistan, and Ukraine; and Asia with a focus on South-East Asia, Afghanistan, Bangladesh, Cambodia, Indonesia, Lao DPR, Mongolia, Myanmar, Nepal, Pakistan, Sri Lanka, and Vietnam. The firm invests at least 60 percent of its investment volume in any year to these priority countries. In cases of regional or global funds, the geographical criteria is fulfilled if at least 50 percent of fund or financial institution investment is made in the priority countries. Its primary focus is on institutions investing in the small and medium enterprise sector along with selective investments in microfinance and infrastructure projects. The firm seeks to invest between $2 million and $40 million in funds. It sources its capital through institutional investors. The firm prefers majority stakes. The firm invests in the form of loans and other debt instruments including secured or unsecured, subordinated, convertible or equity linked; direct equity or quasi-equity investments; and guarantees. It may also act as co-investor in the underlying portfolio companies of its private equity funds. The Swiss Investment Fund for Emerging Markets was founded in 2005 and is based in Geneva, Switzerland with additional offices in Bern, Switzerland.

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.