By Juliet Shwe Gaung
Seed Myanmar has led a five-digit dollar investment in MMTutors while Switzerland-based Seedstars will invest $1.1 million to develop the Yangon Innovation Center.
Prior to the latest funding agreement, BRAC raised the first financing tranche of $1.3 million from Yoma Bank in March.
The fund hit its first close at $34.5 million in August, with commitments from IFC, the Dutch Good Growth Fund and UK state-owned CDC Group plc.
The pre-Series A round was led by former Dymon Asia Capital COO Willy Ballmann and former investment banker Keizo Fujitake.
Following the deal, SEIN will be rebranded as Pun Hlaing Siloam Hospital.
Given the robust pipeline across the three markets, EMIA is also looking to increase the capital for its second fund.
Post acquisition, MyJobs.com.mm joins Ringier’s existing portfolio platforms in Myanmar: Duwun.com.mm, Marry.com.mm and Kalay.com.mm.
UMJ Ikeya Investment Ltd has anchored a new investment vehicle, Emerging Markets Entrepreneurs (EME) Myanmar, with an initial corpus of nearly $3 million to invest in startups in the frontier market.
The financing will be used for the development of the SIGMAR submarine cable network, that spans 2,200 km connecting Yangon to Singapore.
TPG has acquired tower operator Pan Asia Majestic Eagle and plans to merge it with portfolio company Apollo Towers.