The fund in Myanmar will probably be structured as a non-banking financial institution without a close end.
Memories Group has acquired 15.28% in Strand Hotel that has interests in three hotels and The Strand Cruise in Yangon.
This comes six months after Rent 2 Own raised $6 million from investors including agRIF, a fund managed by Incofin.
Yoma Fleet is Myanmar’s industry leader in auto leasing and car sharing for both corporate customers and individuals throughout the country.
Daung Capital extends credit for the purchase of products like motor vehicles or electronics through a rent-to-own model.
MyanCare Telemedicine, a healthtech company, has raised an undisclosed pre-Series A funding from Japan’s SPARX Investment Group.
The capital will be used to expand the company’s warehousing facilities and allied services in Myanmar.
The financing will help BRAC Myanmar provide more loans and increase financial inclusion in Myanmar.
However, the approval for foreign banks to invest in the country is not expected to be a game changer in the immediate short term.
The proceeds from the fresh funding will be used for business growth.
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