By Juliet Shwe Gaung
Individual investors, including Thng Tien Tat from Singapore, will take a minority stake in lieu of the investment.
Singapore-based Vulpes Investment Management recently undertook a rebranding exercise of its country-focused vehicle as Seed Myanmar to make early-stage technology investments.
Seed Myanmar will be structured as an open-ended fund after taking into consideration the challenge in deploying capital in Myanmar startups
The investment is like a bridge round before the company approaches investors for its Series B over the next six to eight months.
The deal paves the way for HGC to provide end-to-end solutions to local and overseas corporations and operators in Myanmar.
BRCM has so far announced three investments since January 2018 and has just completed its fourth undisclosed deal in the technology sector.
The local currency denominated loan is the seventh such deal that Yoma Bank has entered into with MFI players in Myanmar.
The new joint venture will acquire PAT, which sells organic vegetables under the brand name, UniVege.
As SE Asia’s fastest-growing economy began the transition from five decades of military rule to democracy with the swearing in of the first popularly-elected government in March 2016, western investors adopted a wait-and-see approach.
Telecom, energy and tourism sectors have been the biggest beneficiaries.