<article>Myanmar focused private equity firm <a href="http://www.dealstreetasia.com/?s=Delta+Capital+Myanmar" target="_blank">Delta Capital Myanmar</a>, has achieved the first close of $30 million for its second fund that is targeting to raise $100 million by mid-2017, a top company executive told this portal.</article>

Myanmar focused private equity firm <a href="http://www.dealstreetasia.com/?s=Delta+Capital+Myanmar" target="_blank">Delta Capital Myanmar</a>, has achieved the first close of $30 million for its second fund that is targeting to raise $100 million by mid-2017, a top company executive told this portal.
Delta Capital&#8217;s second vehicle &#8211; Myanmar Opportunities Fund II &#8211; has seen investment from four leading European family offices (Industrialists), two Asian families that are into real estate and financial services as well as its sponsors, its managing partner Nick Powell said.
Powell is also the director of <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=Simon+Murray+%26+Company" target="_blank">Simon Murray &amp; Company</a>, and has over 10 years of experience in Asian investment banking, including having done a stint with the corporate finance division of <a href="http://www.dealstreetasia.com/?s=Nomura+International" target="_blank">Nomura International</a>.
Delta Capital Myanmar was formerly known as Pun Murray Myanmar Partners (<a href="http://www.dealstreetasia.com/?s=PMM+Partners" target="_blank">PMM Partners</a>), and of its sponsors is <a href="http://www.dealstreetasia.com/tag/serge-pun-associates/" target="_blank">Serge Pun &amp; Associates</a> (SPA) a leading business conglomerates engaged in businesses including property development, banking &amp; mobile financial services, food &amp; beverages and healthcare.
Another sponsor is Simon Murray &amp; Company (SMC), a pan-Asian investment company that has total asset under management of over $1.5 billion.
Delta Capital Myanmar is hoping to complete the total $100 million fund by May 2017.
“We are in developed discussions with some DFIs (Development Finance Institutions) who have a mandate to invest in Myanmar and other families/ corporates that have shown interest in the opportunity,” Powell added in an email interaction with DEALSTREETASIA.
In addition to Delta Capital, several other Myanmar-centric private equity firms are now raising their funds. Singapore registered Golden Rock Capital had announced in July that it raised $20 million for its $100 million fund. Golden Rock has already made its first investment from this fund in the personal care space. Credera Group from Singapore that is aiming to raise $100 million by 2017, plans to make investments in two green field projects in the manufacturing sector, and is also looking at the financial service sectors.
Another Myanmar focused firm is named Myanmar Investment Group which does not have  a specific fund raising. However, they have already decided a 40 percent stake for a venture investment in building cinemas around Myanmar. The $20 million project is to be handled together with Maze, their local partner.
As per information on its website, Delta Capital Myanmar provides growth capital for leading entrepreneurs and businesses in the country. The firm has stated that its investment strategy is to capture the investment potential across Myanmar’s rapid expanding economy.
Delta Capital was among the first movers in the PE space in Myanmar, and was formed in 2013 by Hong Kong based SMC and Myanmar based SPA. Its  first fund &#8211; Myanmar Opportunities Fund I, L.P. &#8211; was launched in May 2013, and has over US$50 million of committed capital, and has made investments in sectors including consumer, telecommunications, manufacturing, diversified industries and energy &amp; resources.
Other sectors that the firm is interested in include technology, consumer products &amp; services, banking &amp; financial services, health care and hospitality &amp; tourism.
Powell said that it was too early for the firm to have finalised specific investment plans for the second vehicle.
Also Read:
<a style="color: #ff0000;" href="http://www.dealstreetasia.com/stories/singapores-credera-group-sets-up-100m-pe-fund-target-by-2017-51815/">Singapore’s Credera Group targets to close $100m Myanmar fund by 2017</a>
<a style="color: #ff0000;" href="http://www.dealstreetasia.com/stories/golden-rock-capital-completed-20-m-of-raising-fund-on-process-for-more-48337/">Myanmar-centric PE Golden Rock Capital raises $20 m for its $100m fund</a>
<a style="color: #ff0000;" href="http://www.dealstreetasia.com/stories/yoma-strategic-signs-to-sell-50-m-though-rto-of-shc-capital-asia-56218/">Yoma Strategic spins off $50m Myanmar tourism business via RTO of SHC Capital Asia</a>
<a style="color: #ff0000;" href="http://www.dealstreetasia.com/stories/myanmar-slowly-adapts-to-embracing-financial-investors-52936/">Myanmar slowly adapts to embracing financial investors</a>
&nbsp;

Delta Capital Myanmar has fulfilled a seed round of over $30 million and on its way raising a full $100 million by mid 2017. 

Myanmar PE firm Delta Capital hits first close at $30m for second vehicle

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief

Myanmar PE firm Delta Capital hits first close at $30m for second vehicle

Continue reading this premium story with a subscription to DealStreetAsia.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief