Myanmar-based early-stage investment firm Emerging Markets Entrepreneurs (EME) is planning to raise a further $20 million by the fourth quarter of 2021 to support its portfolio and invest in new startups, according to a top executive of the firm.
“This raising of $20 million will enable the company to continue to support its existing portfolio as it grows while also continuing to invest in startups that target mass markets and bring tangible value to Myanmar consumers and businesses,” EME investment manager Matthew Viner told us.
The firm currently invests out of an initial corpus of $3 million and cuts cheques between $50,000 and $250,000, with scope to make follow-on rounds. EME Myanmar typically picks up to 15 per cent stake in its portfolio companies.
Established in October 2018 by Myanmar-focused investment firm UMJ Ikeya Investment Ltd, EME focuses on putting equity in early- to growth-stage startups across Myanmar in tech and non-tech industries including education, agriculture, healthcare, logistics and e-commerce.
Investors who have participated in setting up EME include Emerging Markets Group Holdings (EMGH), United Managers Japan, the Dutch Good Growth Fund (through Triple Jump) and Singapore-based angel investor Dr Yit Fan Wong.
To date, EME Myanmar has made eight investments including baby products e-commerce and delivery provider Kyarlay, e-commerce startup Ezay, animation company Joosk Studio, car trading startup CarsDB, HR company Mote Poh, call centre service provider Lan Thit Masterpiece and local company producing high-quality solar-
Edited excerpts of an interview: