EME Myanmar takes significant minority stakes in CarsDB, Joosk

Myanmar-focused early-stage venture firm Emerging Markets Entrepreneurs (EME) Myanmar, has taken a significant minority stake investment in CarsDB, an online platform for trading new and used cars, and Joosk Pte Ltd, a digital animation and illustration company, according to an announcement.

The new fund, EME Myanmar, was launched last month by UMJ Ikeya Investment Ltd, a Myanmar-focused investment firm with backers including Emerging Markets Investment Advisors (EMIA), United Managers Japan, the Dutch Good Growth Fund and Singapore-based angel investor, Dr Yit Fan Wong.

This portal previously reported that EME Myanmar, with an initial corpus of nearly $3 million, is looking for investments with a ticket size of between $50,000 and $200,000 with options to make follow-on rounds in promising companies.

The investment in CarsDB is a joint investment between EME Myanmar, which led the round, and another investor.

In 2014, the classifieds portal secured its first round from Australian-listed investment firm Frontier Digital Ventures.

“EME will help CarsDB grow by providing key consultation on financial modeling, data science and strategy for new product launches,” as mentioned in the release.

EME is also looking to leverage on its partners, Oway for vehicle hire, and GL AMMK, which owns exclusive rights to finance Honda bikes in Myanmar, for auto financing.

Oway, GL-AMMK and Bagan Innovation Technology are among the investments of UMJ Ikeya.

Joosk –  known for its animation series Gwen University and Bee Bee and Friends – has previously received investment from Ikeya Capital Management. Its clients include institutions like World Bank, UNICEF and WFP.

EME Myanmar is looking to support Joosk with business development, financial analysis and B2B sales. EME said it  will facilitate the digital distribution of Joosk’s upcoming app through the platforms of Bagan Innovation Technology.

Other early-stage investment firms like Seed Myanmar, Rockstart Impact and Seedstars are among those aiming to support the development of the startup ecosystem of Myanmar.

Also Read:

UMJ Ikeya backs new investment vehicle targeting startups in Myanmar

Myanmar digital content provider BiT raises seven-digit sum led by UMJ Ikeya

Myanmar-focused UMJ Ikeya scouts for scalable startups, mulls follow-on rounds

 

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.