Impact investor FMO committed $33.3m to Asia businesses in July

Sule Pagoda Road, Yangon, Myanmar. Photo: Arkar Phyo/Unsplash

Dutch impact investor FMO committed a total of $33.3 million in July to businesses that operate in Asia’s developing economies that are expected to be hit hard by the pandemic, according to its latest transaction overview.

The commitment was part of the more than $300 million that the impact investor allocated to companies globally as part of its business continuity program in the wake of the COVID-19 pandemic.

“It is precisely now, during these times of crisis, that is it important to continue to invest in developing economies that are expected to be hit hard by the pandemic,” the firm said.

In July, FMO committed $20 million to North Haven India Infrastructure Fund (NHIIF), an Indian private equity fund managed by Morgan Stanley Investment Management.

The fund focuses on investments mostly in private companies building the physical and societal infrastructure required to enable large groups of population in India to benefit from economic efficiencies and improved services and social welfare.

FMO also co-invested $2.3 million in Mandarin Overseas Robotics Enterprise, one of the largest automotive parts manufacturers in Indonesia.

The investment, which is a top-up to the original investment made last year, aims to support Mandarin Overseas during the pandemic and ensure a smooth transition through the crisis, FMO said.

In Myanmar, the Dutch development bank provided a $6 million loan to existing client Maha Agriculture Public Company and a $5 million loan to Proximity, a microfinance company that is active mainly in the Irrawaddy delta areas in the country.

The loan to Maha Agriculture allows the MFI, which serves more than 40,000 clients, to continue providing financial services to farmers in Myanmar’s rural areas. FMO’s loan to proximity, meanwhile, helps ensure continued support to the livelihoods of the firm’s borrowers.

The Myanmar government has taken measures to control and limit the risk of spreading the coronavirus and ordered a lockdown over April, resulting in the complete closure of all economic activities, followed by physical restrictions hampering operations until 15 May.

“While local governments are working hard to minimize the impact on their people and economies, we are needed now more than ever. Hence, we continue to empower entrepreneurs in developing economies to build a better world and boost resilience to withstand the pandemic,” FMO said in its latest transaction overview.

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.