Myanmar-centric PE Golden Rock Capital raises $20 m for its $100m fund

Myanmar-centric Private Equity firm Golden Rock Capital, has raised $20 million, towards if $100 million fund, that will focus on consumer and service sectors, Marvin Yeo, founding partner of Golden Rock Capital, said in an interaction with this portal.

Golden Rock has already begun making investments from this fund. The first allocation was in the personal care space, in a company named Myanmar Personal Care, in the perfume market.

GRC is a PE fund registered with the Monetary Authority of Singapore that aims to provide equity or equity related capital to mid-sized growth companies related to Myanmar.

Based in Singapore and Yangon, the PE fund manager in mainly focused in investments such as services industries, consumer space, logistics and retail but not interested in making investments like in extractive industries or real estate.

“We are more than a provision of capital, we would like to help the businesses grow through the contacts and connections that we have,” Thura Soe Paing, originating Partner of Golden Rock Capital.

The fund is looking at investments between US$ 7 to 10 million, and at the same time, Golden Rock also said it was flexible on the size of investment.

As among the few private equity fund mangers in Myanmar, they are looking into the long run. “The most important thing is when we come as investors and advisors, we believe in the long term potential of the country we are not here just to make a quick buck. We believe in the country and the long term potential in the country,” Paing said.

“We don’t really have a particular need to exit investment in a very short time,” he added.

Also Read: 

Myanmar has no dearth of deals for PEs, but our interest is at SME level: Genevieve Heng, Anthem Asia

‘Myanmar is a land of opportunities & presents a long-term growth story’

Exclusive: There is a lack of risk capital for tech startups in Myanmar, says David Madden, Phandeeyar

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.