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.