Greater Mekong-focused BRCM invests $4m in Cambodian mobile startup Unnitel

Sunrise on the Mekong river. Credit: Flickr/Fredrik Thommesen

Belt Road Capital Management (BRCM), a Greater Mekong focused private equity firm based in Cambodia, has announced a $4 million investment in Unnitel, Asia-based mobility virtual network provider, according to a statement.

The deal marks BRCM’s first investment in the telecom sector.

Unnitel, with its brand WeRocket, will use the proceeds to expand its geographical presence. With offices in Hong Kong and Singapore, Unnitel is looking to expand its footprint to India, Malaysia and Indonesia.

The company hopes to cover at least another five Asian markets by another year and a half, targeting enterprises, small and midsize business market and the travel industry.

“We are very excited to work with experienced telecommunication operators in David Milroy and Kee Boon Hian. We see huge potential in this sector as demand for data continues to soar in Southeast Asia,” said Alex Odom, chief investment officer of BRCM.

Unnitel, which offers mobile wi-fi devices and services, plans to launch its flagship product that will offer free unlimited data in over 90 countries for two years, eliminating all roaming charges.

Unnitel technology and services reimagines the possibilities of global connectivity and mobility for the frequent traveler, said David Milroy, executive chairman of Unnitel.

In January 2018, BRCM invested $1.8 million in Cambodian property portal and marketing agency Digital Classifieds Group (DCG) which backs Realestate.com.kh. In April, it invested $7 million in Oway Group, a leading travel company from Myanmar, as part of a $14.7 million financing round.

Also Read:

Myanmar’s Oway raises $14.7m from IFC, Daiwa, others

Mekong-focused Belt Road Capital injects $1.8m in Digital Classified Group for SEA push

 

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. 
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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.