Mekong-focused Belt Road Capital invests $5m in Cambodia’s Groupin

Co-founders and investors of Groupin. Photo: Groupin

Greater Mekong-focused private equity firm Belt Road Capital Management (BRCM) has announced a $5 million Series A financing in Cambodia-based internet startup Groupin – the holding company of e-commerce platform Little Fashion and digital media firm Mediaload.

The startup aims to expand further as a regional internet company, taking part in the growth of the e-commerce and online media market of Southeast Asia.

“We will invest in mobile technology, logistics, product vertical expansion and customer support to turn L192 [now Little Fashion] into the region’s most customer centric marketplace platform. We believe our digital media business model needs to evolve into a content aggregator app,” said Groupin CEO Vichet In in a statement.

Founded in late 2010 as a Facebook retailer for fashion wear and lifestyle products through an online platform L192, Little Fashion has got 1.6 million followers on Facebook.

Meanwhile, the company claims that its content platform, Khmerload in Cambodia and Myanmarload in Myanmar that covers topics from entertainment to sports has gained 8 million monthly users and 20 million social media followers.

In a previous financial round, Mediaload raised $200,000 in seed funding from 500 Startups in 2017.

The startup is run by its a team of co-founders, also siblings, Vichet In, Vichea In, Visal In and Mayan In.

“We see huge potential in this marketplace. Bringing Mediaload together with the e-commerce platform allows for significant synergies and access to millions of potential customers in both Cambodia and Myanmar,” said Alex Odom, Chief Investment Officer of BRCM.

Last month, DEALSTREETASIA published an exclusive report that BRCM is targeting up to $100 million for its second fund, double the size of its first fund. Other portfolio companies of BRCM across the Mekong region include Digital Classifieds Group, Oway, WeRocket, Unnitel, Sabay Digital and Vietnam’s Tima and LeFlair.

Also Read:

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

Exclusive: Mekong-focused Belt Road Capital targets to raise $100m second fund

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.