Vulpes to close Myanmar focused VC fund by July, to invest in tech, startups

Photo: Juliet Shwe Gaung.

Singapore based Vulpes Investment Management Pte Ltd is planning to close their Myanmar-focused fund by the end of July this year. Following the close of the fund, it will looking to invest in tech companies and startups

VIMIC is an investment vehicle launched by Vulpes Innovative Myanmar Investment Company (VIMIC) to invest in Myanmar. Vulpes was earlier known as Artradis Fund Management – which was founded in 2001, by Stephen Diggle and Richard Magides.

After the first close of its fund, VIMIC announced that it had made seed investment in two start-ups from Myanmar – in KarGo, a logistics startup and Chate Sat, an online platform connecting businesses and freelancers. The amount of investment was not disclosed by the company.

“We will spend the summer (until July) speaking with other investors in our circle to make sure we are not leaving anyone out. Once we close this first phase we will see how successfully we can find good companies and good founders in Myanmar,” said Field Pickering, director of VIMIC Limited to DEALSTREETASIA.

Taking into consideration the fact that the Myanmar market still has room to mature, the investment firm is looking to make investments of a ticket size of up to $250K in the beginning. The fund is open to the idea of making follow-on investments in those investee companies that achieve their growth plans, said Pickering.

“All of the investors share one thing, a desire to be part of the growth in Myanmar. With limited low-cost options to put money to work in Myanmar and get a front row seat to the growth of the country, VIMIC presents a unique opportunity to sit alongside Vulpes as it invests in the growth of the country,” said Pickering.

They’re particularly interested in making investments in “technology companies, which are enabling the economic and developmental growth of Myanmar.”

“We want to invest in these companies having the greatest impact on enabling growth through technology in Myanmar,” he said.

“We are more focused on finding the right teams in these frontier markets than anything else. If we can find great Founders bringing an impactful technology solution to Myanmar it makes investing easy,” he said.

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