IFC to invest in Southeast Asia frontier markets fund

The fund, Cambodia-Laos-Myanmar Development Fund (CLMDF) II, has a target of $70 million. It follows the firm's previous fund, Cambodia-Laos Development Fund, which launched in 2009 and closed in 2011 at $20 million. Like that vehicle, CLMDF II will seek investments in small and medium-sized enterprises (SMEs) on a sector-agnostic basis.

IFC, which also invested $2 million in the previous fund, will take a seat on the advisory committee for CLMDF II, according to a disclosure. It will focus on helping the manager expand into Malaysia, a market that has little experience with risk capital funds, and on strengthening the GP's back office operations.

EMIA pursues investments in innovative companies with strong commercial opportunity and socially responsible management. AVCJ Research has records of four investments by the firm, all in Cambodia; the most recent is a commitment of an undisclosed size to casual dining restaurant chain operator Park Café in January.

IFC's interest in the new fund's Myanmar aspect is in line with its development goals in the country. In March the group proposed to extend $21 million in loans to four to six microfinance institutions (MFIs), and last month it committed up to $7.5 million in equity and debt to agriculture-focused MFI Maha Agriculture Public.

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• Topics
• Southeast Asia
• Venture
• Fundraising
• GPs
• LPs
• Cambodia
• Laos
• Myanmar
• IFC