Anthem seeks up to $50m for Myanmar fund

The International Finance Corporation (IFC) has indicated that it intends to invest $7.5 million in the fund. According to a release, this will be supported by a parallel IFC program focused on at-risk and conflict-affected countries that will make up to $7.5 million of equity co-investment alongside Anthem.

Founded in 2012, Anthem focuses on urban consumer demand in Myanmar through B2C and B2B investments. The firm typically makes commitments of $100,000 to $1.5 million. The new fund is expected to focus on businesses in the IT, food, education, and transportation sectors.

Previous investment activity includes creative digital agency Revo Tech and Xavey, a mobile data collection platform that works with groups conducting research and surveys. In 2016, Anthem made a commitment of undisclosed size to Rangoon Tea House, a restaurant undergoing expansion in Yangon's downtown heritage quarter.

Myanmar has attracted increased private equity interest in the last few years as a result of governmental liberalizations. In the more recent term, sentiment around the country as an investment jurisdiction has faced pressure due to a military crackdown on the Rohingya people, a stateless minority group concentrated near the Bangladesh and India borders.

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• Topics
• Southeast Asia
• Consumer
• Technology
• Fundraising
• Growth
• Myanmar
• Anthem Asia
• IFC
• Growth capital
• Venture