Anthem invests in Myanmar mobile data collection platform

The company was established in December 2013 by entrepreneur Aung Sithu Kyaw. In a country where raw data is often hard to collect or out of date, Xavey tracks local consumers' attitudes, habits and spending patterns through field surveys using mobile devices. This information is used by a number of market research and non-government organization (NGO) clients.

Anthem has taken a minority stake in the business, which is registered in Singapore but run out of Yangon. It is committing a six-figure sum as the first phase of an investment that will see it become the largest minority shareholder in Xavey.

"We are delighted to back Aung and team and their ambitious plans to roll out a range of exciting new products that will make conducting surveys and undertaking research easier and more efficient," said Genevieve Heng, co-founder and director of Anthem. "The Xavey platform gives clients the data they need to make smart decisions that will guide the development of Myanmar as it becomes a significant Southeast Asian market in the coming years."

Anthem was set up by Heng and Josephine Price in early 2012 with Genevieve Heng. Both are former executives with CLSA Capital Partners Asia. Working with an evergreen pool of capital raised from high net worth individuals and family offices, the firm makes investments of $100,000 to $1.5 million in small- and medium-sized businesses.

The first deal came in 2013 with a commitment of around $1 million to office rental firm Hintha Business Centers. Anthem has also backed Blink, a PR and digital marketing agency, Thahara, a tourism and property platform, and Zagar Communications, which provides marketing and communications services to foreign clients in Myanmar.

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• Topics
• Technology
• Southeast Asia
• Expansion
• Myanmar
• Southeast Asia
• Growth capital
• Anthem Asia
• Technology