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Japanese investment bank, Daiwa Securities Group has set up a US$30 million venture capital fund to foster local start-ups.
Daiwa subsidiaries, Daiwa PI Partners Co and Daiwa Corporate Investment Co have established Daiwa Myanmar Growth Fund partners with Japanese life insurer Taiyo Life Insurance Co to invest in local private firms, focusing on consumer goods as well as services, telecommunications, infrastructure and logistics industries by taking 10-30pc stakes from the companies. It will mature in 12 years with an investment period of five years. Daiwa PI Partners Co invested in Yangon-based E-Commerce platform, RGO 47 in March.
Source: The Myanmar Times