Ascent Myanmar Growth Fund I L.P. (ADB-52180-001)

Countries
  • Myanmar
Where the impacts of the investment may be experienced.
Specific Location
National-wide
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
Financial Institutions
  • Asian Development Bank (ADB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Bank Risk Rating
C
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Dec 11, 2018
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
Ascent Myanmar Growth Fund I L.P.
The holder of the loan, grant, or other investment.
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Equity
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 10.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 10.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Corporate Actor Documents
Primary Source

Original disclosure @ ADB website

Updated in EWS Sep 16, 2019

Disclosed by Bank Dec 13, 2018


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Project Description

According to the bank document, “An equity investment of up to $10 million in Ascent Myanmar Growth Fund L.P. (_AMGF_), a targeted $100 million Myanmar-focused private equity fund ($150 million hard cap). The fund will invest primarily equity capital for growth purposes in middle-market companies, including small and medium-sized enterprises (SMEs), operating in Myanmar.

Focus sectors include consumer, education, financial services, health care, and technology, media and telecommunications. Investing in AMGF will allow the Asian Development Bank (ADB) to contribute to Myanmar's economic growth while providing development benefits, including supporting female entrepreneurs.

The proposed investment will help deepen capital markets in Myanmar by providing scarce growth equity capital to Myanmar's middle-market companies, including SMEs. Moreover, ADB's investment is expected to catalyze private sector investment into Myanmar and encourage international best practices of investment”.

Investment Description
  • Asian Development Bank (ADB)

Ordinary capital resources  USD$ 10.00 million

Private Actors
Contact Information

*There is no further information being revealed at this stage of the project*

ACCOUNTABILITY MECHANISM OF ADB

The Accountability Mechanism is an independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an Asian Development Bank-financed project. If you submit a complaint to the Accountability Mechanism, they may investigate to assess whether the Asian Development Bank is following its own policies and procedures for preventing harm to people or the environment. You can learn more about the Accountability Mechanism and how to file a complaint at: http://www.adb.org/site/accountability-mechanism/main