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 ($150 million hard cap). The fund will invest primarily equity capital for growth purposes in middle-market companies, including small and medium-sized enterprises (SMEs), operating in Myanmar.
Focus sectors include consumer, education, financial services, health care, and technology, media and telecommunications. Investing in AMGF will allow the Asian Development Bank (ADB) to contribute to Myanmar's economic growth while providing development benefits, including supporting female entrepreneurs.
The proposed investment will help deepen capital markets in Myanmar by providing scarce growth equity capital to Myanmar's middle-market companies, including SMEs. Moreover, ADB's investment is expected to catalyze private sector investment into Myanmar and encourage international best practices of investment”.
Ordinary capital resources USD$ 10.00 million
*There is no further information being revealed at this stage of the project*
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