Silk Road to invest in Myanmar Fund
Silk Road Management, an investor in frontier markets, will take stakes in three Myanmar projects by year-end, the first private-equity deals in Southeast Asia's poorest nation as it emerges from five decades of isolation. The Myanmar Human Capital Fund closed in September after raising $25 million from family offices and wealthy individuals from Mongolia, Russia and oil-rich countries in the Caspian region, said Alisher Ali, managing partner at Silk Road. The fund will invest in so-called knowledgedriven industries such as the Internet, information technology, education and health care, he said, declining to identify the companies. "Myanmar's gross domestic product may easily double within five years," Ali said in an interview by phone from HK on Oct. 31.