Delta Capital Myanmar injects additional $30 m in Internet company Frontiir
The leading Myanmar-focused private equity fund manager Delta Capital Myanmar (DCM) has put in additional capital in local internet service firm Frontiir along with two of its limited partners as co-investors, DealStreetAsia reported citing a press statement. The two co-investors are IFU from Denmark and Norfund from Norway. Frontiir is one of the largest internet service providers in Myanmar offering wireless broadband and fiber to home internet access to individuals and companies. UK-based development finance institution CDC Group, which is also an LP in Delta Capital Myanmar, had announced a $30-million direct equity investment in Frontiir in July this year. DCM’s investment is being done through Myanmar Opportunities Fund II (MOF II), according to the news agency. Frontiir will use the proceeds for working capital and for network expansion.