Delta Cap­i­tal Myan­mar in­jects ad­di­tional $30 m in In­ter­net com­pany Fron­tiir

Mizzima Business Weekly - - BUSINESS ALERTS -

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.

Newspapers in English

Newspapers from Myanmar

© PressReader. All rights reserved.