Ascent Starts Myanmar Private Equity Firm Backed by Temasek, ADB
- Ascent Myanmar Growth Fund has raised more than $50 million
- Fund will focus on domestic companies in consumer, education
Myanmar is one of Southeast Asia’s fastest-growing economies.
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Singapore’s Ascent Capital Partners Pte has launched a Myanmar-focused private equity fund backed by Temasek Holdings Pte and the Asian Development Bank.
Ascent Myanmar Growth Fund I has raised more than $50 million and is looking to add one or two more investors to reach $100 million in the coming months, Ascent co-founder Lim Chong Chong said in an interview. The fund is seeking to make two investments of between $5 million and $20 million this year and about another eight by 2023, he said.