Vulpes Investment Management Pte Ltd, a Singaporean venture capital firm announced that it has launched a Myanmar-focused venture capital fund that will invest in early-stage technology startups.
The new entity is known as Vulpes Innovative Myanmar Investment Company (VIMIC Limited) and will commit to making seed and Series A investments.
“We are starting small, and we will grow our assets under management as the startup community continues to mature in Myanmar,” explained Field Pickering, the director of VIMIC Limited.
As a matter of fact, VIMIC has already made two seed investments in logistics startups KarGo and freelancing marketplace Chate Sat.
Chate Sat had participated in tech hub Phandeeyar’s accelerator programme, and to date connects more than 700 businesses and 4000 freelancers. The company notes that it will use the funds from VIMIC to expand its presence outside Yangon and Mandalay.
Founded in 2011 by Stephen Diggle, Vulpes Investment’s predecessor was known as Artradis Fund Management – one of the largest and most successful hedge funds based in Asia between 2002 and 2011.
Other active venture capital firms in Myanmar also includes Anthem Asia, BOD Tech, Frontier Digital Ventures, and Globalway Ventures.