IT & Communications Business Startup

OOCTANE looking for "late-stage investment opportunities"

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Cambodian venture capital firm, OOCTANE, is searching for "late-stage investment opportunities" in the Kingdom. OOCTANE is a Cambodian venture capital (VC) firm that is part of WorldBridge Group. Their aim is to invest in local Cambodian technology startup firms and form partnerships with incubators and accelerators. Company general partner Tapas Kuila told DealStreetAsia that "Its targets are 'good revenue-generating businesses' that have strong unit economics, with 'clear traction, growth strategy and road to profitability". He added, "In general, we add value by adopting a hands-on approach with our portfolio companies by playing a very operational and advisory role for them as per their needs." OOCTANE closed its debut US$55 million Cambodia Investment Fund in late 2018 with a mandate to invest in technology-enabled businesses founded in Cambodia, looking to expand into Cambodia, or founded by Cambodians anywhere in the world.” In 2020, they announced their partnership with Cambodian food delivery startup, Muuve. Nikkei Asia reports that "While there has been a lull in terms of investment activity due to the COVID-19 crisis, Ooctane claims to have spent a considerable amount of time last year advising and assisting its portfolio companies on how to survive the onslaught of the pandemic." With the current political situation in Myanmar, Cambodia is one of the countries expected to benefits if investors shift their capital. Andrew Durke, COO of Obor Capital, told DealStreetAsia I expect a lot of investors that leave Myanmar to shift from a Myanmar-only strategy to a regional strategy." Obor Capital has invested in five Cambodian businesses and one Vietnamese company.  "Examining the characteristics that make Myanmar attractive to investors, I think Cambodia is the most similar [to Myanmar]."

Investment Funds in Cambodia

According to the article by Nikkei Asia, the following are active in the VC space in Cambodia: Other firms operating in private equity, are:
  • Emerging Markets Investment Advisers
  • Belt Road Capital
The "Startup Kingdom: Cambodia's Vibrant Tech Startup Ecosystem in 2018" report claims there are "over 300 active technology startups operating at various stages of development."