Phnom Penh-based private equity investment manager Belt Road Capital Management (BRCM) announced a $4 million investment in the regional telecommunications industry, a statement released on Thursday said.
“The telecommunications industry, heavily dependent on legacy carriers, has by and large been able to resist the advances of challengers and innovators. But that’s about to change,” it said.
Recognising the opportunity to disrupt a $4 billion roaming market, BRCM made a strategic investment in Unnitel, a next-generation data and mobility solution provider that has already gained traction in the market with its WeRocket brand.
“This is BRCM’s first investment into the telecommunications space. We are very excited to work with experienced telecommunications operators,” said Alex Odom, BRCM chief investment officer.
“We see huge potential in this sector as demand for data continues to soar in Southeast Asia,” he said.
David Milroy, the executive chairman of Unnitel, said it will be a learning experience and they are very excited to partner with BRCM.
“BCRM is quick to understand how we are taking ground-breaking technology and turning it into a range of products and services that reimagines the possibilities of global connectivity and mobility for the frequent traveller,” he said.
In future, Unnitel will look to actively sell its devices directly to Cambodian customers and will be looking to partner leading local telecoms companies.
In January, BRCM partnered with and invested $1.8 million into Digital Classifieds Group, the company behind realestate.com.kh, the Kingdom’s leading property portal.