The International Finance Corporation (IFC) has completed its $7.5 million investment into Singapore-based private equity firm Emerging Markets Investment Advisors (EMIA), according to online business intelligence platform DealStreetAsia.
EMIA manages the $65 million Cambodia Laos Myanmar Development Fund II that aims to invest into small- and medium-sized enterprises.
The IFC’s equity commitment was capped at 20 percent of the fund, with other investors including Norfund, Finnfund, the Ministry of Foreign Affairs of the Netherlands and the Swiss Investment Fund for Emerging Markets.
To date, EMIA has a portfolio investment into the Cambodian microfinance institution AMK, the Battambang rice producer BRICo and iCare Benefits Cambodia. It has also invested in Planet Online, an internet service provider in Laos.