Daiwa Securities to Set Up Fund for Startups in Myanmar

Economy

Tokyo, July 12 (Jiji Press)--Japan's Daiwa Securities Group Inc. <8601> will shortly set up a fund for startups in Myanmar, informed sources said Friday.

The brokerage group was involved in the establishment of the Yangon Stock Exchange in 2015. The number of listed firms on the exchange, however, totals only five.

The group aims to increase the figure by fostering startups through the fund.

The total size of the fund is expected to reach some 30 million dollars. Its investors will include Tokyo-based Taiyo Life Insurance Co., which runs life insurance business in Myanmar.

The fund will be in operation for some 10 years, pouring one million dollars into each startup.

[Copyright The Jiji Press, Ltd.]

Jiji Press