Royal Golden Owls Co Ltd (RGO), the parent company of online e-commerce marketplace rgo47, announced yesterday that it has raised an undisclosed amount of funding from Daiwa PI Partners, a subsidiary of Daiwa Securities Group Inc. For Daiwa PI Partners, this will be the fifth private equity deal, as reported by Deal Street Asia.
The funding will be used for further expansion of the e-commerce marketplace business. DPI will also hold a board seat in RGO.
rgo47 was established in 2013 and currently is helmed by CEO Win Nander Thyke. The platform focusses on lifestyle and fashion products and it is said to have a network coverage across 230 cities in Myanmar.
Kazuyoshi Mizukoshi, managing director of the International Investment Department of Daiwa PI Partners Co Ltd mentioned that the organisation much more focusses on investment opportunities in the area of communications, finance, online business, and consumer space.
“We are much more focused on emerging countries like Myanmar and Vietnam than developed countries like Singapore or Hong Kong that are already developed, For us, it is more interesting,“ said Mizukoshi.
Daiwa PI Partners is said to be able to invest or give debt up to US$100 million per deal (and above upon consideration) mainly in Japan and other Asian countries for both equity and quasi-equity investment.