Anthem Asia, an investment and advisory group, is to invest up to $1 million in a fitness facility in Yangon, the latest in a series of investments that the firm has made in the last two years.
The first MOVE facility, at 608 Merchant Street, will provide offerings including a range of group exercise classes, personal trainers and fitness equipment, Anthem Asia said in a statement.
The firm said “the facility is designed for everyone – local and foreign – who wants to feel fitter and healthier.”
MOVE will feature Italian Technogym equipment and personalised fitness evaluations upon sign-up.
“MOVE’s facilities will appeal to super serious athletes who want to train hard and for those who are less serious and want to keep in shape and enjoy life … and everyone in between,” said Nathaniel Anumba, managing director of MOVE.
“Our ambition is to become the ‘third space’ between home and work – a place where our members come to improve wellbeing with our support. We will use the latest technology to constantly refine and improve our offerings according to what our members want.”
Anumba previously both launched and worked in successful fitness facilities in Myanmar, Singapore and Malaysia. He has certifications in weight-loss and Kettlebell training, as well as a sports background including basketball, martial arts and boxing.
“We are delighted to back Nathaniel and his growing team of personal trainers and staff, along with their ambitious plans to roll out a range of exciting new offerings for the fitness market,” said Genevieve Heng, co-founder and director of Anthem Asia.
MOVE is one of a number of investments Anthem Asia has made in the past two years. In May, it said it will invest a “six-figure US dollar sum” in Xavey, a mobile data collection platform in Myanmar.
Last year, the firm invested in two marketing communications businesses, Blink Agency and Zagar Communications. Other investments include Hintha Business Centres, which opened in September 2013, and Thahara, a marketing and management platform offering access to small properties across Myanmar.