Frontier Digital Ventures has expanded into Myanmar with investments in online automobile website MyanmarCarsDB and property website iMyanmarhouse.
Along with the necessary capital, the Malaysia-based digital investment firm will also provide expertise in developing, growing and operating online classifieds businesses, e27.com reported.
Shaun Di Gregorio, CEO and co-founder, Frontier Digital Ventures said, “Myanmar is the last untouched market in Asia. Frontier’s two investments, in both the leading automotive site and leading property site, ideally position us as Myanmar’s market emerges.”
MyanmarCarsDB.com, established in January 2012, was the first online automobile marketplace to connect car buyers and sellers in Myanmar. It claims to have more than 40,000 cars listed on the platform.
Launched in October 2013, iMyanamarHouse, claims to have over 31,000 properties listed for sale or rent on the platform.
“We are actively working with the management teams of both companies to accelerate their growth and extend their market leadership,” Shaun Di Gregorio added.
The firm recently invested $3.5 million in PakWheels.com, a Pakistan-based automotive website. It is targeting up to 30 investments in disruptive digital businesses with a mandate of over 50 potential markets across the region including Central and South America, the Middle East, North Africa, Southern Africa, and South Asia.
