Frontiir Co. Ltd

Myanmar Communications and IT Services

  • Active
  • Exited

Intermediated investment

We are invested in Frontiir Co. Ltd through Myanmar Opportunities Fund II, which is managed by Delta Capital. For further information on the fund, the fund manager, and the expected impact of the fund’s investment, click here.

Key facts

Status:
Active
Region

Since 2012, we’ve only invested in Africa and South Asia. Investments outside these regions are from our pre-2012 portfolio.

:
South Asia
Countries:
Myanmar
Sector

We have seven priority sectors. However, we continue to invest outside these sectors, largely in the most challenging regions, as new investment supporting any sector helps to underpin the private sector, and create jobs and livelihoods for people.

:
Communications and IT Services
Investment type

We provide capital in three broad ways: direct equity, debt, and intermediated equity (principally through investment funds).

:
Intermediated investment
Fund:
Myanmar Opportunities Fund II
Fund Manager:
Delta Capital
Start date

For direct investments, this is the date CDC committed capital to the business or project.

For funds, this is the date that CDC committed capital to the fund.

For underlying fund investments, this is the date that the fund invested capital into the business.e

:
December 2017
Domicile

This is the investee company’s place of incorporation; or a fund’s jurisdiction.

:
Singapore

Direct Equity

Our investment

CDC's investment of $20 million will help fund Frontiir's ambitious expansion throughout Myanmar. It was CDC's first direct equity investment in the country of Myanmar.

Expected impact

Despite recent growth in Myanmar’s mobile broadband penetration, access to digital services is very low and presents a challenge for many communities and business development. Data usage remains unaffordable and even inaccessible in rural and low-income areas. Improving access to affordable and reliable internet is central to Myanmar’s development and economic growth.

Frontiir's expansion will help connect an additional 2 million people to the internet. Frontiir's mission is to “provide affordable digital access and information services to people and help bridge the global digital divide”. Frontiir plans to expand coverage to lower income townships within Yangon and Mandalay, growing to 22 cities and towns by 2024.

Frontiir is a large employer with over 1,600 staff and the majority are young people under 30 years old. This investment will support creating thousands of additional jobs.

Environmental and social aspects

CDC is supporting the company to strengthen its health and safety management system, including for contractors, across all operations through our technical assistance facility. We are also working with Frontiir toward international best practice on data privacy and transparency.

Key facts

Status:
Active
Region

Since 2012, we’ve only invested in Africa and South Asia. Investments outside these regions are from our pre-2012 portfolio.

:
South Asia
Countries:
Myanmar
Sector

We have seven priority sectors. However, we continue to invest outside these sectors, largely in the most challenging regions, as new investment supporting any sector helps to underpin the private sector, and create jobs and livelihoods for people.

:
Communications and IT Services
Website:
http://www.frontiir.com/
Investment type

We provide capital in three broad ways: direct equity, debt, and intermediated equity (principally through investment funds).

:
Direct Equity
Start date

For direct investments, this is the date CDC committed capital to the business or project.

For funds, this is the date that CDC committed capital to the fund.

For underlying fund investments, this is the date that the fund invested capital into the business.e

:
June 2019
Amount

For direct investments, this is the total amount that CDC has committed to the business or project (it may be a combination of equity and debt).

For funds, this is the total amount that CDC has committed to the fund.

:
$20m
Domicile

This is the investee company’s place of incorporation; or a fund’s jurisdiction.

:
Singapore