Cambodia-based investment firm OBOR Management has sold a 40% stake to Cambodian Investment Management (CIM) and Singapore-domiciled Tanncam Investment, who will become the firm’s strategic shareholders, per a statement by CIM.
The investment will allow OBOR to further expand its arranger, investment advisory, mergers and acquisitions, corporate finance, and strategic consulting services.
CIM said that several investments by OBOR have generated an annual IRR between 15% and 100%.
Christophe Forsinetti, chairman of OBOR Management, said the investment by CIM and Tanncam marked “a pivotal moment” in the firm’s growth strategy.
OBOR will develop a corporate advisory service to assist Cambodian companies in implementing international best practices in management, finance and governance, and facilitate capital raising.
Founded in 2016, OBOR has invested in Cambodian businesses including Khmer Water Supply, travel tech startup Camboticket.com, logistics Shoprunback, online supermarket Delishop, and waste management services Global Action for Environment Awareness, as well as Animal Doctors – a vet clinic chain with operations in Vietnam, Cambodia, Laos, and Thailand.
“I strongly believe that the capital markets will be an important catalyst for the next phase of Cambodia’s economic growth and expansion. While foreign direct investment is a crucial aspect of the economy, the financial markets play just as vital role as capital and liquidity providers to the government, businesses, and entrepreneurs,” said Anthony Galliano, group CEO of CIM.
CIM is a portfolio company of Tanncam, where Galliano acts as a director.
Established in 2009, CIM is a corporate services company based in Phnom Penh, Cambodia.
Meanwhile, Tanncam invests in early-stage venture capital deals and strategic opportunities. The firm targets the healthcare, e-commerce, logistics, technology, human resources, consulting, and food and beverage sectors.
Last year, it invested in Digital Classified Group, an Australia-based operator of online real estate and general classified marketplaces in Asia Pacific’s frontier and emerging markets.
Other companies under Tanncam’s portfolio include Cambodia’s Backyard Café and Vibe Cafe Hospitality, Singapore-based Verita Healthcare Group and e-commerce fulfillment startup QWQER Projects, Apeiron Investment Group, the family office and private investment firm of German-born entrepreneur and investor Christian Angermayer, US-based blockchain platform QuickNode, and Indian medical store chain Netmeds (which it has exited), among others.