Venture capital firm and fund manager OBOR Management has announced it has received a fund management licence from the Securities Exchange Commission of Cambodia (SECC).
The licence was awarded on July 21, but only formally announced this week, after the organisation was given in-principal approval in August last year and since then has been working with the SECC to complete all requirements.
The licence is one of several the SECC has begun issuing since mid-2018 that allow private individuals or entities to act as fund managers in collective investment schemes (CISs). Only those with licences can raise funds and invest them on behalf of individuals.
OBOR Management Chairperson Christophe Forsinetti said: “We are honoured to have received the fund management licence from the SECC.
“The licence will give investors confidence and allow us to mobilise significantly more investment to Cambodian SMEs [small and medium enterprises]. In addition, investment vehicles allowed under the licence will expand financing strategies for SMEs and startups beyond bank and microfinance institution (MFI) loans, while allowing local investors to diversify investments into new asset classes previously limited to real estate purchases and bank deposits. We are looking forward to establishing our first Cambodian SME Fund.”
Director General of the SECC Sou Socheat said: “All applicants are vetted carefully, and must show proof of solid capital, strong human resources, reliable digital infrastructure, a willingness to be transparent and a track record of scaling local businesses toward greater profitability and sustainability.”
“It’s great to see more companies working with the SECC and contributing to the establishment of a solid, regulated environment for investors and Cambodian companies. Cambodia has proven that it has a lot of potential and, with better regulation, we will now achieve scale. We will work closely with the fund management companies such as OBOR Management to facilitate more investment in Cambodia.”
This article was first published in Khmer Times. All contents and images are copyright to their respective owners and sources.