The funding will be focussed towards tech investments in the country

Worldbridge Group, one of Cambodia’s largest logistics companies, has backed Ooctane, a local venture capital (VC) firm, by investing a total of US$55 million, as told by Deal Street Asia.

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Ooctane was freshly launched in June last year and the Worldbridge Group’s founding chairman Okhna Rithy Sear contributed US$5 million as the part of the funding round.

This first investment then opened the door to additional funding that closed the fund at a total of US$55 million.

“Ooctane will make a game-changing contribution as it seeks to propel Cambodia into its digital future,” an Ooctane representative told DealStreetAsia.

Ooctane noted that being in a nascent stage like its fellow Southeast Asian countries, Cambodia’s private sector now experiences a spike in interest of launching corporate venture capital arms as well as starting incubator programs.

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It is reported that other investors are looking at investment opportunities in Cambodia include Mekong-focused Belt Road Capital Management and Emerging Markets Investment Advisers.
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Image Credit: Ooctane

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