Myanmar-focused private equity firm Anthem Asia announced on Friday it invested over USD 1 million in an early-stage agri-business Shan Orchard Myanmar Ltd. This is the first investment from its USD 50-million Myanmar SME Venture Fund. The company is based close to Heho Airport, located near the popular Inle Lake at Southern Shan State in Myanmar. Shan Orchard is an agriculture services business focusing on growing Hass avocados and processing avocado oil. The finances will be used for purchasing an avocado oil processing facility, support facilities, acquiring farmland and working capital.

Shan Orchard is also leveraging its management expertise to add value through trialing of higher-value crops. The company aims to maximize land use and improve seasonality.

Anthem Asia has 10 portfolio companies including influencer management company Piyawasa, digital agency ERA Myanmar, property marketing and management platform Thahara, serviced office space provider Hintha Business Centres, marketing agency Blink, marketing communications firm Zagar Communications, and mobile data collection platform Xavey.