Singaporean firm Ascent Capital Partners has launched a private equity fund focusing on Myanmar businesses in a range of sectors. Partners include a Myanmar firm, as well as a number of other high-profile investors. The Ascent Myanmar Growth Fund (AMGF) will also include U Aung Moe Kyaw, founder of Myanmar Distillery Co, Singaporean businessman Tony Chew, Singapore’s state-run Temasek, JG Summit Holdings from the Philippines and the Asian Development Bank (ADB). A report said that the fund will target Myanmar companies who operate in the areas of education, financial services, healthcare, technology, media and telecommunications. “These firms will be market leaders, or have the potential to be market leaders in the future,” Mr Lim Chong Chong, founder and managing partner of Ascent Capital Partners, was quoted as saying. “We aim to take the companies to the next level of growth such as launching new products or services or expansion,” he said. The AMGF is aiming to spend about US$ 100 million on between 10 and 15 investments.