Japan’s Orix Corporation announced on the 4th February that it would invest in Mongolia Opportunities Fund I, the country’s first ever private equity vehicle. According to Asahi Shimbun, Orix, an integrated financial services group, aims to use the fund, established by Mongolia Opportunities Partners, to make its own first investments in country. Mongolia Opportunities Partners was founded in 2009 as a private equity firm. Its main targets are high-growth sectors of the Mongolian economy such as mining, infrastructure and exports.
The Mongolia Opportunities Fund I is a private equity fund created in June 2011 to invest in high-growth sectors of the Mongolian economy such as mining, infrastructure and export-related areas.
The fact that Mongolia has huge reserves of mineral deposits such as copper and coal presents an immense opportunity for the fund. And the mining industry in the country is expected to become a future industrial pillar along with large-scale expansion expected in infrastructure investment and related service industries.
The fund amount is approximately $50 million (about 4.6 billion yen). Its main investors are 12 companies consisting of financial institutions and investment firms.