Eurasia, Doran Capital to Raise $100m for Mongolian Investment from Korean Lp
Seoul based private equity firm, Doran Capital Partners and central Asia-focused investment bank Eurasia Capital, are courting Korean institutional investors for a private equity fund focused on Mongolia.
Doran is to act as the Korean office of Eurasia Capital in Seoul, to launch the $100m fund, known as the Korea Mongolia Resources Fund. Doran is to manage the fund in partnership with Silk Road Management, a firm based in the Mongolian capital of Ulaanbaatar.
Eurasia Capital is to act as placement agent for the fund. Mongolia’s economy is forecast to expand by eight per cent this year, according to the IMF, and has strong untapped mining reserves, which may be of interest to Korean investors and resource companies.
“Mongolia represents a unique investment opportunity for South Korean investors due to strong political support, favourable economic environment and attractive investment projects,” said Eurasia Capital chairman and Silk Road managing partner Alisha Ali. Silk Road Management recently closed the first ever Mongolia-focused private equity and venture capital fund on $30m, exceeding its $25m target. The bulk of commitments came from family offices and high net work individuals in Asia, the Middle East, Kazakhstan and Russia.
Doran is to act as the Korean office of Eurasia Capital in Seoul, to launch the $100m fund, known as the Korea Mongolia Resources Fund. Doran is to manage the fund in partnership with Silk Road Management, a firm based in the Mongolian capital of Ulaanbaatar.
Eurasia Capital is to act as placement agent for the fund. Mongolia’s economy is forecast to expand by eight per cent this year, according to the IMF, and has strong untapped mining reserves, which may be of interest to Korean investors and resource companies.
“Mongolia represents a unique investment opportunity for South Korean investors due to strong political support, favourable economic environment and attractive investment projects,” said Eurasia Capital chairman and Silk Road managing partner Alisha Ali. Silk Road Management recently closed the first ever Mongolia-focused private equity and venture capital fund on $30m, exceeding its $25m target. The bulk of commitments came from family offices and high net work individuals in Asia, the Middle East, Kazakhstan and Russia.
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