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Startups

Former refugee bets on Cambodia's early-stage startups

Logistics tycoon raises $55 million to spur development

After staying in a refugee camp, Rithy Sear built a logistics empire that has branched into over 28 businesses. He is now setting up one of Cambodia's first venture capital funds. (Photo by Akane Okutsu)

PHNOM PENH -- The chairman of Cambodia's largest logistics group has raised $55 million to invest in the country's growing stable of early-stage start-ups.

Rithy Sear, a former Cambodian refugee who founded Worldbridge Group after working for the United Nations in the 1990s, will deploy the funds through a new venture capital firm to be called Ooctane.

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