PHNOM PENH: During a business trip to the United States, IDC and Fusion Fund discussed potential collaboration in cross-border investment and an opportunity for IDC to represent Fusion Fund in its international expansion into Cambodia.
Mr. Chap Sopheak, CEO of ID Capital, led a delegation to the United States from 7-13 March and met Fusion Fund’s Founder and Managing Partner Ms. Lu Zhang, and Venture Partner Mr. David Gerster in Long Beach.
Fusion Fund, based in Silicon Valley, California currently manages three venture types and 72 portfolios with a total investment size of USD 323 million.
This discussion came after their meeting in Singapore in 2022 to discuss a potential collaboration in healthcare, Industry, and commercial AI. The two parties will continue to discuss specific areas of collaboration and will meet again in Cambodia soon.
Dr. Hor Sereyvath, Chairman of the Board of Directors of IDI and IDC, stated that the Delegation Visit to the United States is a follow-up activity to the seminar hosted by IDI in December 2022, intending to increase Cambodian food exports to the United States.
He mentioned, “the food export seminar was a huge success but it was just one of a series of business activities that IDI intends to conduct to support Cambodian entrepreneurship and SMEs Ecosystem”. “This business trip will add flavor to the already ongoing discussion between some Cambodian manufacturers and US buyers/brokers, and hopefully some trading transaction will take place soon,” he added.
The US visit, organized by IDI and IDC with assistance from Khmer Enterprise and AmCham, began earlier this week. Members of the delegation flew from Phnom Penh to Incheon before flying to Los Angeles, California, to attend a food product expo as well as a series of business meetings and other activities between March 7 and 13, 2023.