DBM Asset Management

What DBM Asset Management does

DBM Asset Management (Ди Би Эм ассет менежмент ХХК) is a Ulaanbaatar-based, privately held fund management company founded in 2017 as a 100% wholly-owned subsidiary of Mongolia's Development Bank (Хөгжлийн банк). The company creates and manages specialized investment funds that finance socio-economically significant large-scale projects in Mongolia, with a mandate to enhance the country's economic competitiveness through optimal asset management on behalf of investors.

The company's product portfolio centers on the established Eco-district and Affordable Housing Fund (EDAF), which develops eco-friendly districts and affordable housing in Ulaanbaatar's climate-vulnerable ger areas, and the planned Green Development Fund (Ногоон хөгжлийн сан), aligned with Mongolia's national green finance framework. Complementing these vehicles, DBM provides investment management services — including project research, analysis, evaluation, and advisory — along with corporate governance advisory. Since 2020, it has served as the Project Implementation Unit (PIU) for the Ulaanbaatar Green Affordable Housing and Resilient Urban Renewal Project (AHURP), a multi-donor program financed by the Asian Development Bank, Green Climate Fund, and High-Level Technology Fund, with the Municipality of Ulaanbaatar as the Executing Agency.

DBM generates revenue from management fees and performance-related compensation on funds under management, as well as fees from its project implementation role. Its go-to-market is direct institutional sales to government entities and development organizations, with no disclosed private-sector fund mandates. The company operates with a small team (11-50 employees) from its headquarters in the Eco International Tower in Ulaanbaatar's Sukhbaatar District, and is currently in an organizational buildout phase, hiring across finance, risk, ESG, compliance, and executive functions.

Name

DBM Asset Management

Legal name

Ди Би Эм ассет менежмент ХХК

Website

https://dbmamc.mn

Company type

Private

Founded year

2017

Operating status

Operating

Headcount range

11–50 employees

Short description

DBM Asset Management is a Ulaanbaatar-based, state-owned subsidiary of Mongolia's Development Bank that creates and manages specialized investment funds for socio-economic development projects. It operates the Eco-district and Affordable Housing Fund and serves as Project Implementation Unit for the ADB/GCF/HLT-financed AHURP housing program.

Ownership category

akta.pro rank

Product category

Investment Fund Management

NAICS

Funds, Trusts, and Other Financial Vehicles (525), Other Financial Vehicles (52599)

SIC

Finance Services (6199), Miscellaneous Business Credit Institution (6159)

akta.pro primary industry

National Development Banks & State Development Finance Institutions (DFIs) (BPADACAC)

akta.pro secondary industries

Real Estate Development Asset Management (Project/Construction-to-Stabilization) (BPAJAMAL), Housing & Urban Development Banks (Public) (FSABAKAG)

Keywords

• Investment fund management
• Asset management services
• Affordable housing finance
• Green development funds
• Development finance advisory

Headquarters

HQ city

Ulaanbaatar

HQ country

Mongolia

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales

Revenue model

1. Fund Management Services: The company generates revenue through managing specialized investment funds, including the Eco District and Affordable Housing Fund (EDAF). Revenue is derived from management fees and performance-related compensation from the funds under management.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels2 records

Core offering

DBM Asset Management creates and manages specialized investment funds financing economically and socially significant large-scale projects in Mongolia, with a focus on green development and affordable housing. The company provides investment management services including project research, analysis, evaluation, and advisory, along with corporate governance advisory. It serves as Project Implementation Unit for the Ulaanbaatar Green Affordable Housing and Resilient Urban Renewal Project (AHURP), financed by ADB, GCF, and HLT.

Product overview

DBM Asset Management operates as a specialized investment fund management company established by Mongolia's Development Bank in 2017. The company manages a portfolio of investment funds including the Eco District and Affordable Housing Fund (established) and the Green Development Fund (planned), providing comprehensive investment management services that encompass project research, analysis, evaluation, and corporate governance advisory. The company serves as a Project Implementation Unit for the Ulaanbaatar Green Affordable Housing and Resilient Urban Renewal Project, financed by ADB, Green Climate Fund, and High-Level Technology Fund. The investment philosophy prioritizes investor interests while maintaining independence from conflicts of interest.

Differentiator

Problem solved

Functional benefit

Brands

• Eco-district and Affordable Housing Fund (Эко хороолол ба орлогод нийцсэн орон сууцны сан): Established investment fund focused on eco-district development and affordable housing in Mongolia.
• Green Development Fund (Ногоон хөгжлийн сан)

Products and services

• Eco District and Affordable Housing Fund (Эко хороолол ба орлогод нийцсэн орон сууцны сан) A specialized investment fund focused on developing eco-friendly districts and affordable housing projects in Mongolia, established to address urban development and housing needs. The fund is financed by ADB, GCF, and HLT under the Ulaanbaatar Green Affordable Housing and Resilient Urban Renewal Project (AHURP).
• Green Development Fund (Ногоон хөгжлийн сан) A planned green finance fund designed to support Mongolia's green economic development goals, aligned with national policies and the green financial framework established in 2014, 2016, 2017, and 2020.
• Investment Management Services Comprehensive investment management services including project research, analysis, evaluation, and advisory services provided by professional investment advisors, managers, and analysts, with a focus on prioritizing investor interests and operating independently from conflicts of interest.
• Corporate Governance Services Corporate governance and management services focused on building capable, ethical leadership teams and establishing appropriate incentive systems for sustainable organizational performance.

Named customers2 records

Segments1 record

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• Municipality of Ulaanbaatar (MUB)coreStrategic or Co-development PartnerMUB acts as Executing Agency for the AHURP project with responsibility for implementation supported by Project Management Office (PMO) and Project Implementation Unit (PIU) managed by DBM Asset Management.

Scale indicators2 records

Recent moves3 records

Expansion highlights4 records

Regional players

• Korea Development Bank (KDB): State-owned Korean development bank with regional investment activities including in Mongolia. Comparable as an Asian state-owned development finance institution with cross-border development mandates.
• Eurasian Development Bank (EDB): Regional DFI covering Eurasia with Mongolia as a member state. Comparable as a regional state-owned development finance institution operating in the same geographic market as DBM and managing development project portfolios.

Broad incumbents

• Green Climate Fund (GCF): Multilateral climate fund that channels concessional capital into accredited entities (including DFI subsidiaries) for climate projects. Comparable as the primary grant financing counterparty for DBM's eco-district and green housing funds.
• Asian Development Bank (ADB): The primary multilateral financing partner for DBM's flagship AHURP project. Comparable as the broader incumbent DFI whose concessional and grant financing underpins DBM's mandate pipeline.
• EBRD (European Bank for Reconstruction and Development): Major multilateral DFI active across Eastern Europe and Central Asia including Mongolia, with extensive direct lending and fund-of-funds activity. Comparable as a larger incumbent DFI operating in Mongolia's market with overlapping green and urban development mandates.

Direct peers

• DEG (Deutsche Investitions- und Entwicklungsgesellschaft): German development finance institution that manages development and climate funds for private-sector investments in emerging markets. Directly comparable as a state-backed DFI deploying long-term capital into development projects.
• FMO Investment Management: Dutch development bank FMO's investment management arm, managing dedicated development and climate funds with third-party capital. Comparable as a DFI subsidiary running multiple specialized emerging-market funds.
• Proparco: French development finance institution (subsidiary of AFD) financing private-sector projects in emerging markets including Central Asia. Comparable as a DFI subsidiary with a private-sector development mandate and fund management role.
• British International Investment (BII): UK development finance institution (formerly CDC Group) that invests directly and via managed funds into emerging markets. Comparable as a state-owned DFI operating dedicated emerging-market fund vehicles.
• IFC Asset Management Company: Asset management subsidiary of the International Finance Corporation (World Bank Group), pooling third-party capital into development-themed funds. Directly comparable as a DFI-owned fund management vehicle operating across emerging markets.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/dbmamc

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about DBM Asset Management