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January 9, 2024
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Closing at $474M: The Game-Changing Southeast Asia Tech Fund

TLDR: Asia Partners’ Southeast Asia Tech Fund Hits Final Close at $474M

Singapore-based Asia Partners Fund Management has successfully closed its second tech fund for Southeast Asia at $474 million. This, in addition to the $384 million close of its inaugural fund in 2021, brings the firm’s assets under management to $1 billion. The fund aims to capitalize on the economic growth and fast-growing digital connectivity in Southeast Asia, targeting investments in the range of $20 million to $100 million. The firm’s co-founder and partner, Oliver Rippel, believes that this decade will be a “golden age of entrepreneurship and innovation for Southeast Asia.”

Key Points:

  • Asia Partners has closed its Southeast Asia second tech fund at $474 million.
  • The firm now has $1 billion in assets under management.
  • The fund targets investments in the range of $20 million to $100 million in Southeast Asia, capitalizing on economic growth and digital connectivity in the region.
  • More than 9 percent of the fund’s capital is from the company’s employees and advisory board members.
  • Its limited partners include family offices, institutional investors, and individual investors across six continents.
  • According to a report from Google, Temasek Holdings, and Bain & Co., Southeast Asia saw $100 billion in revenue across various digital economy sectors in 2023, eight times the 2016 level.
  • Despite challenges in IPOs and venture markets, Southeast Asia’s digital economy is expanding as consumers increasingly transact online.
  • Asia Partners’ previous investments include Singapore-based shopping platform ShopBack and Southeast Asia-focused telemedicine provider Doctor Anywhere.

Despite the challenging environment for IPOs and venture markets, Asia Partners’ successful fundraise demonstrates investors’ continued interest in Southeast Asia’s digital economy. With its strong track record and focus on the region’s growth potential, Asia Partners is well-positioned to drive entrepreneurship and innovation in Southeast Asia over the coming years.

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