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Altara Ventures hits the final close of inaugural fund oversubscribed at US$130M

Singapore-headquartered early-stage VC firm Altara Ventures today announced the final close of its first fund oversubscribed at US$130 million.

The initial target was US$100 million.

Investors include institutional funds, sovereign wealth funds, financial services institutions, publicly listed corporations and prominent family offices.

Altara Ventures is focused on early-stage investments in high-growth tech startups, including fintech, consumer, enterprise software, logistics, healthtech and edutech. The VC firm is led by five General Partners, namely Koh Boon Hwee, Tan Chow Boon, Seow Kiat Wang, Gavin Teo and Dave Ng.

Altara has made seven investments to date, including Tonik (the Philippines), Stashfin (Singapore), Sampingan (Indonesia), Clevai (Vietnam), PolicyStreet (Malaysia), and Senseye and FreeAgent CRM (both in the US). On Wednesday, Tonik announced the completion of its US$131 million Series B equity funding round.

Also Read: Koh Boon Hwee-backed US$100M+ VC fund Altara Ventures to invest in 20-25 firms in SEA

It will continue to actively deploy capital into Series A- and B-stage investments in fintech, consumer, enterprise software, logistics, healthcare and education technology.

The firm expects 2022 to be an exciting year ahead; it is already in the process of leading and closing another three new investments in Q1.

Altara Ventures was launched in September 2020. On the sidelines of the launch, General Partner Dave Ng told e27 said that it planned to support a total of 20-25 companies operating primarily in the Singapore, Indonesia, Vietnam, Malaysia, Thailand and Philippines markets.

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