Asia Partners, a Singapore-based growth equity investment firm, has announced the final close of its second fund at US$474 million in commitments.
The Limited Partners in the fund include institutional Partners’s family offices and individual investors across six continents. Returning investors include the International Development Finance Corporation (IDFC) and Financial Investments Corporation (FIC) from the US, and the Deutsche Investitions — und Entwicklungsgesellschaft (DEG) from Germany and Generation Capital from Canada. More than 9 per cent of Fund II’s capital is from Asia Partners’s employees and Advisory Board members.
Also Read: Asia Partners’s maiden fund hits final close at US$384M
Asia Partners II typically invests between US$20 million and US$100 million. The fund is 23 per cent larger than the inaugural US$384 million, which completed its final close in March 2021.
With the final close of Fund II, Asia Partners has reached US$1 billion in assets under management.
Asia Partners is focused on the intersection of three key themes:
1) the long-term growth potential of Southeast Asia, a region with almost 10 per cent of the world’s population, and Southeast Asia’s increasing economic connectivity to the rest of Asia and the world,
2) the rapid growth of innovative technology and technology-enabled businesses in the region, many of which are platforms with pan-regional or global aspirations,
3) the scarcity of growth equity capital for these companies, particularly in the US$20 million to US$100 million investment size range, often described as the ‘Series C/D Gap’ between early-stage VC and the public capital markets.
Oliver M. Rippel, a Partner of the firm and a member of the Investment Committee, said: “We continue to believe this decade will be a golden age of entrepreneurship and innovation for Southeast Asia.”
Also Read: With just US$108M raised, December was the least funded month in 2023: Tracxn
The Asia Partners Advisory Board is chaired by Hsieh Fu Hua, the former CEO of the Singapore Exchange, the co-founder of the PrimePartners Group, and the Chairman of the National University of Singapore.
“Southeast Asia is highly strategic for international investors, given its importance in global trade, supply chain management, rising affluence and the increasing digitisation of daily life,” said Hsieh. “Opportunities abound for our regional economies to be transformed by the combination of entrepreneurial innovation and growth equity.”
In 2022, Asia Partners led the US$80 million Series F funding round of ShopBack and joined the US$38.8 million Series C round of Doctor Anywhere.
—
The post Asia Partners hits final close of Fund II at US$474M appeared first on e27.