Southeast Asia-focused investment firm Go-Ventures has rebranded into Argor Capital Management and announced the closing of its second fund worth US$240 million.
The investors in Fund II include leading sovereign wealth funds, institutional investors, corporates and family offices from Asia, the Middle East, Australia, Europe and the US.
With the completion of its recent fundraising, Argor plans to deepen its focus by investing in both early and mid-stage companies that address large and attractive market opportunities while driving significant societal impact.
Fund II has already invested in companies spanning sectors, such as verticalised B2B marketplaces, tech-enabled consumer businesses, SME digitisation platforms, environment tech, and embedded finance.
Established in 2018 with the backing of GoTo (then known as Gojek before its merger with Tokopedia), Argor is an independent but ecosystem-linked investment firm. Argor combines the words ‘ardour’, ‘rigour’, and ‘Go’.
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It invests in high-growth startups across the rapidly growing markets of Indonesia and the rest of Southeast Asia.
Argor closed its first flagship fund in 2020 with a total commitment of US$175 million. The first venture fund has invested in 19 companies.
“Argor captures the passion and spirit of partnership that our team employs as we invest in and help our portfolio companies across Southeast Asia change millions of lives for the better. While we are rebranding at a time of expansion, the word “Go” embedded in our name is an important reminder for us of the strong support we have received from GoTo and our other investors since we started this journey back in 2018″, said Aditya Kamath, a Partner at Argor.
Although GoTo remains an investor in Argor’s funds, its strategy and investment decisions remain independent of GoTo and other Limited Partners (LPs).
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