Wavemaker partners announces $60m first close of new $100m fund | Techsauce

Wavemaker partners announces $60m first close of new $100m fund

Wavemaker Partners, Southeast Asia’s leading early-stage venture capital firm focused on enterprise and deep tech startups announced the first close of its third fund at US$60M (out of a target of US$100M). The firm anticipates investing in 60 new companies with an initial check size of about US$500K.

Blue chip institutions Pavilion Capital, the International Finance Corporation (IFC), and Temasek invested in the fund together with the family offices of the co-founders of Microsoft (Vulcan) and Facebook (EE Capital).

Other investors include Singapore’s Keppel Corporation, multi-family office Aglaia Family Office, and Lance Gokongwei, CEO of top Philippine conglomerate JG Summit Holdings.

Paul Santos, Managing Partner for Wavemaker Partners Southeast Asia, shares the journey in a blog post, “Conviction & Momentum”.

“Most VCs in SEA invest in consumer tech. We’re grateful to have had our share of consumer success with Luxola (acquired by LVMH) and Coins.ph (acquired by Gojek). However, 88 out the 109 investments we’ve made since 2012 have been in enterprise and deep tech startups (about 81%). This is where we’ve built our experience, expertise, and network. This is where our conviction and momentum have grown. With this new fund, we are thrilled to have the opportunity to continue to work with many of the best enterprise and deep tech founders in the region,” he comments.

With this new fund, we are thrilled to have the opportunity to continue to work with many of the best enterprise and deep tech founders in the region.

The firm has built a wide-ranging portfolio across industry verticals (e.g. financial services, healthcare, food/agriculture), horizontal processes (e.g. HR, sales & marketing, cybersecurity), and technologies (AI, IoT, additive manufacturing). Companies that have received significant funding include: Zilingo, ThinCI, Moka, and CashShield. Other companies showing promising traction include Lynk, Wavecell (Wavecell is now 8x8), Red Dot Payment, Structo, GrowSari, Igloohome, and Silent Eight.

ลงทะเบียนเข้าสู่ระบบ เพื่ออ่านบทความฟรีไม่จำกัด

No comment

RELATED ARTICLE

Responsive image

Gearing Up for Virtual Banking: SCBX Taps WeBank as Tech Partner, Advancing Consortium's License Pursuit

As giants companies heat up new virtual bank licenses, SCBX and WeBank have agreed to collaborate on exploring deployment of innovative technology in Thailand, supporting the Conso...

Responsive image

ContributionDAO Successfully Raises $2.8 Million To Expand Staking Into The Southeast Asia Market

Singapore-based institutional-grade staking platform, ContributionDAO has secured $2.8 million in a seed funding round led by KASIKORN X Venture Capital (KXVC), the VC arm of Thail...

Responsive image

SCBX Acquires 100% of Home Credit Vietnam

SCB X Public Company Limited (“SCBX”) today announced that SCB has signed a sale and purchase agreement to acquire 100% of the charter capital of Home Credit Vietnam...