Asia Partners Debuts with $384m Fund

March 04, 2021

Singapore-based Asia Partners, has raised $384 million for an inaugural growth equity investor fund for Southeast Asia. It is also “the largest debut technology fund in history specifically focused on Southeast Asia, and one of the region’s largest debut funds across all industries,” according to Asia Partners.

Asia Partners is focused on the intersection of: the long-term growth potential of Southeast Asia, the region’s rapid growth of innovative technology and technology-enabled businesses, and scarcity of growth equity capital for these companies in the $20 million to $100 million investment size range.

Asia Partners has six co-founders: Jill Cheong Hsi Min, Pitra Ciputra Harun, Nicholas Avinash Nash, Oliver Minho Rippel, Kien Nguyen, and Vorapol Supanusonti. The co-founders and Advisory Board members contributed to more than 7% of the fund, signalling a strong degree of alignment with Limited Partners (LPs). Hsieh Fu Hua, the former CEO of the Singapore Exchange, chairs the Advisory board.

LPs who committed to the fund include institutional investors, family offices, corporations, and individual investors across six continents. Investors include the U.S. International Development Finance Corporation (DFC) and the Deutsche Investitions- und Entwicklungsgesellschaft (DEG) from Germany.

Asia Partners has already invested more than $90 million across its first three investments, which collectively have operations across every major economy in Southeast Asia.

Asia Partners’ legal advisor on the fundraise was Gibson, Dunn & Crutcher. Southern Right Capital Limited and GCA Advisors, LLC acted as placement agents.