iGlobe Partners raises US$100m for Fund III

iGlobe Partners has raised $100m for iGlobe Platinum Fund III which will be making investments in smart cities, synthetic biology and fintech.

The successful final close of Fund III can be attributed to the performance of Platinum Fund I (2010) which returned 13 times capital, or a net IRR of 33%, making it one of the top 5% of the 2010 vintage globally, iGlobe shared.

Fund III will invest between $500,000 to $10 million into growth-stage tech startups, from pre-Series A to Series C, over the next three years. To date, Fund III has invested in various tech companies to date, such as Matterport, C2i Genomics, NerdWallet (US), Streetbees (UK), Docquity (Singapore), and Tonik (the Philippines).

iGlobe has been making headlines for its exits and expects to make two more exits on the US stock exchange. The pandemic has been “accelerating adoption of technology across multiple industries, and this is a strong validation of our fund thesis to invest in game changers globally,” said Soo Boon Koh, Founder and Managing Partner of iGlobe Partners.

Completed and upcoming exits include Unity Software (NYSE:U), Twist Bioscience (NASDAQ: TWST), ACSL (TYO: 6232), Matterport, Hippo Enterprises, Ginkgo Bioworks, and Nerdwallet.

iGlobe Partners is a pioneer in venture investing with its roots in Singapore. Since the firm’s founding in 1999 in Silicon Valley, the cross border VC has managed funds exceeding $500m for its investors.