The Singapore Venture Capital & Private Equity Association lauds PE and VC firms with successful deals and exits in the past year
VCs and PEs demonstrated remarkable foresight and confidence in companies that have growth potential in Singapore and Southeast Asia
Singapore, October 12, 2016 – The Singapore Venture Capital and Private Equity Association (SVCA) commemorated its 24th Anniversary with awards recognizing Venture Capital and Private Equity firms who have made successful yet strategic investment deals and exits in the past year. The awards ceremony was held in conjunction with the association’s gala dinner at the Shangri-La Hotel’s Tower Ballroom last night.
In recent years, Southeast Asia and especially Singapore witnessed a continued increase in startups within the consumer products and technology industries. Consequently, they have grown to be core investment geographies for many PEs and VCs, thus, creating a strong traction of investment sentiment in the region.
“Despite experiencing volatility in 2015 due to economic uncertainties, Singapore and the Southeast Asian region still showed the potential to be thriving and rapidly growing investment landscapes. It is only pertinent that we recognize PEs and VCs who were brave and fought through and took that chance to invest in their respective companies with the potential to expand internationally and more importantly, have a positive impact in the immediate region,” Dr. Jeffrey Chi, Chairman of SVCA. He added, “That foresight and confidence our winners have portrayed in their investments will set an aspiring example to their peers not only in Singapore but also in the region – to eventually bolster growth and success of a potential regional industry and ecosystem revolving around PEs, VCs, and prospective companies.”
The 2016 SVCA Award winners are: (please see Annex for full details)
VC Deal of the Year – Monk’s Hill Ventures | Investee: Ninja Van Logistics
Founded in 2014, Ninja Van Logistics aims to create a scaleable network of last-mile delivery services that are timely without the sacrifice of cost and efficiency. The founders created a platform to match the availability of trucks and demand for transportation services. It now serves more than 300 customers across Singapore, Malaysia and Indonesia.
PE Deal of the Year – Navis Capital Partners | Investee: B Medical Systems SaRL
A management buyout of a Luxembourg-based business specializing in transporting and storing vaccines with a clientele span across Asia, Africa and South America. Within 18 months, this investment has enabled sales generation and increased R&D focus resulting in significant increase in revenue and doubling of profits.
VC Exit of the Year – Wavemaker Partners | Investee: Luxola
Started by a solo founder, who lacked technical experience and yet had an audacious goal of becoming the number one online destination for beauty products in Southeast Asia. In 2012, after more than 50 rejections, they finally received seed funding and has since rightfully gained the attention of major beauty brands. The award goes to Wavemaker for the sale of Luxola to LVMH.
PE Exit of the Year – EQT Partners | Investee: Classic Fine Foods
Initial investment started off as a loose amalgamation of 11 separate businesses. A central management team built from scratch combined with a focused strategy has made Classic Fine Foods the largest distributor of fine foods in Asia. The award goes to EQT Partners for the sale of its portfolio company Classic Fine Foods to Germany’s largest retailer Metro AG.
Even with the uncertain investment outlook in 2015, these outstanding deals and exits are validations that the reputation of Singapore and Southeast as investment hotspots is unwavering. PE and VC firms should be bullish with their investments in the next two years.
About Singapore Venture Capital and Private Equity Association (“SVCA”)
The Singapore Venture Capital & Private Equity Association (SVCA) was formed in 1992 to promote the development of the venture capital (VC) and private equity (PE) industry. From a humble start of two, our membership now exceeds a hundred and continues to grow in tandem with the industry’s development.
The thrust of SVCA’s activities are:
Promote the professional development of the industry through awards, training, workshops and conferences; facilitate interaction and collaboration among its members through regular networking events, act as a platform for dialogue on regulatory and policy issues pertaining to VC and PE through data research, feedback and consultation with members and regulatory authorities and build linkages to centres of VC and PE activities in the region through active participation at regional and global VC & PE Initiatives.
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Joachim LeongAccount Manager, REDHILL.Asiajoachim@redhill.asia