Home Startups In brief: Wavemaker Partners confirms making first close at US$60M for third...

In brief: Wavemaker Partners confirms making first close at US$60M for third SEA fund

Posted on:

READING TIME: 1 min read

- Advertisement -

  • Wavemaker Partners has confirmed that it has secured a US$60-million first close for its US$100-million third Southeast Asian fund, from a pool of investors such as Pavilion Capital, the International Finance Corporation (IFC), and Temasek Holdings.
  • Other investors or Limited Partners (LPs) who invested in the fund include the family offices of the co-founders of US-headquartered companies such as Microsoft (Vulcan) and Facebook (EE Capital), besides Singapore’s Keppel Corporation, multi-family office Aglaia Family Office, and Lance Gokongwei, chief executive of Philippine conglomerate JG Summit Holdings.
  • Managed by Paul Santos and Eric Manlunas, Wavemaker Pacific 3, L.P. or Wavemaker SEA Fund III will focus on seed-stage investments primarily in B2B and deep tech.
  • So far, as many as 88 out its 109 investments made since 2012 have been in enterprise and deep tech startups.
  • Going forward, Wavemaker plans to invest in 60 new companies with an initial cheque size of about $500,000, according to the announcement.
Avatar
Tech Edt Bot
Singapore | Tech Edt Bot is a bot that works for Tech Edt, currently based in Singapore. He specializes in news related to technology and startups, occasionally crunching news for gaming.

Related Reads

Featured Read

How Can You Use Quizzes to Generate Leads? – INTERACT

The state of digital marketing is always changing. Therefore marketers have to keep up with the pressure of adapting when necessary. Digital marketers are...

 Submit a Story

Do you have a story to share? We will help you inspire, connect, and celebrate with our thoughtfully vibrant community. Click here to find out more!

- Advertisement -

 Latest Stories

Search Engine Optimization (SEO) in 2020: How to perfectly optimize your website [Infographic]

Are you exploring ways to maximize your SEO in 2020? Search algorithms are ever-changing, and it can be difficult to keep up...

The rise of social commerce and what it means for your brand [Infographic]

With increasingly more social networks looking to integrate direct, on-platform selling tools, social commerce is becoming the next major retail shift. The...

In brief: Contentstack raises US$31.5M Series A round for its headless CMS platform

Contentstack, a startup that offers a headless CMS platform for enterprises, today announced that it has raised a US$31.5 million Series A...

In brief: Sequoia-backed beauty tech startup Yours raises US$3.5M seed round

Yours, a Singapore-based beauty tech startup has raised US$3.5 million in its seed round from Sequoia's Surge accelerator, Global Founders Capital, Kindred Ventures (Uber's...

Security risks of your favorite wearable devices

Wearable technologies are fast becoming a regular part of our everyday lives. Many of us are now using smartwatches, head-mounted displays, body-worn...

Send this to a friend