SINGAPORE: Singapore’s Northstar Group secures $140 million for Southeast Asia venture fund. The Singapore-based private equity and venture capital firm announced on Friday, Dec 15, as per MarketScreener. The capital comes from a mix of investors, including sovereign wealth funds, family offices, institutional investors, and high-net-worth individuals.
The focus of the fund will be on making early-stage investments in companies based or significantly operating in Indonesia and other Southeast Asian countries. Northstar aims to target the consumer internet, financial technology, and enterprise software sectors with these investments.
Chee-Yann Wong, Northstar’s Chief Investment Officer, highlighted the potential in Southeast Asia, stating“Southeast Asia is the third-largest global region in terms of Internet users. Rising affluence, a tech-savvy young population and further digitization present great opportunities for tech start-ups.”
Founded in 2003, Northstar Group currently manages over $2.6 billion in committed equity capital, according to its website./TISG