HomeSingaporeAsia Partners Closes Second Fund, at US$474M

Asia Partners Closes Second Fund, at US$474M

Asia Partners

Asia Partners, a Singapore-based growth equity investment firm, closed its second fund, Asia Partners II, LP, at US$474M. 

Limited Partners included institutional investors, family offices, and individual investors across six continents. Returning investors include the International Development Finance Corporation (DFC) and Financial Investments Corporation (FIC) from the United States, the Deutsche Investitions- und Entwicklungsgesellschaft (DEG) from Germany, and Generation Capital from Canada. The International Finance Corporation (IFC) joined as a new investor in Fund II, among others. More than 9% of the Fund’s capital is from Asia Partners’ employees and Advisory Board members.

Asia Partners is focused on the intersection of three key themes:

  • The long-term growth potential of Southeast Asia, a region with almost 10% of the world’s population, and Southeast Asia’s increasing economic connectivity to the rest of Asia and the world.
  • The rapid growth of innovative technology and technology-enabled businesses in the region, many of which are platforms with pan-regional or global aspirations.
  • The scarcity of growth equity capital for these companies, particularly in the $20m to $100m investment size range, often described as the ‘Series C/D Gap’ between early-stage venture capital and the public capital markets.

Fund II is 23% larger than the Firm’s inaugural fund, Asia Partners I LP, which had US$384M in commitments and completed its final close in March 2021. With this close, Asia Partners has now reached US$1.0bn in assets under management.