Wednesday, March 9, 2022

Wavemaker Raises $136M Fund In Southeast Asia

Los Angeles- and Singapore-based Wavemaker Partners has closed a new, $136M venture capital fund, focused on investing in startups in Southeast Asia. The firm--which has funds both focused on the U.S. as well as Southeast Asia--said that limited partners in the new fund included Temasek Holdings Pte, Pavilion Capital, International Finance Corp. and Vulcan Capital. The firm now has more than $300M under management. The fund is its fourth fund. The firm said the new fund is focused on early-stage (Seed/Pre-A) enterprise, deep tech, and sustainability startups in Southeast Asia. Wavemaker said the new fund was oversubscribed: it had originally targeted raising $120M in the fund.