Singapore’s Vickers Venture Partners Raises Its Largest Round Of Funding
Singapore’s start up scene is seeing a major growth in capital funding pouring in as Singapore-based Vickers Venture Partners just closed its fifth and largest fund yet on Tuesday. With almost US$ 230 million in pledged capital, not only is the amount three times larger than its preceding funds, it is also one of the largest VC funds ever raised and operated out of Southeast Asia.
The chairman and co-founder of Vickers’, Finian Tan, who made his name by backing China’s Baidu in 2000 against conventional wisdom, said the latest vehicle aims to plug the gap he sees in terms of the limited availability of mid-stage growth funding for Southeast Asian startups. He says, “when it comes to US$50 million to US$500 million funds – it’s empty, you need [major investors], including private equity, to come in and fill the gaps. So that is a great opportunity, and it is timely for some of these high performing funds, like ours, to raise larger ones.”
Some Southeast Asian startups that have already benefited from this latest vehicle, include forex trading platform Spark Systems, consumer insights app Snapcart, and gym class booking platform GuavaPass.