Singaporean venture capital firm, Insignia Ventures Partners, has procured US$516 million in funds, and the capital raised will be used to invest in early-stage startups in the ASEAN region.
Singapore’s leading technology-focused venture capital firm, Insignia Ventures Partners announced its recent funding round, raising a total of US$516 million. The capital raised is set to fund early-stage technology development in Southeast Asian (SEA) startups, coming as a celebration of the firm’s completion of five years of “building great companies.”
These investments will be split into three segments, with US$388 million dedicated to its main flagship fund IVPF III, targeting tech startups in the region, and another US$100 million for its Annex Fund I, which is to be utilised to invest in portfolio companies. In addition to that, the remaining US$28 million will be used to back its Entrepreneurs’ pool, in correlation with its main fund.
Yinglan Tan, the CEO and Founding Managing Partner of Insignia Ventures Partners, stated, “We could have raised a much higher amount but we have learned that smaller, tighter funds do better.”
Insignia was founded by a former venture partner at Sequoia Capital, Yinglan Tan, who has since taken the firm to great heights, partnering with committed, passionate, and innovative founders to support them from seed funding to growth stages, in hopes to build great companies in Southeast Asia. The firm has invested in many technology market leaders, including its portfolio companies Carro, Ajaib, GoTo, Appier, as well as other unicorns and private companies. Its current investment valuation stands over US$1 billion, and is anticipated to expand further.
“We see a once-in-a-decade opportunity to capture outlier returns, as the winners become very obvious when the tide goes out,” added Tan.
Furthermore, the venture capital enterprise plans to explore more opportunities in the emerging new technologies, including climate technology, healthcare and AgriTech, along with the growing blockchain market, declaring its initiative to invest more aggressively into Web 3.0. It is known to have previously invested in the sector, including cryptocurrency payment startup TripleA, as well as Web 3.0 mobile app data and development platform, Particle Network.
The recent funding raised doubled the firm’s previous total in 2019 of US$200 million for its second fund, the amount procured demonstrating the firm’s commitment and drive to continue building a remarkable startup network in Southeast Asia regardless of the current global downturn in technology valuations.
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