Singapore-based Indies Capital Partners has announced the first close of its second fund, Indies Strategic Technology Fund II (ISTF II).
Targeted at US$80 million, ISTF II has raised commitments totalling more than 70 per cent of the target fund size.
The new fund aims to invest in top tech companies in Southeast Asia with an established growth trajectory and valuation of US$500 million and above.
“Southeast Asia is one of the world’s fastest-growing internet markets, underpinned by favourable demographics and strong economic fundamentals. Increasing digitisation, rising consumption, and rapid development of the region’s tech ecosystem represent an exciting investment opportunity. With the exit market for the ecosystem’s first wave of unicorns actively taking shape, this is an optimal time for entry,” said Pandu Sjahrir, Managing Partner of Indies.
