Insignia Ventures Partners, located in Singapore, completed its third fund by collecting $388 million in US funds from family offices, foundations, sovereign wealth funds, and university endowments in Asia, Europe, and North America.
The venture capital business secured another US $28 million for an entrepreneurs’ pool and an additional US $100 million for its Annex Fund I.
The three funds will concentrate on early-stage investments in Southeast Asian technology, emphasising the Web3, climate tech, healthcare, and agriculture sectors.
Insignia Venture Partners stated that it intends to take advantage of the “winter” investing opportunity with the new funds.
“We see a once-in-a-decade opportunity to capture outlier returns, as the winners become obvious when the tide goes out. At the same time, winners cannot just be defined by valuations and scale but are ultimately companies with sustainable unit economics and concrete value creation,” said the firm’s founding managing partner Yinglan Tan.
Insignia Ventures Partners was established in 2017 and has already secured US $200 million for its second fund and US $120 million for its first fund. Its portfolio includes Southeast Asian unicorns, including the ride-hailing and e-commerce behemoth GoTo Group, the used-car marketplace Carro, and the investing app Ajaib.
The VC company has invested a total of US$304.9 million in its firms, with an enterprise value of more than US$46 billion. Insignia Ventures Partners said in a statement that it had a loss ratio of less than 2%.