Pavilion Capital, Temasek Holdings, the International Finance Corporation, and Vulcan Capital are among the returning investors in Wavemaker Partners’ fourth fund, which raised US $136 million.
The business also said that it has received commitments from a varied investor group, including institutional investors, university endowment funds, funds of funds, family offices, corporates, and high-net-worth individuals, according to a press release. It claims to be Southeast Asia’s largest fund dedicated to early-stage enterprise, deep tech, and sustainability entrepreneurs.
“We are grateful to our limited partners who have believed in us and stayed with us over the past 10 years, and we welcome the new investors who have decided to take the leap with us. We hope to validate their trust as we continue to back high-growth startups that solve meaningful problems in enterprise, deep tech, and sustainability,” said Paul Santos, Managing Partner at Wavemaker.
Wavemaker Partners also announced the promotions of Melissa Ho to Principal and Phuong Tran to VP for Investments and Country Head for Vietnam, in addition to the fourth fund’s completion.
According to the business, Ho will oversee the firm’s whole investment team and sit on the boards of portfolio companies, while Tran will lead Wavemaker’s Vietnam investments and cement the VC firm’s operations in the nation.
Enterprise, deep tech, and sustainability companies are the emphasis of the business. About 150 (85%) of the 170-plus startups it has invested in since 2012 are in enterprise, deep tech, and/or sustainability, according to the company.
Wavemaker Partners claims to have completed more than ten exits with a total enterprise value of more than US $700 million. Moka, a mobile point-of-sale system, was bought by Gojek, Wavecell, a cloud communications software firm, was acquired by 88%, TradeGecko, an inventory and order management platform, was acquired by Intuit, and Red Dot Payment, an online payment solutions provider, was acquired by PayU/Naspers.
