Asia Partners, a growth equity investment firm, was launched today, setting its sights on addressing the lack of series B and C funding for technology and technology-driven companies in Southeast Asia.
The Singapore-based company is looking to make investments of between US$20 million and US$100 million and aims to capitalize on the region’s long-term growth potential.
According to a Bain & Company report, Southeast Asia will become home to at least 10 new firms with a market value of more than US$1 billion each by 2024.
The region’s internet economy, which reached US$72 billion in 2018, is also expected to exceed US$240 billion by 2025, according to a study by US tech giant Google and Singapore’s Temasek.
“We believe the next decade will be a golden age of entrepreneurship and innovation for Southeast Asia, and we are deeply focused on accelerating that progress,” said Oliver Minho Rippel, co-founder and partner at Asia Partners.
Rippel’s fellow founders include Nicholas Avinash Nash, Pitra Ciputra Harun, Kien Nguyen, and Vorapol Supanusonti.