Asia Partners names DFC, DEG as LPs in $384m debut PE fund

Asia Partners

Singapore-headquartered Asia Partners announced that German firm Deutsche Investitions- und Entwicklungsgesellschaft (DEG) and US investor International Development Finance Corporation (DFC) have joined its $384 million debut fund as limited partners.

DFC committed $25 million, while DEG chipped in $22 million in Asia Partners I, the largest debut technology fund that is focused specifically on Southeast Asia. The PE fund seeks to make investments starting from $20 million in the region’s tech startups.

Asia Partners, a growth equity investment firm launched by former Sea Ltd president Nick Nash and Naspers B2C e-commerce division’s former CEO Oliver Rippel, said having DEG and DFC as limited partners (LP) highlights the firm’s commitment to socially responsible investing.

“Environmental, social and corporate governance considerations are a crucial part of Asia Partners’ investment due diligence process and are closely aligned with the organisational missions of the DFC and DEG,” said Rippel.

DFC is America’s development that partners with the private sector to finance solutions to the most critical challenges facing the developing world today. DEG, on the other hand, is a development finance institution that partners with private sector companies in developing and emerging countries.

Asia Partners I made a final close in March at $384 million, signalling a strong investor appetite for the region’s burgeoning market for e-commerce, payments, mobile apps, and other tech and internet startups.

The fund made a $78 million first close in November 2019 and another close at $117.85 million in January 2020.

Aside from DEG and DFC, Asia Partners said limited partners in the fund include institutional investors, family offices, corporations, and individual investors across six continents. More than 7 per cent of the fund’s capital is from the firm’s co-founders and Advisory Board members.

The firm, which launched in 2019, is focused on the intersection of three key themes – the long-term growth potential of Southeast Asia, the rapid growth of innovative technology and technology-enabled businesses, and the scarcity of growth capital for these companies.

It has already invested more than $90 million across its first three investments, which collectively have operations across every major economy in Southeast Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.