Exclusive: Golden Equator Capital targets S$100m for Tech & Innovation Fund II

Shirley Crystal Chua, founder and Group CEO, Golden Equator

Singapore-based asset management and private equity firm Golden Equator Capital is targeting to raise S$80-$100 million for its second Technology and Innovation Fund, and plans to close this vehicle in the first quarter of 2017, a top executive with the boutique investment company told this portal.

DEALSTREEETASIA had earlier reported that Golden Equator Capital had closed its first technology and innovation fund at around the $40 million mark, and had already initiated work on raising a larger follow-on fund.

Golden Equator’s chief executive and managing director Shirley Crystal Chua told this portal that the firm had launched its second vehicle last month, with a target of up to S$100 million, that will invest in Asian tech startups and consumer internet firms.

The first fund has made 10 investments, and she said while adding: “Four of them are doing really well. The valuation is up significantly, about 40 per cent, for the first fund.”

Technology and Innovation II will focus a lot more on enterprise solutions with a big focus on fintech and digital marketplace, she said.

“We are encouraging our clients to attribute up to 20 per cent of their portfolio to diversify into the venture space. Technology will be the next wave. About 20 years ago, we could get a 100 per cent return on real estate but we have recently seen technology yielding up to a 1,000 per cent return when invested in the right companies at the right time,” she said.

“We are positive that this is the area we should focus on – we are not just investing in Singapore companies but we also invest in the companies which house themselves in Singapore and do the business around the region in Asia,” she added. “Hopefully, some of those companies will become a global player.”

Golden Equator Capital’s strong focus on fintech is in line with the initiatives of the Singapore government, that is going all out to get the city-state to reinvent itself as a fintech hub, as its traditional strongholds such as the wealth management industry faces severe pressure. Besides, Singapore is also looking at riding the fintech wave to revive its sluggish economy.

Last month, Golden Equator Capital together with Gobi Partners led a $2 million Series A funding in Glints, a Singapore-based graduate recruitment platform. It also participated in a $10-million funding round in the social dating platform Paktor Pte Ltd and injected seed funding into F&B startup venture Eunoia this year.

Also read:

Golden Equator’s Shirley Crystal Chua: Spotting trends and riding them

Exclusive: Golden Equator Capital raises $40m technology fund, $40m realty fund; larger follow-on funds planned for 2016

 

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.