Taiwan’s Fubon Life Insurance commits $65m to Coatue’s growth fund

Taipei City, Taiwan. Photo: Thomas Tucker/Unsplash

Fubon Life Insurance, the insurance unit of Taiwanese financial conglomerate Fubon Financial Holdings, has committed to invest $65 million in the latest growth fund of technology-focused private equity firm Coatue Management.

In a filing with the Taiwan Stock Exchange, Fubon Financial said its insurance unit plans to invest in Coatue Growth V Offshore Feeder Fund for an estimated 1.86% share.

The fund is a parallel investment vehicle for Coatue Growth Fund V, which registered with the US Securities and Exchange Commission in March this year. Coatue’s SEC filings for the growth fund and the parallel fund did not disclose a target for either. 

Coatue Growth V Offshore Feeder Fund had previously received a $50 million commitment from Cathay Life Insurance, the insurance subsidiary of another Taiwanese conglomerate, Cathay Financial Holdings.

Coatue invests in both the public and private markets with a focus on technology, media, and telecommunications, as well as the consumer and healthcare sectors. In November 2020, Coatue announced raising $2.33 billion for Coatue Growth Fund IV from at least 272 investors.

Fubon Life Insurance, which offers life protection, savings, annuity, accident, and health insurance products to customers, is the second-largest insurer in Taiwan based on total premiums, after Cathay Life Insurance. 

Fubon Life was founded in 1993 as a wholly-owned subsidiary of Fubon Financial to provide life protection, savings, annuity, accident, and health insurance products to customers.

The company has announced multiple investment commitments this year. DealStreetAsia reported last month that Fubon Life Insurance has committed to invest $65 million in KKR’s flagship North America buyout fund – KKR North America Fund XIII SCSp – for an estimated 0.52% share.

Prior to that, the insurer committed $65 million to the ninth flagship fund of Boston-based PE firm Thomas H. Lee Partners. In February, it also committed $65 million to the new venture fund of New York-based Tiger Global Management. 

It also disclosed a $65 million commitment to London-based Collier International Partners VIII and another $20 million to Hamilton Lane Secondary V in January.

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.