Indies Capital hits first close of $100m for third Special Opportunities Fund

Singapore. Photo by Andrew Kow on Unsplash

Singapore-based alternative asset manager Indies Capital has secured more than $100 million in capital commitments for its third flagship fund, the firm said in a statement on Monday.

The fund secured capital commitments from Pavilion Capital, the growth equity unit of Singapore’s Temasek Holdings, as one of its anchor investors. Institutional investors, corporates, and families have also backed the fund’s first close.

Similar to its predecessor funds, Fund III will focus on structured credit and private equity opportunities in Southeast Asia, particularly Indonesia. The firm expects opportunities to arise from the market dislocations as a result of the COVID-19 pandemic and the subsequent economic recovery in the Southeast Asian region.

“We believe the post Covid-19 world will add a diverse set of opportunities for us across different parts of the economy, including in technology-enabled sectors,” said Indies Capital co-managing partner Pandu Sjahrir.

In an interview with DealStreetAsia earlier this year, Indies’ managing partner Harold Ong noted that “there will be some fundamentally very good companies with a short term funding gap because of the dislocation in the market. This provides an opportunity for alternative financing sources to fill the gap.”

Founded in 2009, Indies Capital launched its first private credit fund in 2014 and closed it at $100 million. The second private credit fund closed at $145 million in September 2018.

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.