Singapore-based venture capital (VC) firm Koru Partners is seeking to raise more than $50 million for its debut VC fund, DEALSTREETASIA has learnt.
Koru Partners describes itself as a multi-asset investment manager that dabbles in real asset fund management and venture capital. Its focus areas in venture capital are Series A and B companies in sectors such as financial inclusion, mobility service, socially driven e-commerce and decentralisation.
An executive aware of its fundraising plans said it could target to raise as much as $100 million for its first fund.
Koru Partners did not reply to a request for comment.
The asset management firm was co-founded by former PineBridge Investments executive Tim Loh and former Venturra Capital partner Tee Plern Suraphongchai. Both Loh and Suraphongchai are managing partners at the firm, with the former responsible for multi-asset class investments and the latter focusing on venture capital opportunities.
Koru Partners’ Venturra Capital connection does not end here. Stefan Jung, a managing partner at Venturra Capital, is listed as an adviser for the operations and management of the venture capital portfolio on the Koru Partners website. In addition, its team includes Kaspar Hidayat, a former 500 Startups and Venturra executive, as principal.
On its website, the new venture capital firm lists Zilingo, ShopBack, Carro, HappyFresh and Snapcart among its portfolio companies. These are all Venturra Capital-backed companies, fueling speculation that Koru may have bought into Venturra’s portfolio. This, however, could not be independently confirmed by DEALSTREETASIA.
In Indonesia, other VC firms focused on Series A-B investments include Series B and onwards-focused EV Growth, a joint venture between Sinar Mas, East Ventures and Yahoo! Japan; Intudo Ventures, which recently closed its $50-million second fund; and Sinar Mas Digital Ventures (SMDV).