Asia-focused impact investor Patamar Capital hits first close of new VC fund at $23.6m

Photo: Patamar Capital website

Patamar Capital, an impact investor that specialises in early-stage investments, has raised $23.6 million for the first close of its new venture capital fund, Patamar Fund II, according to its US SEC filing.

The new fund, which has a target of $150 million, received commitments from 27 investors since its launch in May and Patamar Capital, formerly known as Unitus Impact LLC, expects the fundraising to be completed in less than a year.

The firm raised $45 million through its first Unitus Livelihood Impact Fund in 2016. The investor has supported 14 companies through the first vehicle, which is now fully deployed.

Some of Patamar’s investments through its first fund include Indonesian healthcare startup mClinica, Vietnamese for-profit social enterprise iCare Benefits and the Philippines’ jobs portal Kalibrr, among others.

With its latest fund, Patamar Capital is expected to back 20-25 early and growth-stage startups that are working on enhancing livelihood opportunities for communities in South and Southeast Asia, DEALSTREETASIA has learnt.

Patamar typically makes early-stage (Series A) and selective growth-stage (Series B) investments. The firm actively invests in the geographies of India, Indonesia, Vietnam, and the Philippines.

“We make venture capital investments in high-growth companies solving South and Southeast Asia’s most pervasive problems at scale,” the firm said on its website.

The firm also applies a gender lens in identifying undervalued opportunities. According to Criterion Institute, gender lens investing is incorporating gender analysis into financial analysis in order to make better decisions.

Patamar had earlier set aside $2-3 million to invest in woman-focused startups in Indonesia, Vietnam, and the Philippines. The initiative is said to have closed four deals already in the range of $200,000 to $300,000 in women-led businesses at the seed or pre-Series A stage.

It made its first direct investment from its women SME-focused fund by leading a funding round for Indonesia’s farm-to-table fresh produce distribution platform SayurBox. The round was joined by Insignia Ventures and a clutch of angel investors.

Most recently, Patamar capital led the Series A funding round for Supahands, a Malaysia-based provider of training data for machine learning and artificial intelligence. The amount raised in the funding was not disclosed.

The firm also backed a funding round for Kinara Capital, an Indian company that provides flexible loans without property collateral to small business entrepreneurs.

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.