Early-stage impact investor Patamar Capital has announced a partnership with Vulpes Investment Management Pte Ltd (Vulpes) for the Singapore fund management of its new vehicle, Patamar Fund II, LP, according to an announcement.
“Patamar has partnered with Vulpes because we share the same ethos investing in innovative companies in Asia’s most dynamic and quickly-growing geographies,” said Patamar co-founder and partner Beau Seil.
DEALSTREETASIA had earlier reported that Patamar Capital has raised $23.6 million for the first close of its new venture capital fund, Patamar Fund II.
The new fund, which has a target of $150 million, received commitments from 27 investors since its launch in May. It expects to back 20-25 early and growth stage startups in South and Southeast Asia.
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.
It had earlier set aside $2-3 million to invest in woman-focused startups in Indonesia, Vietnam, and the Philippines.
Meanwhile, Singapore-based Vulpes – founded in 2011 by Steve Diggle, the co-founder of Artradis Fund Management – has been managing third-party funds since 2001 and has been actively investing in venture capital in Southeast Asia since 2011.
Last year, Vulpes rebranded its country-focused Vulpes Innovative Myanmar Investment Company as Seed Myanmar, a vehicle dedicated to making early-stage technology investments.
“Vulpes is proud to work with the most active VC firm driving strong impact through its investments in Southeast Asia over the last 10 years,” said Vulpes founder and CEO Steve Diggle, commenting on the partnership with Patamar.
