Singapore: Prestellar Ventures raises $100m from partners including Nepal’s CG Corp

Visual of Singapore downtown nightscape. Credit: Flickr/digitalpimp

Prestellar Ventures, a Singapore based private equity firm, has raised $100 million from four general partners and will invest in tech enabled startups in South Asia and ASEAN working in hospitality, consumer, financial services, and rural products and services, according to media reports.

Its general partners include CG Corp Global, a Forbes listed billion-dollar conglomerate from Nepal, India’s micro finance institution Satin Creditcare, PE firm Frontline Strategy that is an experienced investor in Indian growth capital, and N.E. Group, a family business conglomerate from Nepal.

They fund will identity innovative entrepreneurs and invest in ticket sizes of $2-3 million, typically in a pre-Series A deal. Chosen startups will also get inputs on business development and sales with the support of its general partners.

“Investing in the forefront of innovation is critical to keeping traditional businesses such as CG Corp Global relevant in the future,” said Binod Chaudhary, Director of Prestellar Ventures and the Chairman of CG Corp Global.

Binod Chaudhary, chairman of CG Corp Global; Ravi B Shrestha, vice chairman of N.E. Group; HP Singh, chairman of Satin Creditcare; and Atim Kabra, founder of Frontline Strategy sit on the board of Prestellar Ventures.

The firm is also looking to raise country specific funds, mainly for India, Sri Lanka, Bangladesh and Nepal.

Through the fund, Prestellar Ventures is looking to broaden its portfolio of tech-enabled companies outside the existing 17 companies that includes Klone World ,which creates 3D printed figurines and personalized books for kids, Mobile Labs, a mobile advertising products and solutions provider, and Park Controls and Communications, which supplies products for Indian defence, aerospace and space applications.

Astra Microwave, a producer of subsystems for defence and telecommunication sector, CBay Systems, a provider of health care technology, and Tejas Networks, a data networking products company, are among the investments made by Prestellar Ventures.

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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.