Singapore-based venture capital firm Quest Ventures is on track to hit the first close of its $50-million early-stage Southeast Asian fund by December.
According to one source close to the development, Quest Ventures is targeting a $25-million first close. It is understood to have garnered interest from limited partners (LP) including two sovereign wealth funds, one of them based in Singapore. The source further added that one of these sovereign wealth funds will be signing an agreement to invest with the Singapore-based VC as soon as this weekend.
