Quest Ventures targets final close for second fund in March 2021

Singapore-based venture capital firm Quest Ventures expects to hold the final close of its $50-million fund in March 2021, according to a top executive of the firm.

The vehicle, which targets early-stage digital startups across Southeast Asia, scored its first close in April 2020. Limited partners (LPs) comprising Temasek’s Pavilion Capital, Kazakhstan’s sovereign wealth fund subsidiary QazTech Ventures and multiple family offices and entrepreneurs have committed more than half of the fund’s target corpus.

“Southeast Asia and India are still where we and the LPs continue to see the growth is in,” James Tan, managing partner at Quest Ventures, told DealStreetAsia in a recent interview.

“Key markets for us are Indonesia, Malaysia, Singapore and Vietnam. The rest of Southeast Asia will be what we call secondary markets,” he added.

Geographically, the Singapore VC firm has a strong focus on Vietnam, where it has set aside $10 million to invest in early-stage startups. Tan said that Quest Ventures has been evaluating at least 80-100 deals on a monthly basis.

Edited excerpts of the interview:

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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.