The International Finance Corporation (IFC) of the World Bank Group is considering an investment of $5 million in early stage venture capital firm Wavemaker Partner’s latest fund, Wavemaker SEA Fund II, a $50 million fund targeting ventures around Southeast Asia.
The fund is a Singapore-based vehicle that will target investments in companies based in and with operations in the Philippines, Malaysia, Thailand and Indonesia, concentrating on B2B and B2B2C investments, IFC said in a disclosure on Tuesday. Further, the latest fund is sponsored by a $15 million anchor investment by Wavemaker Partners III L.P., a limited partnership formed in the US. Among limited partners (LP) backing this new fund is North American venture capital investor Timothy Draper.
