Sistema Asia Capital, the venture arm of Russian private investment firm Sistema PJSFC, is raising a $120 million fund to make investments in Southeast Asia. It has appointed Edward Tay as its new Singapore-based chief executive officer to drive its investments in the region.
Tay, who was appointed in June, told DealStreetAsia that the fund is likely to close “in the next few quarters” and is seeking capital commitments from limited partners (LPs) in North Asian markets such as Mainland China, Greater China and South Korea.
