Singapore-headquartered Tanglin Venture Partners, founded by former Tiger Global Management executives Ravi Venkatesh and Edwina Yeo, has hit the final close of its first fund at around $51 million.
The fund, whose investment sweet spot is in the $3-4 million range, will target early-stage technology-focused bets in niche areas of B2B supply chain, fintech, SaaS, direct-to-consumer brands, among others. Its geographic focus is India and Southeast Asia.
“We believe that there is a massive opportunity for technology to create value – by organizing fragmented sectors, making distribution more efficient, and generally increasing affordability and accessibility,” Tanglin co-founder Edwina Yeo told DealStreetAsia.
Tanglin has already made half a dozen investments from its first fund. The venture capital has backed five Indian startups, namely, grocery supply chain Ninjacart; SME digital platform Bank Open; B2B SaaS-enabled commerce platform Moglix; direct-to-consumer home appliances startup Lifelong; and, Terraview that uses drones to measure the health of vineyards.
Tanglin has also invested in Vietnamese AI startup Trusting Social that conducts credit scoring based on telecom data in emerging markets.
Commenting on the fund’s investment strategy, Yeo said, “We invest in strong entrepreneurs & market-leading teams in big categories. We also look for companies that we believe can become profitable, sustainable businesses, and so a sensible P&L is important to us.”
Tanglin reportedly counts prominent Indian entrepreneurs among its investor base including Flipkart co-founder Binny Bansal, Udaan co-founder Sujeet Kumar, Flipkart Group CEO Kalyan Krishnamurthy, and Facebook’s Asia Pacific head Dan Neary.