Tanglin Venture Partners closes early-stage fund at around $51m

Buildings stand in the central business district as the sun sets in Singapore, on Sunday, June 4, 2017. Photographer: Sanjit Das/Bloomberg

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.

 

 

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.