Tanglin Venture Partners launches $50m fund for SEA, India investments

Photo by Pepi Stojanovski on Unsplash

Singapore-headquartered Tanglin Venture Partners has joined the growing list of new VCs in Southeast Asia with a $50-million fund targeted at investments in Southeast Asia and India.

The firm’s co-founders are Ravi Venkatesh, also a managing partner at the firm, and Edwina Yeo, whose LinkedIn profile mentions she is a partner at Tanglin. Both Venkatesh and Yeo are Tiger Global Management alumni, having worked in its portfolio management team.

When contacted, Venkatesh refused to divulge more information about the fund at this point. The fund launch was first reported by Tech in Asia.

Tanglin joins several other new entrants in the venture capital space in Southeast Asia. Among first-time funds, the most prominent remains Singapore-headquartered B Capital, a global fund focused on Series B to D investments, which raised $360 million last year.

Another large new VC player in 2018 was Grab Ventures, the accelerator and investment unit of ride-hailing and payments unicorn Grab. Launched in June, it announced plans to invest up to $250 million in startups based in Indonesia, the home turf of archrival Go-Jek.

In Indonesia, Latitude Venture Partners, the venture capital arm of Indonesian conglomerate Sinar Mas, jumped into the fray. The healthcare-focused VC, which launched operations with a $200-million corpus, is spearheaded by third-generation Sinar Mas heir Linda Wijaya.

DEALSTREETASIA was the first to report about Go-Jek’s venture arm, Go-Ventures, last year. The Indonesian unicorn later confirmed the existence of its venture capital unit. While it did not disclose a target corpus for the unit, industry estimates peg it at $175-180 million. Unlike rival Grab, Go-Jek is seeking external capital for its venture arm.

Other prominent first-time funds unveiled in 2018 include former Sequoia Asia partner Yinglan Tan’s Insignia Ventures Partners, which raised $120 million for its debut vehicle, and the $100-million funds announced by Tin Men Capital, VinaCapital and ComfortDelGro.

Also Read:

2018 saw SE Asia’s VC firms announce over $2b in additional dry powder

Here are Southeast Asia’s largest venture capital funds of 2018

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.