Wavemaker to close $50m SEA fund; Indonesia to be main driver

Left: Paul Santos, managing partner of Wavemaker. Right: Tim Draper

Venture capital firm Wavemaker Partners on Thursday announced that it is finalizing a close on its Southeast Asia-focussed $50 million fund, its second for the region and fifth overall, with Indonesia as the main driver.

Managing partner Paul Santos told this portal that the fund has been deployed to about 40 companies. In total, the firm is hoping to hit 80 startups, injecting seed to pre-series A fundings.

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