VCs accumulate up to $2.5b in dry powder for Southeast Asia in last 12 months

This could be Southeast Asia’s moment under the sun. The region is set to record stronger-than-expected economic growth with the Asian Development Bank upping its GDP growth forecast for the region to 5 per cent in 2017 and 5.1 per cent in 2018, up from previous forecasts of 4.8 per cent and 5 per cent respectively.

Home to more than 600 million consumers — about 70 per cent of them under the age of 40 — Southeast Asia is also the world’s fastest growing internet market. A report by Temasek and Google last year estimated that the region’s internet economy could cross $200 billion by 2025.

Investment levels have so far lagged behind India and China. The 2016 Temasek-Google report noted that while Southeast Asia’s GDP ($2.4 trillion) was larger than India’s ($2.1 trillion) in 2014, the region bagged less than a fifth of the funding seen by the latter.

However, that may be set to change. VC firms are piling up funds to partake of Southeast Asia’s growth story. In the 12 months starting November 2016, VCs have announced plans to amass over $3.5 billion in dry powder either earmarked exclusively for the region or including it as one of their focus geographies.

Of this, funds worth about $1.5 billion have already been closed. There are currently vehicles on the road or in the offing that are targeting to raise another $2 billion. A conservative estimate for investments targeted exclusively at Southeast Asia would still be around $2-2.5 billion.

“The new funding available for Southeast Asia needs to be compared in relative terms to VC allocation versus GDP of the market. In this case, the new VC money is just playing catch up to the existing market opportunity. I can imagine more entrepreneurs to be enticed by this to start new companies as well, so the virtuous cycle of growth is further fed. In my view, this represents very healthy levels of both startup and VC activity,” said Khailee Ng, Managing Partner, 500 Startups.

What about concerns that there are not enough quality deals in the region? We asked leading VCs in the region if there were enough opportunities to deploy this massive dry powder and earn the right returns. That question was largely met with optimism.

“The money raised is a reflection of the growing opportunities in this region. A few years ago, people said the same thing about China and India (that there weren’t enough deals to deploy funds). The VCs there did not have any problem in deploying the capital that they raised,” said Thomas Tsao, Founding Partner, Gobi Partners.

Grace Yun Xia, Partner at Jungle Ventures, concurs with Tsao. She points out the VC firm has been seeing a 50 per cent year-on-year growth in the number of deals it evaluates. 

“There are definitely enough deals in this market. In 2012, Jungle Ventures looked at 250 deals a year, and in 2016, this number has gone up to 2000. So far, capital formation to support deals in this region had been lagging. Going forward, the VC dry powder will ensure that more companies will see that capital available,” she said.

What about that other pain point – the lack of funding Series B and upwards? Could the solution to that problem be within reach?

“Funds at $100 million or more will certainly have more options to play in Series B than a $10 million fund would. I think it’s great to see larger funds being formed as the region would benefit greatly from more growth capital,” said Paul Santos, Managing Partner, Wavemaker Partners.

Southeast Asia is witnessing larger fund sizes as investors demonstrate their confidence in its startups and the market potential. So, Venturecraft is launching a $500-million vehicle while the region saw its biggest funds so far being closed recently by Vickers Venture Partners ($230 million) and Vertex Ventures ($210 million).

Here are the top VC firms eyeing a slice of the Southeast Asia growth pie:

1. Venturecraft Group

Fund size: $500 million
Status: To be launched
Focus market(s): Southeast Asia

Having closed its second fund at S$50 million last year, Singapore-based VC firm Venturecraft is now raising its third fund. With a large Southeast Asian entity backing it, the firm has set an ambitious target of $500 million for its upcoming fund.

Venturecraft will look to make investments between $10 million and $50 million from this fund, which it aims to close in Q1 2018. Like its predecessor, this vehicle will target healthcare and medtech companies, including firms based in Singapore targeting the wider Asia market.

2. Vickers Venture Partners

Fund size: $230 million
Status: Closed
Focus market(s): Southeast Asia, China, India, US

In October 2017, Singapore-based Vickers Venture Partners announced raising a total of $230 million for its fifth fund, including a yuan-denominated vehicle of $40 million, making it the largest private fund in Southeast Asia. For Vickers, its latest vehicle is over three times larger than its predecessor, which closed at $81.1 million in 2012.

“About half of the latest vehicle will be for follow-on investment for our existing portfolio companies. That leaves us with about $120 million. Up to 40 per cent of that could be for Asia, which includes Southeast Asia, China and now, India,” Vicker Venture Partners chairman Finian Tan said.

3. Vertex Ventures

Fund size: $210 million
Status: Closed
Focus market(s): Southeast Asia and India

The month of October also saw Vertex Ventures, the venture capital arm of Temasek Holdings, complete its biggest fundraising for Southeast Asian and Indian technology deals. The Singapore-based firm closed its third Southeast Asian fund at $210 million, exceeding its target of $150 million.

The money will be used for early-stage investments; the VC firm aims to repeat its success with ride-hailing firm Grab where it was one of the early backers. The latest fund marked the first time the firm raised money from outside investors such as Kasikornbank Pcl in Thailand and Cathay Life Insurance in Taiwan.

4. Meranti ASEAN Growth Fund

Fund size: $200 million
Status: First close at $50 million, second close expected by year-end at $100 million
Focus market(s): ASEAN

In August 2017, Shanghai-based venture capital (VC) firm Gobi Partners announced reaching the first close of its Meranti ASEAN Growth Fund at $50 million. The growth fund will target Series B and C rounds and concentrate on cloud services, e-commerce, fintech and Muslim-focused tech (also known as TaqwaTech).

It will build a portfolio of 15 companies or more, with investment ticket sizes ranging from $5 million to $20 million per transaction. In August 2017, Gobi Partners co-led a $27 million Series B+ round in SaleStock, an Indonesian fashion e-commerce platform, marking the first investment from the Meranti ASEAN Growth Fund.

5. B Capital Group

Fund size: Undisclosed but estimated to be around $250 million
Status: Second close at $181 million
Focus market(s): India and Southeast Asia

In May 2017, B Capital Group, which counts Facebook co-founder Eduardo Saverin as a founding partner, held a second close of $181 million for its fund. The fund had raised $143.6 million a year ago and has no target amount listed. B Capital has partnered with the Boston Consulting Group and its incubation arm BCG Digital Ventures for the fund.

B Capital Group was founded by Raj Ganguly and Saverin, who moved to Singapore in 2011. It invests in financial services, healthcare, and transportation industries worldwide.

6. K2 Global

Fund size: $183 million
Status: Closed
Focus market(s): Asia, Silicon Valley

In February 2017, K2 Global, whose portfolio includes Uber and Spotify, closed its first fund at $183 million. It has invested in more than 15 companies, including Singapore’s online dating app Paktor, through the fund.

Started in 2015 to help wealthy Asian families invest in startups before they raise money through IPOs, K2 is now targeting to raise $200 million for its second venture capital fund. The second vehicle is scheduled to close early next year.

7. Global Brain

Fund size: $180 million
Status: Closed
Focus market(s): Japan, Silicon Valley, South Korea, Southeast Asia, and Israel

In July 2017, this portal reported that Japanese venture capital firm Global Brain made the final close of its sixth fund at around $180 million, a little over the targeted amount the firm had announced late last year. The final amount raised by the Japanese Yen-denominated fund may vary based on the prevailing exchange rate.

The vehicle will look closely at startups engaged in the Internet of Things (IoT), hardware, enterprise, robotics, education and commerce solutions. It aims to invest in 70-80 companies, with ticket sizes ranging from 200 million yen ($1.7 million) to 1 billion yen ($8.67 million) each.

8. NSI Ventures

Fund size: $150 million
Status: On the road
Focus market(s): Southeast Asia

In July 2017, this portal reported that Singapore-based NSI Ventures had kicked off the process to raise a $150-million fund. This will be the firm’s second fund after its inaugural $90-million fund that it had raised in 2015.

NSI Ventures is part of private equity firm Northstar Group that manages five funds and has over $2 billion in assets under management. The VC firm has so far invested in 15 companies, including Indonesia’s ride-hailing startup Go-Jek, telemedicine platform HaloDoc, Singapore’s online restaurant booking app Chope, healthtech firm CXA Group and Myanmar’s Oway Ride.

9. ST Engineering

Fund size: $150 million
Status: Launched
Focus market(s): Global

The month of July also saw ST Engineering, an integrated defence and engineering group, launch its corporate venture capital (CVC) unit with a corpus of $150 million. The new unit will target early-stage startups in robotics, autonomous technology, data analytics and cybersecurity.

ST Engineering said it will establish technology scouting offices in Singapore, Israel and in the US initially, to cover the Asia Pacific, Europe & Middle East and the Americas.

10. Hatcher+

Fund size: $125 million
Status: Launching soon
Focus market(s): Emerging markets

Data-driven venture investment platform Hatcher+ comes from the stable of Hatcher, a VC fund and incubator. The upcoming $125-million fund will make AI and machine learning-assisted co-investments into more than 1,000 early-stage companies over the next two years in partnership with leading accelerators, angel groups, and other investors from around the world.

“This investment caps two years of intensive research and development and is a strong endorsement of our data-driven strategy. We now have the technology, the data, the backing, and the partners we need to execute,” John Sharp, co-founder and partner, Hatcher+ said in a statement.

11. Mountain Partners

Fund size: $100 million
Status: Announced
Focus market(s): Southeast Asia

Swiss company builder Mountain Partners recently announced it is setting up a $100-million fund to invest in Southeast Asian startups. To tap the opportunities in the region, Mountain Partners is also establishing its operations hub in Malaysia.

The Swiss firm had entered the Malaysia market with the acquisition of investment firm Qeerad in 2016. That acquisition landed the Zurich-headquartered firm into the fourth country in Southeast Asia after Indonesia, Thailand and the Philippines.

12. Jungle Ventures

Fund size: $100 million
Status: Closed
Focus market(s): Southeast Asia, India and Australia

In December 2016, Singapore-based venture capital firm Jungle Ventures made the final close of its second fund, meeting its target of $100 million. The second fund is ten times larger than its first fund of $10 million, which it raised in 2012.

“The fund will largely target Series A and select Series B investments primarily in Southeast Asia, as well as, on a more opportunistic basis, businesses in India and Australia particularly where such businesses may benefit from expansion into Southeast Asia,” the investment firm had then said in a statement.

13. Mistletoe

Fund size: $100 million
Status: Undisclosed
Focus market(s): Southeast Asia

Started by billionaire tech investor Taizo Sun, Mistletoe is a combination of an early-stage venture firm, incubator and entrepreneur-in-residence program. Son, who built his fortune on hit smartphone game Puzzle & Dragons, plans to invest $100 million in Southeast Asian startups within five years. Among his existing investments in the region is games and e-commerce operator Garena, the most valuable startup in Southeast Asia.

14. CapBridge

Fund size: $100 million
Status: Launched
Focus market(s): Singapore

In February 2017, Singapore’s CapBridge announced it is launching a $100 million pre-IPO (initial public offering) fund in collaboration with Gordian Capital. The growth-stage VC fund aims to link startups with institutional investors and is a sub-trust fund under the CapBridge Investment Trust (CIT), a rules-based trust investing in private securities.

CIT will not be competing with VC firms but will operate in a complementary co-investment role.

15. Jubilee Capital

Fund size: $100 million
Status: First close at $30 million
Focus market(s): Southeast Asia, China, Israel and US

In November 2016, Singapore-based Jubilee Capital Management announced the first close of its $100 million Jubilee Tech Fund, a venture capital fund for tech startups in Southeast Asia, China, Israel and US. The early-stage investment firm’s fund is aimed at investing in post-seed to Series A stage tech startups.

16. MDI Ventures

Fund size: $100 million
Status: First close at $30 million
Focus market(s): Southeast Asia, China, Israel and US

In November 2016, this portal reported that Telkom’s corporate venture capital, MDI Ventures, plans to invest $100 million into global and domestic startups across four years.

MDI Ventures participates as minority investors in most of its portfolio companies – up to 20 per cent in equity – with ticket size ranging from half a million dollars to about $5 million. The firm is open to partnering with external funds to target investment opportunities; it has already signed an agreement with Telstra Ventures to jointly explore opportunities in Southeast Asia.

17. BEENEXT

Fund size: $75 million
Status: Launched (spun-off unit)
Focus market(s): Southeast Asia, India, Japan and the US

In June this year, BEENEXT, a Singapore-based VC firm investing in early-stage tech companies, announced that it had spun off its fund from the Gordian Capital platform. The vehicle, which was launched over two years ago and has a corpus in excess of $75 million, will look to invest in the areas of marketplaces, payments, fintech, and software as a service. It has made over 80 investments to date.

18. Kejora

Fund size: $80 million
Status: First close in February, final close by year-end
Focus market(s): Indonesia

In February, Indonesia-focused early-stage investor Kejora announced achieving the first close of its second fund, raising about one-third of its targeted $80 million. Ticket sizes are expected to range between $3 million and $5 million per deal.

The fund has already committed capital to several startups including C88Fintech Group, Qareer Group Asia, Etobee, Investree, Pawoon and MoneyTable.

19. 500 Startups 

Fund size: $80 million ($20-million TukTuks II for Thailand, $10-million Vietnam fund, $50-million Durians II)
Status: To be closed in the next couple of months
Focus market(s): Thailand, Vietnam, Southeast Asia

500 Startups, one of the most active investors in Southeast Asia, is set to close three of its regional funds in the next couple of months. These include the $50-million Durians II focused on the entire Southeast Asia region, the $10-million Vietnam micro-fund and the $20-million TukTuks II focused on investments in Thailand.

In January, 500 TukTuks I, the Thailand-focused micro fund, had hit its final close at $15.4 million, over 50 per cent higher than its initial target of $10 million.

20. GREE Ventures

Fund size: $67 million
Status: Closed
Focus market(s): Japan, Southeast Asia and India

In May, this portal reported that Tokyo-based VC firm GREE Ventures, one of the most active investors in Southeast Asia, has hit the final close of its second fund at $67 million. Ticket sizes will range from $0.5 million to $3 million for Seed to Series A stage startups.

21. Wavemaker Partners

Fund size: $66 million
Status: Closed
Focus market(s): Southeast Asia

This month, early-stage venture capital firm Wavemaker Partners announced it has closed its second Southeast Asia-focused vehicle at $66 million, exceeding its target of $50 million by 32 per cent. Singapore-based Temasek Holdings Pte, World Bank Group’s IFC, as well as prominent companies and family offices from the region invested in the vehicle.

The fund has already made follow-on investments in Philippine-based financial services Coins.ph, cloud communications firm Wavecell, fashion marketplace Zilingo, and industry-specific payment solutions Red Dot Payment. The fund closure announcement came just a few days after AddVentures, the corporate venture capital (CVC) arm of Thailand-based business conglomerate Siam Cement Group (SCG), announced its investment in Wavemaker Partners.

22. Dymon Asia Ventures

Fund size: $50 million
Status: First close at $20 million
Focus market(s):

Dymon Asia Ventures is the fintech-focused venture arm of alternative asset manager Dymon Asia Capital. In March, the VC firm hit the first close of its maiden fund, which is targeting to raise about $50 million, at $20 million. Limited partners in the fund include Digital Ventures, a fintech-focused firm under the umbrella of Thailand’s Siam Commercial Bank (SCB).

Dymon Asia Ventures is looking to hit the final close for this vehicle by the year-end. Portfolio companies include blockchain firm Otonomos, financing startup Capital Match, forex-focused 4XLabs and credit management services provider AsiaCollect.

23. Alpha JWC Ventures

Fund size: $50 million
Status: Closed
Focus market(s): Indonesia

Alpha JWC Ventures recently closed its $50-million first fund. The VC firm targets opportunities in fintech, software-as-a-service (SaaS), Big Data analytics and e-commerce. It has backed 15 companies from the first fund, including co-working space operator Spacemob, fintech startups Funding Societies, UangTeman, OnlinePajak and Sepulsa), marketplace Carro and e-commerce firms StyleTheory and Sale Stock. It recently made its first exit with the acquisition of Spacemob by US-based co-working space giant WeWork in August this year.

24. Qualgro ASEAN Fund I

Fund size: Over $50 million
Status: Launched
Focus market(s): ASEAN

In June, Qualgro and Gordian Capital announced the spin-off of the Qualgro ASEAN Fund I, L.P. from the Gordian Capital platform, with a corpus in excess of $50 million.

The fund makes VC investments with a primary focus on Series A and Series B in Southeast Asia, Australia & New Zealand. It targets B2B startups in the areas of data, enterprise and SME SaaS, and fintech. To date, the fund has made 14 investments in various portfolio firms, including Appier, Mobikon, Data Republic, Nura and Oway.

25. Spiral Ventures

Fund size: $50 million
Status: Likely to have made the first close at $15-20 million
Focus market(s): Southeast Asia and India

Spiral Ventures is a rebrand from its previous entity, IMJ Investment Partners, which had made over 30 investments largely in seed stage startups across Southeast Asia and South Asia since its inception in 2012.

The new vehicle will continue to invest in startups in the region, targeting Series A and B stages with cheque sizes between $500,000 and $1 million for Southeast Asia, as well as seed and series A rounds ranging $300,000-500,000 for South Asia, particularly India.

26. Convergence Ventures

Fund size: $30 million
Status: Closed
Focus market(s): Southeast Asia

In November 2016, Indonesian VC firm Convergence Ventures announced the final close of Convergence Capital I with over $30 million in commitments, or 20 per cent higher than its original target of $25 million.

The firm plans to invest in a total of 30 early-stage startups from the fund with a focus on the most disruptive digital and mobile opportunities in Indonesia. Recent additions to its portfolio include Indonesia’s co-working space startup ReWork, fashion e-commerce firm SaleStock and HR startup Urbanhire.

27. East Ventures

Fund size: $57.5 million
Status: Closed ($27.5 million in Jan, $30 million in September)
Focus market(s): Southeast Asia, with a special focus on Indonesia

In January 2017, seed stage investor East Ventures closed its fifth fund for Southeast Asia at $27.5 million. This was followed by a $30 million early-stage fund in September to invest in technology startups in the region, particularly Indonesia. The fund – which will be the sixth managed by Willson Cuaca, Batara Eto, and Taiga Matsuyama – will disburse funds for seed to Series A stages.

East Ventures is among the most active technology investors in the region. This year, it joined China’s JD.com, Hillhouse Capital Group, and Sequoia Capital in the Expedia-led $500 million funding in online travel firm Traveloka.

28. Vulpes Investment Management

Fund size: $25 million
Status: Launch in October
Focus market(s): Myanmar

In September, this portal reported Singapore-based investment firm Vulpes Investment Management’s plans to raise a $25-million Myanmar-focused fund to invest in tech and non-tech companies. The fundraising process for the second fund – Vulpes Innovative Myanmar Investment Company (VIMIC) focused solely on Myanmar – was scheduled to start this month.

The fund will continue to focus on “early stage ventures and also be investing in growing companies in Myanmar that aren’t in the early stage tech space,” said Field Pickering, director of VIMIC Limited. Ticket size will range between $1 million and $5 million in each company.

29. Insignia Ventures Partners

Fund size: $25 million
Status: Closed
Focus market(s): Southeast Asia

In September 2017, Singapore-based Insignia Ventures Partners, which was founded by former Sequoia Capital venture partner Yinglan Tan, was reported to have raised $25 million for its debut fund.

The fund will target technology startups operating in Southeast Asia. Soon after, it led a $3.5 million pre-Series A round in Indonesia’s co-working chain EV Hive.

30. Cradle Seed Ventures

Fund size: $20 million
Status: To be launched
Focus market(s): Malaysia (70 per cent allocation), other markets

Cradle Seed Ventures (CSV), the venture capital arm of Malaysia’s early stage financier Cradle Fund, is preparing to launch its second fund CSV II at close to $20 million, this portal reported recently. CSV has, however, not yet firmed up the dates for the launch of the new second fund that will focus on technology companies in consumer-facing sectors.

The VC firm is currently deploying funds from its first fund, an MYR40 million (nearly $9.5 million) vehicle. This fund’s deployment has already hit close to 70 per cent of the total capital.

31. ESP Capital

Fund size: $20 million
Status: Closed
Focus market(s): Vietnam

ESP Capital is incorporated in Singapore, but based in Vietnam and primarily makes investments into Vietnamese startups. However, the fund remains open to exploring opportunities in other Southeast Asian countries. Officially launched in June, the VC firm has invested in three early-stage startups, including rental company Luxstay, real estate media Homedy.vn and flash deal website JamJa.

32. SeedPlus

Fund size: $18 million
Status: Closed
Focus market(s): Asia

In April 2017, SeedPlus, the seed-stage VC firm backed by Jungle Ventures and Accel Partners, announced closing its debut fund at a total of S$25 million, or about $18 million. Other backers include IFC, Cisco and Eight Roads Ventures, the investment arm of Fidelity, and Indian business tycoon Ratan Tata.

Investments so far include Moglix, an Indian B2B e-commerce platform specialising in maintenance, repair and operations (MRO); Mimetic.ai, a tech startup behind an artificial intelligence (AI) scheduling assistant; and Homage, a Singapore-based startup that connects in-home caregivers with elderly people seeking assistance.

33. Intudo Ventures

Fund size: $10 million
Status: Closed
Focus market(s): Indonesia

In June 2017, Indonesia-focused VC Intudo Ventures announced the close of its $10-million debut fund. The firm, led by global investors Eddy Chan, Patrick Yip, and Timothy Chen, will be leading seed and Series A rounds with a target ownership of 15-25 per cent on a fully-diluted basis.

The initial ticket size of an investment into a portfolio company is between $200,000 and $1.25 million, with a provision for additional capital to participate in follow-on financings.

34. Cocoon Capital

Fund size: $7 million
Status: Closed
Focus market(s): Southeast Asia

Launched in December 2016 by angel investors William Klippgen and Michael Blakey, Cocoon Capital focuses on B2B or B2B2C digital businesses with the main focus on SaaS, e-commerce and fintech. Its cheque sizes range from $250,000 to $700,000.

As a VC, it takes no management fee and caps the number of deals it undertakes annually to five. This year, it has backed Singapore’s events platform Hapz, Vietnamese influencer platform Hiip and Philippine e-commerce startup Poundit.

35. KK Fund

Fund size: Undisclosed
Status: Closed, announcement expected soon
Focus market(s): Southeast Asia, Hong Kong and Taiwan

Singapore-based venture capital firm KK Fund, which made the first close of its second venture fund in July last year, is expected to announce the fund’s final close soon.

Targeting early-stage investments in Southeast Asia, Hong Kong and Taiwan, the fund is backed by seed-stage Japanese VC firm Incubate Fund, Tokyo Stock Exchange-listed Sega Sammy Holdings and Septeni Holdings, Taizon Son’s Mistletoe, several family offices and individuals from Japan. Typical ticket sizes under the latest fund would range between $400,000 and $500,000 per startup.

36. Innovatube

Fund size: $5 million
Status: Closed in Feb 2017
Focus market(s): Southeast Asia, with strong focus on Vietnam

The Innovatube Fund focuses on frontier tech areas, which include virtual/augmented reality, IoT, artificial intelligence, fintech and blockchain, even as the firm said it was open to any potential projects in other verticals. Each investment by Innovatube Fund will be in exchange for 5-10 per cent equity of a portfolio startup.

The new fund targets startups across Southeast Asia, with a strong focus on Vietnam.

37. Axiata Digital Innovation Fund

Fund size: $5 million
Status: Closed
Focus market(s): Cambodia

In March this year, ADIF launched the Smart Axiata Digital Innovation Fund, its $5 million venture capital fund for Cambodian companies. The fund was launched in partnership with Mekong Strategic Partners (MSP) and looks to invest in ideas and businesses in the digital ecosystem. Disbursements from the Cambodia fund will be in the range of $25,000 to $500,000 per deal.

 

If we have missed out on any of the VCs who have closed their funds in the last 12 months, do drop us a note: editor@dealstreetasia.com

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.