Wavemaker Partners raising $120m fourth SE Asia fund; IFC likely to come in as LP

Wavemaker Partners raising $120m fourth SE Asia fund; IFC likely to come in as LP

Wavemaker Partners managing partner Paul Santos. Photo: Wavemaker Partners

Singapore and Los Angeles-based seed investor Wavemaker Partners is in the market again to raise its fourth Southeast Asia-focused fund, with a target corpus of $120 million, according to a disclosure made by the International Finance Corporation (IFC).

IFC, a member of the World Bank Group, is proposing an equity investment of up to $10 million in the fund – Wavemaker SEA Fund IV – but not exceeding 20 per cent of the vehicle’s total capital commitments.

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