<article>Early-stage investor Wavemaker Partners is looking to raise $80-100 million for its third Southeast Asia fund, according to two industry executives aware of its plans.</article>

Early-stage investor Wavemaker Partners is looking to raise $80-100 million for its third Southeast Asia fund, according to two industry executives aware of its plans.
The venture capital firm is currently soft marketing the fund, said one of the executives.
The fund size and fundraising schedule have, however, not been formalised yet and are subject to change, said the second.
When contacted, Wavemaker Partners Southeast Asia managing partner Paul Santos said the firm has no comment to offer at this point.
B2B and deep tech-focused Wavemaker Partners had <a href="https://www.dealstreetasia.com/stories/wavemaker-closes-66m-venture-fund-southeast-asia-84108/">last raised $66 million for its second Southeast Asia vehicle</a> in October 2017, exceeding its $50-million target. The firm has invested in 75 companies from the second fund.
Limited partners in the second fund included Singapore-based Temasek Holdings, World Bank&#8217;s International Finance Corp, Tim Draper, and top corporates and family offices from the region.
Wavemaker typically makes small investments at the seed stage, with an average ticket size of around $250,000. Portfolio companies include fashion and lifestyle marketplace Zilingo, enterprise fraud management solution provider CashShield, 3D printing startup Structo, and artificial intelligence, AML solutions provider SilentEight.
What has made Wavemaker a name to reckon with among startups and investors in Southeast Asia is its track record on exits, which are typically hard to come by in the region. According to Crunchbase, it has made five exits so far.
Prominent exits include cosmetics e-commerce startup Luxola that was acquired by LVMH, work chat app Pie (bought by Google) and mobile advertising startup Art of Click (sold to Xurpas for $45 million).
About 80 per cent of Wavemaker’s portfolio comprises startups in the B2B space while over 20 per cent is in deep tech. Zilingo is an outlier in that it caters to a mix of B2B and B2C users. This portal earlier reported that <a href="https://www.dealstreetasia.com/stories/zilingo-series-d-funding-104792/">the fashion startup is in discussions to raise another round</a>, which could be as big as $80 million, at a valuation of over $500 million.
Investing in the region since 2012, the firm is led by Eric Manlunas and Santos, both former entrepreneurs. Wavemaker recently added PropertyGuru co-founder Steve Melhuish as venture partner and investment banking veteran Sui Ling Cheah as operating partner.
In his new role, Melhuish will help the VC firm source new investments, evaluate potential deals, and advise portfolio companies while Cheah will help the more mature companies in the portfolio with business development, follow-on financing, and exits. 

Also Read:
<a style="color: #ff0000;" href="https://www.dealstreetasia.com/stories/zilingo-series-d-funding-104792/">Zilingo in talks with existing investors to raise $80m Series D funding</a>
<a style="color: #ff0000;" href="https://www.dealstreetasia.com/stories/wavemaker-partners-melhuish-sui-100500/">PropertyGuru’s Steve Melhuish joins early-stage VC firm Wavemaker Partners</a>
<a style="color: #ff0000;" href="https://www.dealstreetasia.com/stories/temasek-ggv-cashshield-funding-100623/">Singapore: Temasek, GGV co-lead CashShield’s $20m Series B</a>

B2B and deep tech-focused Wavemaker Partners had last raised $66 million for its second Southeast Asia vehicle in October 2017, exceeding its $50-million target.

Wavemaker Partners said to plan $80-100m third Southeast Asia fund

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Wavemaker Partners said to plan $80-100m third Southeast Asia fund

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