- Square Peg preps $550M fund for 2024, doubling down in Southeast Asia.
- The VC firm eyes fintech, AI, SaaS and climate tech stars.
- Stellar returns fuel expansion after $738.8M gains, 16 exits.
The venture capitalists at Square Peg Capital are gearing up for a major money grab. This savvy firm is looking to raise a whopping $550 million fund, marking their sixth investment vessel to set sail.
The fundraising festivities are scheduled to kick off in the latter half of 2024, so get those wallets ready!
Steady as she goes
According to Tushar Roy, Square Peg’s partner-in-crime, there’s no need to supersize this fund given the current market climate.
The company plans to double down on its existing playgrounds across Australia, Southeast Asia, and Israel while expanding their Singapore squad under the newly minted partner, Leila Lee, who’ll be spearheading the fundraising fiesta.
Where the magic happens
When it comes to deploying their hard-earned cash, Square Peg knows where the real action is. This new fund will continue their quest for the crème de la crème in fintech, AI, SaaS, and climate tech.
Expect these savvy investors to make three to four power moves per year, targeting companies primed to deliver stellar returns on their investments.
Square Peg has already raked in over $738.8 million for their investors, boasting an impressive 4.6x return on capital and an eye-popping 44% internal rate of return.
These profits stem from 16 successful exits, with an average 6x multiplier.
To read the original article: https://www.techinasia.com/square-peg-raise-550m-fund-2024
