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VC

Asia Partners Closes $474 Million Second Fund, Reaches $1 Billion AUM

Archy Ehan
Last updated: February 12, 2024 1:42 pm
Archy Ehan
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  • Singapore’s Asia Partners secured $474 million for its second fund.
  • Backing 7 Southeast Asian companies, Asia Partners leverages hands-on help and regional expertise.
  • Asia Partners spots and assists promising regional breakouts.

Contents
Securing $474M for the second fundExpectation exceeds

Securing $474M for the second fund

Singapore-based growth equity firm Asia Partners has announced the final close of its second flagship fund, securing $474 million in fresh capital commitments from LPs. With total assets exceeding $1 billion, the fundraising underscores investor conviction in Asia Partners’ Southeast Asia investment strategy.

Dubbed Asia Partners II LP, the new fund crossed its target to raise 23% more than the firm’s $384 million debut vehicle in 2019. Founded by ex-Northstar Group managing partner Nick Nash, Asia Partners focuses on technology-enabled companies reaching inflection points.

“We continue to believe this decade will be a golden age of entrepreneurship and innovation for Southeast Asia,” said partner Oliver Minho Rippel, citing sizable market opportunities. The firm has built a portfolio of 7 companies spanning e-commerce, healthcare, fintech, and other high-growth sectors.

Expectation exceeds

Notable investments include unicorns like cross-border shopping platform ShopBack and telehealth provider Doctor Anywhere. Asia Partners says its hands-on approach and regional operating expertise help portfolio companies scale efficiently amid SEA’s post-pandemic internet economy boom.

Asia Partners appears poised to cement its reputation for identifying and adding value to promising Southeast Asian breakout stars.

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