- Singapore’s Northstar closed $140M debut fund for early-stage SEA startups.
- Investors include global sovereign wealth and high-net-worth backers.
- Northstar plans more early funds to expand regional exposure.
Singapore-based VC firm Northstar Group has raised $140 million for its inaugural tech fund focused on Southeast Asia.
Their focus
The new Northstar Ventures I fund will invest primarily in the region’s early-stage consumer internet, fintech, and SaaS startups.
Led by Indonesian tech leader Patrick Walujo, Northstar has already backed over 10 companies out of the fund, including UTown, Gently, Maka Motors, and Locofy.
$4bn deployed in SEA already
Since 2003, the firm has deployed $4 billion in Southeast Asia alongside its co-investment partners.
The fund attracted global sovereign wealth funds, institutions, family offices, and high-net-worth individuals.
With NSV I closed, Northstar has over $2.6 billion in assets under management.
Looking forward
“We plan to leverage our network of portfolio companies, partners, and regional founders to help grow our early-stage investments,” said Carlson Lau, Managing Director at Northstar Ventures.
The firm will likely look to raise additional early-stage funds to deepen its Southeast Asia exposure.
