Insignia Ventures Partners has raised $516 million for its latest fund, as the Southeast Asia-focused early-stage tech venture fund doubles down on investments in the region’s digital economy.
The five-year-old firm, which has backed over 70 companies, said the fundraising included $388 million for Insignia’s third fund, a $100 million pool of entrepreneurs investing alongside the main fund of $28 million invested in Annex Fund I.
Venture capital firms have been ramping up investments in Southeast Asia as consumers increasingly adopt digital platforms as the COVID-19 pandemic powers start-ups across many industries.
Insignia said its third fund was oversubscribed, with investors including sovereign wealth funds, university endowments and family offices from Asia, Europe and North America.
- Stocks in Focus: Titan, Aurobindo Pharma, Britannia Industries, and Others
- Stocks Under F&O Ban: Balrampur Chini, Aditya Birla Fashion, Biocon, and Others
- How to choose the Best Stocks for Intraday F&O trading in India?
- Vedanta Outlook for the Week (May 06, 2024 – May 10, 2024)
- Tata Steel Outlook for the Week (May 06, 2024 – May 10, 2024)
Like their global peers, shares of Southeast Asian tech companies have fallen sharply since last year as investors hesitated over higher valuations and a slowing economy. Insignia’s portfolio includes Southeast Asian auto market Carro, Indonesia’s largest technology company GoTo and Indonesian digital investment platform Ajaib.