Data & Intelligence

Southeast Asia 2021 Data Insight

After a record-breaking 2019, GPs raised USD1.9b

Southeast Asia-dedicated funds raised USD1.9b in 2020 as fewer venture capital (VC) managers returned to raise capital after a historic year in 2019. Seed and early-stage fund managers accounted for 92% of the USD628m collected by VC strategies in 2020, led by final closes from Wavemaker Partners’ USD112m third fund and ATM Capital’s USD100m debut fund. Private equity (PE) fundraising remained on par with 2019 as nine GPs collected USD1.1b. Most notably, the Northstar Group raised USD310m in a second close for its fifth growth fund. Managers raising country-specific funds found success in 2020, accounting for 11 of 28 private capital funds with a reported close. Three country-dedicated PE funds reached final closes, including Ascent Capital’s USD88m debut Myanmar fund, Navegar’s USD197m second Philippines fund, and Mekong Capital’s USD246m fourth Vietnam fund.

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Renuka Ramnath | Founder, Managing Director & Chief Executive Officer, Multiples Alternate Asset Management Private Limited

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