Who Are the Most Active Tech Investors in Southeast Asia?

Southeast Asia is a strong market for venture capital and private equity investments, generating USD 14.1 billion of announced deals in 2018. With the growth of the tech industry, investors are also putting more attention on tech-based startups and companies. Who are some key players in Southeast Asia’s tech investment landscape?

Here are some venture capital and investment firms currently active in Southeast Asia’s tech scene.

1. 500 Startups

500 Startups LogoFounded: 2010

Number of investments: 2.011 (Crunchbase, September 2019)

Example portfolio:

  • BukaLapak (Indonesia)
  • HappyFresh (Indonesia)
  • Carousell (Singapore)
  • Grab (Singapore)
  • Revolution Precrafted (Philippines)

500 Startups is a US-based venture fund and seed accelerator founded by entrepreneurs Dave McClure and Christine Tsai. The fund has since expanded into a global scale, having supported more than 74 countries and 2.200 startups in its portfolio.

In Southeast Asia, 500 Startups invests primarily through its regional affiliate called 500 Durians — awarded as the region’s most active tech investor in 2017. 500 Durians has invested in multiple sectors from the internet to deep learning, including several of the region’s unicorns.

2. East Ventures

East Ventures LogoFounded: 2010

Number of investments: 207 (Crunchbase, September 2019)

Example portfolio:

  • Tokopedia (Indonesia)
  • Traveloka (Indonesia)
  • 99.co (Singapore)
  • Stockradars (Thailand)
  • Allsome (Malaysia)

Founded in Indonesia, East Ventures (EV) is one of the first and longest-running native venture capital (VC) firms in the region. It has expanded its portfolio across Southeast Asia and into other Asian markets such as Japan, while still being a leading investor in Indonesia.

Besides investing in prominent unicorns like Tokopedia and Traveloka, several EV companies have also achieved successful exits such as payment platform Kudo’s acquisition by Grab and e-ticketing platform Loket’s acquisition by Go-Jek.

3. Golden Gate Ventures

Golden Gate Ventures LogoFounded: 2011

Number of investments: 77 (Crunchbase, September 2019)

Example portfolio:

  • Go-Jek (Indonesia)
  • Printerous (Indonesia)
  • Stripe (Singapore)
  • Carousell (Singapore)
  • Baokim.VN (Vietnam)

Golden Gate Ventures is a Singapore-based early-stage venture capital firm focusing primarily on Southeast Asia. As of 2019, its portfolio companies are active in Singapore, Indonesia, Malaysia, the Philippines, Thailand, and Vietnam.

The firm invests in consumer internet products and services across many sectors, including e-commerce, payments, marketplaces, mobile applications, and SaaS.

4. CyberAgent Capital

CyberAgent Capital LogoFounded: 2006

Number of investments: 155 (Crunchbase, September 2019)

Example portfolio:

  • Tokopedia (Indonesia)
  • Ralali (Indonesia)
  • Viddsee (Singapore)
  • Tiki.VN (Vietnam)
  • VNG (Vietnam)

CyberAgent Capital is a Japan-based venture capital firm investing primarily in technology companies in Asia. Its portfolio includes companies in Asian markets like Korea, China, and Taiwan, as well as Southeast Asia including Indonesia, Thailand, and Vietnam.

CyberAgent has invested in a wide array of companies in sectors like mobile applications, e-commerce, mobile gaming, advertising, social media, and the internet. These companies include some of the region’s unicorns such as Indonesia’s Tokopedia and Vietnam’s VNG.

5. Wavemaker Partners

Wavemaker Partners LogoFounded: 2003

Number of investments: 376 (Crunchbase, September 2019)

Example portfolio:

  • Moka (Indonesia)
  • Snapcart (Indonesia)
  • Microsec (Singapore)
  • KrASIA (Singapore)
  • Kalibrr (Philippines)

Wavemaker Partners is an international early-stage venture capital firm dual-headquartered in Los Angeles and Singapore. In Southeast Asia, they primarily invest in companies in the B2B, consumer, and deep tech sectors, with over 20 percent of their investments in deep tech.

They are also part of the Draper Venture Network (DVN), an international VC collective comprising 10 firms across 5 continents. Wavemaker is DVN’s regional partner for Southern California and Southeast Asia.

6. Gobi Partners

Gobi Partners LogoFounded: 2002

Number of investments: 132 (Crunchbase, September 2019)

Example portfolio:

  • Orami (Indonesia)
  • Deliveree (Indonesia)
  • Fastwork (Indonesia)
  • Carsome (Malaysia)
  • Glints (Singapore)

Gobi Partners is a Shanghai-based early to late-stage venture capital firm first founded to tap into the technology, media and telecommunications boom in China. It has expanded to nine branches in China, Japan, Hong Kong, Thailand, the Philippines, Malaysia, Singapore, and Indonesia.

The firm maintains focus in China and Southeast Asia, with a mission statement to help support emerging markets underserved by venture capitals and startup support networks.

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