Catcha launches VC unit for Southeast Asia TMT deals

Catcha Ventures has a remit to commit $50-100 million to selected companies over the next three to five years. The captive unit will focus on growth-stage companies that are looking improve management and technology systems in order to scale up and expand across the region.

Catcha believes these businesses often go overlooked, despite the growing number of start-ups in Southeast Asia that receive backing from VC and angel investors.

"Over the last 15 years we have created a number of highly successful digital companies in the ASEAN region. We are excited to bring our experience and knowledge to bear in working with the next generation of disruptive entrepreneurs to help them create amazing digital businesses," said Patrick Grove, CEO of Catcha, in a statement.

Each investee company will be paired with a senior mentor and advisor from within Catcha.

Founded in 1999 as Catcha.com, the company aspired to become Southeast Asia's largest search engine. The dotcom bubble bursting in 2000 sunk plans for an IPO in Singapore and Catcha diversified its business in order to survive, acquiring a bankrupt magazine title. The company established itself as a publisher and began to make internet investments in 2006.

Catcha's portfolio of online assets is now worth over $1 billion, comprising four publicly listed entities and 50 private investments.

The listed businesses are iProperty Group, Asia's leading network of property websites, Malaysian online publishing company Rev Asia, automobile classifieds network iCar Asia, and e-commerce network iBuy Group. News Corporation recently paid $100 million for a 17% stake in iProperty.

According to AVCJ Research, Catcha received funding in 1999 from VC firm Alternative Investment Management Group, Hong Kong-based Arboc Investments and two Australian companies, Axiom Fund Management and Imperial Technologies. They were subsequently joined by OWW Capital Partners and Creative Technologies.

Catcha says its current investors include Intel Capital, REA Group, Carsales.com and Malaysia's Star Media Group, as well as assorted VC and PE firms.

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Save this article  
• Send to  

• Topics
• Technology
• Consumer
• Southeast Asia
• Venture
• Venture
• Southeast Asia
• TMT
• Consumer