Vickers Venture Partners raises $63m

The vehicle has increased its expected total corpus to S$340 million, with a cap of S$540 million. It was launched last year with a target of $150-$200 million. Investors are understood to include international banks, fund-of-funds, sovereign wealth funds, family offices and endowments.

"We are pleased with the first closing and are very happy that so many of our existing investors have decided to re-invest with us," Finian Tan, Vickers' chairman, said according to e27. "We now begin investing from this even as we complete our fund raising process in the next 12 months."

Half of the total capital raised is expected to be set aside for follow-on Series A and B investments in Vickers' existing portfolio, while 20% will be for new investments. The fund will focus on sectors including consumer products and services, IT, leisure and entertainment as well as media and telecommunications.

Founded in 2005, Vickers operates via offices in Singapore, Shanghai and Hong Kong. A US office is expected to be opened in 2018. The firm typically makes investments of $1-10 million and has been active across Southeast Asia. According to AVCJ Research, it closed its fourth fund in 2012 at $80 million, missing a targeted raise of $150 million.

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• Topics
• Southeast Asia
• Technology
• Consumer
• Fundraising
• Growth
• Singapore
• Vickers Venture Partners
• Growth capital
• Venture