Singapore's Gordian Capital spins out Qualgro VC fund

The new GP, known as Qualgro, will make Series A and B investments across Southeast Asia and Australasia. Focus areas include data analytics and security, artificial intelligence (AI), software-as-a-service, financial technology, education and, healthcare. Heang Chhor and will lead the firm as managing partner.

It is the first private equity spin-out from the Gordian platform, which helps fund managers launch vehicles by facilitating licensing procedures with the Monetary Authority of Singapore. AVCJ understands that Gordian expects to spin out another fund in the near term.

“It’s definitely an indicator of the interest amongst people in the market to launch funds. We have a thriving fintech and VC environment here,” said Mark Voumard, founder and CEO at Gordian. “But when you’re launching a fund, the regulations can take time and be quite expensive, so we offer a quick and cost-effective solution to that.”

Qualgro was active as it formalized the spin-out. Earlier this month, it led an $8.2 million round for local cloud communications company Wavecell. The fund had previously backed Singaporean enterprise software provider Patsnap and Australian cybersecurity player Data Republic. In December, it contributed to a $19.5 million Series B round for Taiwanese AI developer Appier.

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• Topics
• Southeast Asia
• Technology
• GPs
• Venture
• Singapore
• Venture
• Financial Services
• Education
• healthcare