Singapore's Insignia closes first fund at $25m
Insignia Ventures Partners, a Singapore-based VC firm founded by former Sequoia Capital India venture partner Yinglan Tan, has raised $25 million for its debut fund.
Tan departed Sequoia in June after five years with the firm, and launched Insignia in August, according to his LinkedIn profile. According to a regulatory filing, Lin Hong Wong, a former managing director at Temasek Capital and current managing director at consultancy firm Wingz Capital, is a director at Insignia.
Before joining Sequoia India, where he was involved with the firm's investments in Southeast Asia including e-commerce company Tokopedia, Tan served as an administrative officer at Singapore's National Research Foundation (NRF) and an adjunct professor at Nanyang Technological University.
During his time at NRF, Tan oversaw the National Framework for Innovation and Enterprise and was responsible for investing in high-tech growth ventures and venture capital funds in Asia. He was also the founding director of 3i Venturelab China, a joint venture between private equity firm 3i and graduate business school INSEAD.
According to media reports, Insignia has already made its first investment, leading a $4 million round for Indonesian co-working space provider Ev Hive.
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