Openspace Ventures hires ex-Providence director

She will become an investment committee member of OSV+, the VC firm’s recently launched growth stage fund. The vehicle – which is expected to rely on capital from existing LPs – recently made its first investment in health analytics player Biofourmis, participating in a $100 million Series C round alongside SoftBank Vision Fund, MassMutual Ventures, Sequoia Capital India, and EDBI.

Pouleur spent a decade at Providence, departing in 2017 as the PE firm began to scale back its operations in the region. The last investment she oversaw, Indonesian telecom tower platform Komet Infra Nusantara, was exited in early 2018. Pouleur remained in Singapore as head of strategy and business development for Disney in Asia Pacific. Activities included participation in the company’s $71 billion acquisition of 21^st Century Fox.

“Southeast Asia is evolving rapidly as a market and my experience at Disney and Providence has given me great perspective on the exciting opportunity set. Good investment opportunities start with clear understanding of diverse regional consumer dynamics supported by relevant product development and leading technology,” Pouleur said in a statement.

Openspace has also recruited Aristo Setiawidjaja as a senior advisor covering Indonesia. He is currently a managing director a Hermina Hospitals – a private equity-backed local hospital chain – and previously served as a director at Olympus Capital.

The GP reached a first close of more than $90 million on its third Southeast Asia fund – which has an overall target of $200 million – in July. The predecessor vehicle closed at $135 million in 2018.

Openspace targets Series A and B rounds for companies with B2C and B2B technologies seeking to access local, regional and global markets. The firm claims to differentiate itself by prioritizing start-ups and categories that have not attracted substantial VC investment and then offering substantial in-house operational support, including data-driven market analysis.

OSV+ focuses on mid-stage technology investments, primarily in existing portfolio companies. Biofourmis fits this profile. Openspace led the Series A in 2017 and re-upped in the $35 million Series B last year.

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• Topics
• Southeast Asia
• People
• Venture
• Singapore
• Openspace Ventures
• Appointments
• Providence Equity Partners