Singapore's Resolution hits first close on fintech VC fund

LPs include an international mix of fintech-interested institutions, family offices, finance executives, and entrepreneurs.

Resolution is led by Sam Gibb (pictured), previously of Endeavour Ventures and Symphony Financial Partners. The team also includes partners Veiverne Yuen and Wouter Kneepkens, both investment committee members at Blauwpark Partners, a Singapore family office that manages its own fintech-dedicated fund.

Gibb noted that an announcement from Y Combinator earlier this year indicating its standard deal structure would include an uncapped most favoured nation provision had put significant pressure on valuations in the early-stage space. In some cases, this can mean that companies recently valued at USD 10m are now raising funds at valuations of USD 20m with similar or less market traction.

“We're likely at a turning point in the market and there has been a relatively large gap between valuation expectations and fundamentals that has been emerging over the last 12-24 months,” Gibb told AVCJ.

“We've remained relatively disciplined so there were a number of conversations that were shut down relatively quickly at the end of last year because of the expectation gap.”

The fund has made four investments to date. They include Singaporean supply chain and inventory management technology provider Stemly, Malaysian e-invoicing and ordering platform Dropee, Vietnamese wage access platform Gimo, and Oraan, a Pakistani start-up focused on women’s economic inclusion.

"Traditional and later-stage investors are generally perceived as high ego and low value-add. The opposite is true in early-stage venture investing," Resolute said in a statement. "We don’t want to be gate keeping toll takers, we want to work with companies at the beginning of their journey to help them succeed."

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• Topics
• Southeast Asia
• Financials
• Technology
• Fundraising
• Singapore
• Fintech
• Financial Services