CIMB, Mitsubishi in $130m first close on SE Asia-focused fund

According to a release, the fund aims to reach $200 million in the next year. LPs include a number of Japanese institutions, notably strategic investor Shinsei Bank as well as Hitachi, Yamato Kogyo and Toho Bank. Development Bank of Japan (DBJ) is participating as part of the GP.

The fund is headquartered in Singapore and jointly managed by CIMB and Mitsubishi.

AIGF intends to deliver growth capital to established companies in the middle market across Southeast Asia, with a primary focus on Indonesia, Malaysia, Singapore and Vietnam. It will target companies that stand to gain from increased development and population growth. Mitsubishi also plans to make AIGF the core platform for its private equity business.

CIMB Group, headquartered in Kuala Lumpur, is the second-largest financial services provider in Malaysia. It is active in Southeast Asia's private equity market, having purchased stakes in a Malaysian private school operator and the owner of the 7-Eleven franchise in Indonesia last year.

DBJ, which is owned by the government of Japan, provides investment and loans in more than 40 countries. It specializes in finding Japanese partners for overseas companies.

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• Topics
• Southeast Asia
• Financials
• Early-stage
• Fundraising
• The Development Bank of Japan (DBJ)
• Venture
• Malaysia
• CAV Private Equity Management / CIMB Private Equity
• Southeast Asia
• Japan