TNB Aura Fund 1 oversubscribed; closes at US$22.6mil
By Digital News Asia December 12, 2018
- TNB Aura is also the co-investment partner of Enterprise Singapore
- Primarily invests in data-driven B2B Hardware-as-a-Service and Software-as-a-Service companies
SINGAPORE-based venture capital fund, TNB Aura announces the final close of its inaugural Southeast Asia Venture Capital fund. The S$31.1 million (US$22.6 million) fund was oversubscribed and is backed by institutional investors as well as regional corporations, family offices and several UHNW individuals.
Riding on strong economic tailwinds, a young and dynamic population where more than 50% are below the age of 30, and over 330 million monthly hyper-engaged internet users (despite only a ~50% internet penetration rate), Southeast Asia’s internet and tech-enabled economy is set to enjoy unprecedented growth. TNB Aura Fund 1 invests at the confluence of these trends.
“We are truly grateful and excited by the response to our first fund. With the financial acumen of the team and ability to engineer exits for our portfolio companies, we look forward to investing in the best startups in Southeast Asia, growing together with them, and establishing ourselves as the one of the top players in the region,” said Vicknesh R Pillay, co-founder and managing partner of TNB Aura.
TNB Aura is also the co-investment partner of Enterprise Singapore under the “Advanced Manufacturing & Engineering” scheme. The fund primarily invests in data-driven B2B Hardware-as-a-Service and Software-as-a-Service companies with established traction, proven teams, and at the inflection point of accelerated expansion.
Some of the current portfolio companies include the leading global inventory and order management platform for small-medium enterprises (SMEs), TradeGecko, digital cross-channel marketing optimisation platform, Ematic Solutions, and an undisclosed investment in an O2O consumer electronics distributor in Vietnam.
“Our hands-on approach is designed to maximise the potential of exceptional companies. We focus on identifying high-calibre teams applying unique technologies via defensible business models, and support their transformation into long-term sustainable businesses. We hope to back approximately 10-15 companies across the region using this high-conviction approach,” said Charles Wong, managing partner of TNB Aura.