Wavemaker Partners, a Los Angeles, CA-based and Singapore-based early-stage venture capital firm, closed its second Southeast Asia-focused fund, at $66m.
Backers included IFC, a member of the World Bank Group, Temasek, AddVentures, and other companies and families from all around the region.
Led by Paul Santos, Managing Partner, Wavemaker Partners Southeast Asia has made more than 80% of its investments made in seed stage business-to-business (B2B) and deep technology companies led by founders with deep domain expertise.
Within this new fund’s portfolio, follow-on investment rounds have already been raised by several companies. These include:
– Coins.ph, a blockchain-based financial services platform;
– Wavecell, a cloud communications platform; and
– Zilingo, a mobile fashion marketplace which provides tools for sellers.
Three more are expected to close their Series B rounds before the end of the year. Others have already achieved more than $3M in annualized revenues. These include:
– Smove, a free-floating car sharing platform;
– Ematic, a provider of intelligent marketing solutions; and
– Lynk, an expert-driven knowledge sharing platform.
Wavemaker has also invested in:
– Structo, which provides 3D printing solutions for the dental industry;
– Lemnis, which helps address the nausea experienced with current virtual reality (VR) technology; and
– Silent8, which uses artificial intelligence (AI) to combat money laundering
Founded in 2003 in Los Angeles by Eric Manlunas, David Siemer and Paul Santos and expanded to Singapore in 2012, Wavemaker is an early stage cross border venture capital firm with over $185M of Assets under Management.
Portfolio companies also include MindBody (NASDAQ: MB), DigitalGlobe (NYSE: DGI), StyleHaul (acquired by RTL Group), Luxola (acquired by LVMH), Pie (acquired by Google) and ArtofClick (acquired by Xurpas).