Vickers Venture Partners, one of the leading global VC firms, secured S$86 million for first close of Vickers Venture Fund V L.P. The transaction saw the participation of its existing investors, the firm said in an announcement today. This is the fifth fund raised by Vickers and is set to be the largest fund to be raised by a Singapore-based VC firm.
The investors currently reviewing the fund include global banks, funds of funds, sovereign wealth funds, family offices and endowments. The target fund size amounts to S$340million with a cap of $540million.
Vickers is the only Singaporean firm in the Preqin list of consistent top performing venture capital fund managers and currently ranks 11th in the world. Their latest fund is recognized as the best performing VC fund in the world for its vintage 2012 and of all vintages since 2008.
Dr Finian Tan, Chairman, Vickers Venture Partners commenting on the the deal said,
We are pleased with the first closing and are very happy that so many of our existing investors have decided to re-invest with us. We now begin investing from this even as we complete our fund raising process in the next 12 months.
The VC firm was founded in 2005 by Dr Finian Tan and his four partners – Khalil Binebine, Jeffrey Chi, Damian Tan and Linda Li. It has invested US$149 million across four funds with a current gross value of US$748million. Its portfolio covers life sciences, technology, media, and telecommunications as well as consumer and financial services.
Vickers Venture Partners currently has over 36 companies in its portfolio including 9 home-run companies valued between 5 times to 90 times the prices when Vickers first invested. The VC firm has its offices in Shanghai, Hong Kong, Singapore and San Diego. It has invested in Cambridge Industrial, the Asian Food Channel, TWG tea and their latest portfolio, Matchmove pay, an epayment company with millions of subscribers in India and Southeast Asia.