Wavemaker Partners is probably the most active early-stage VC fund in Southeast Asia. Originally founded in 2003 by Eric Manlunas, the VC firm expanded operations into Southeast Asia in 2012. Paul Santos, a serial entrepreneur who has built half a dozen startups in the past, is heading the regional operations for the VC from its Singapore office.
Wavemaker, which primarily invests in B2B and deep-tech startups, has just announced the first close of its third fund at US$60 million from several prominent names, such Pavilion Capital, the International Finance Corporation (IFC), Temasek, family offices of the Co-founders of Microsoft (Vulcan) and Facebook (EE Capital). Wavemaker is in talks with more investors to close the fund at US$100 million.
In this interview, Santos shares more details about the fund and the Southeast Asian market.
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