Singapore early-stage venture capital firm Quest Ventures, which has backed the likes of Carousell, Carro, ShopBack, and more, announced today the setting up of a new fund for seed to series A startups in Southeast Asia. The fund aims to raise up to US$50 million and will invest in “digital commerce” startups.
Partners of Quest Ventures (L to R): James Tan, Goh Yiping, and Jeffrey Seah
Appointed to head the new fund as partners are Goh Yiping and Jeffrey Seah, who were previously venture partners (meaning they were not full-time or permanent members) at the firm.
Goh is an experienced ecommerce founder and executive. She started deals aggregator All Deals Asia, then spent three years in Jakarta heading up MatahariMall.com, an ecommerce venture backed by conglomerate Lippo Group.
“Female representation at investment funds is still sorely lacking. Yiping is among a handful of female partners in this region and the first with operating experience,” says Quest Ventures managing partner James Tan.
Meanwhile, Seah is a senior advertising and marketing executive who was the CEO of global media agency Mindshare in the Singapore, Indonesia, and Malaysia markets.
Editing by Charmaine de Lazo
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