A group of regional venture capital vets have set up a new firm to look for early-stage investment opportunities in Southeast Asia.
The Altara Ventures team / Photo credit: Altara Ventures
The newly unveiled Altara Ventures represents one of the largest homegrown VC partnerships in the region. The team is composed of Tan Chow Boon, Credence Investment managing partner; Seow Kiat Wang, Credence Partners partner; Gavin Teo, former general partner at B Capital; and Dave Ng, Southeast Asia head at Eight Roads.
Rounding out the group is seasoned corporate leader Koh Boon Hwee, who currently sits on the board of sovereign wealth fund GIC and serves as the founding partner of Credence and chairman of its investment committee. He has also served on the boards of Singapore Airlines, DBS Bank, and Temasek, among others.
The five general partners’ past investments include Alteon Networks, Carro, Ninja Van, Razer, StashAway, and Twitch, among others.
Altara Ventures will focus on investing in fintech, consumer, enterprise software, logistics, healthcare, and education technology, according to a statement. It aims to lead venture financing for high-growth tech startups and help connect founders into the partnership’s global networks.
The new VC company has made three investments to date: digital bank Tonik and mobile-first consumer credit platform Stashfin as well as Senseye, a firm that specializes in deep tech, AI, and data science.
Altara Ventures said it has more investments in the pipeline, counting on the support of its anchor limited partners including “a leading financial services institution, a publicly listed technology corporation, and a prominent family office.”
Editing by Eileen C. Ang
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