Jenina Ibañez · · 1 min readSquare Peg to raise $550m for more investments in SEA
Australian VC firm Square Peg is set to raise US$550 million to back tech startups across Southeast Asia while it further invests in Australia and Israel, Reuters reported.
The company is looking into investment options “across most markets” in Southeast Asia, Tushar Roy, a Square Peg partner based in Singapore, told Reuters. More funds being injected into the region can help take startups from early stage to mid stage and growth stage, he added.
The global firm founded in 2012 invests in tech companies from its offices in Australia, Singapore, and Israel. Square Peg is one of Australia’s largest VC firms with assets under management of more than US$1 billion.
The new funding set to be raised within the first half of this year will be split between early-stage investments and later-stage follow-on funds for companies in Square Peg’s portfolio.
Its portfolio of about 52 companies includes Australian online design company Canva and Neuron Mobility, a shared electric scooter service founded in Singapore.
See also: Meet the 50 top-funded startups and tech companies in Southeast Asia
Editing by Miguel Cordon and Arpit Nayak
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