Private equity firm Caldera Pacific nets $250m debut fund for Southeast Asia

Private equity firm Caldera Pacific has raised US$250 million for its debut fund, DealStreetAsia reported, citing a source.

Tech in Asia has reached out to Caldera Pacific for comment.

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The Caldera Pacific Fund I was initially targeted at US$200 million in 2018, but it was later raised to US$350 million, said the report.

Following the fund’s first close, it is expected to make its first investment in March this year, said the source, adding that the company plans to allocate around half of its Southeast Asia fund to Vietnam. The company will also reportedly invest in markets like Malaysia, Singapore, and the Philippines.

French investment group Argenthal, which mainly engages in real estate assets, is the firm’s anchor investor, revealed the source.

Caldera Pacific focuses on investing in small and medium-sized companies that target consumers and the emerging middle class across Southeast Asia. It currently has offices in Hong Kong, Singapore, South Korea, and Vietnam.

It’s already led a number of investments in Vietnam. In 2017, it led a US$1 million pre-series A funding round in local ecommerce startup Leflair. In partnership with financial investment firm Samsung Securities, it also acquired a 40% stake in Vietnam asset management company Dragon Capital – the stake was reportedly worth about US$23.7 million.