SINGAPORE - Singapore-based venture capital fund TNB Aura said on Wednesday (Dec 12) that its inaugural South-east Asia focused venture capital fund - TNB Aura Fund 1 - is oversubscribed, with fundraising closed off at $31.1 million.

TNB Aura primarily invests in data-driven B2B hardware-as-a-service and software-as-a-service companies.

TNB Aura Fund 1 is backed by institutional investors as well as regional corporations, family offices and several ultra high net worth individuals, the venture capital fund said.

Among the venture capitalist's portfolio companies are TradeGecko - a global inventory and order management platform for small and medium enterprises (SMEs), and Ematic Solutions - a digital cross-channel marketing optimisation platform.

TNB Aura is also a co-investment partner of Enterprise Singapore under the Advanced Manufacturing and Engineering scheme.

Said TNB Aura's co-founder and managing partner Vicknesh R Pillay: "We are truly grateful and excited by the response to our first fund. With the financial acumen of the team and its ability to engineer exits for our portfolio companies, we look forward to investing in the best startups in South-east Asia, growing together with them, and establishing ourselves as one of the top players in the region."