Insignia Ventures closes second fund at $274.1m

SINGAPORE - Singapore-based Insignia Ventures Partners has hit an oversubscribed final close for its second fund at US$200 million ($274.1 million). Limited partners include premier institutional investors such as sovereign wealth funds, university endowments, foundations and renowned family offices from Asia, Europe and North America, said Insignia.

"With Insignia Ventures Fund II, we are doubling down on early-stage technology in South-east Asia. Insignia's call to adventure from day one has been to nurture the growth of early stage companies in South-east Asia. We do not see this change moving forward, especially as there is more smart capital and top talent flowing into the region that spur the formation of great companies," said Tan Yinglan, founding managing partner of Insignia.

The group closed its first fund last year at US$120 million, marking the largest maiden vehicle by a South-east Asian venture capital firm at the time.

Insignia recently won the Singapore Venture Capital & Private Equity Association's "VC Deal of the Year" for its investment into Indonesian fintech firm Payfazz. It bagged the award for two years running, following its win with automotive marketplace Carro in 2018.

Other portfolio companies include logistics startup Janio, fund-transfer platform Flip, and smart home solutions firm Igloohome.