SINGAPORE-BASED venture capital firm Vickers Venture Partners on Thursday announced it has raised S$86 million in the first close of its fifth Vickers Venture Fund, all from existing investors.
Vickers said that with a target fund size of S$340 million and a cap of S$540 million, the fund is set to be the largest fund raised by a Singapore-based venture capital firm.
Investors which are currently reviewing the fund include global banks, funds of funds, sovereign wealth funds, family offices and endowments, Vickers added.
Finian Tan, chairman of Vickers Venture Partners, noted that the firm will start investing from the fund even as it completes its fund-raising process over the next 12 months.
Vickers was founded in 2005 by Dr Tan and four partners - Khalil Binebine, Jeffrey Chi, Damian Tan and Linda Li. Vickers has since invested some US$149 million across four funds in over 36 companies in life sciences, tech, media, and telecommunications, as well as consumer and financial services.
In Singapore, Vickers has invested in Cambridge Industrial Trust, the Asian Food Channel, TWG tea, and more recently, MatchMove Pay, an e-payment startup with operations in India and South-east Asia.
Amendment note: An earlier version of the article mentioned that Vickers invested in Cambridge Industrial. It is in fact Cambridge Industrial Trust, and the article above has been revised to reflect this.