Northstar Group bags US$140 million in capital commitments at fund’s final close

INDONESIA-FOCUSED private equity firm Northstar Group’s early-stage investment fund, Northstar Ventures I (NSV I), has achieved its final close with US$140 million in capital commitments.

Earlier this year, the fund had garnered US$90 million in capital commitments at its first close.

With the final close of the NSV I, the firm now manages more than US$2.6 billion in committed capital, said Northstar Group on Friday (Dec 15).

The firm added that NSV I received “strong backing from a diverse group of global investors” including sovereign wealth funds, institutional investors, family offices and high-net-worth individuals.

The fund’s core focus is on consumer Internet, financial technology and enterprise software. It currently has investments in over 10 early-stage companies in South-east Asia, including Indonesian electric vehicle maker Maka Motors and Gently, a direct-to-consumer personal care brand.

Northstar Group’s chief investment officer Wong Chee-Yann said: “With NSV I, we hope to back future champions and are excited to continue our mission of supporting entrepreneurial founders to build their businesses in South-east Asia and beyond.”

SEE ALSO

Northstar weighs sale of Singapore’s Innovalues in over S$500 million deal: sources

Northstar Group announces first close of early-stage fund at US$90m

THE BUSINESS TIMES INSIGHTS

Powering Asean's Future 2026

Find out how enterprises are navigating power constraints and sustainability targets

ACCESS THE INSIGHTS

Carlson Lau, managing director of Northstar Ventures, said the fund is well-positioned to provide growth channels, financial expertise and industry insights to early-stage investee companies.

“We aim to accelerate the growth of our early-stage portfolio with our broad network and capacity for multi-stage investments.”