Oatside’s early investor sells partial stake to Far East Organization’s family office Far East Capital

FAR East Capital has bought preference shares in Singapore-based Oatside, a major manufacturer of oat milk, via a secondary sale in late November.

The investment firm – the family office of Far East Organization, one of the city-state’s largest real estate developers – bought the shares from Mugi Capital, a holding company that has backed Oatside since 2021.

Assuming a share price of US$240 at a valuation of US$705 million – per DealStreetAsia’s calculation in August 2025 – Far East Capital’s stake could be worth US$4.57 million.

Mugi Capital has also transferred its stake to existing Oatside shareholders, divesting over half its shares in the firm.

Assuming a US$240 share price, the offloaded shares could be worth US$35.3 million, a multiple of four times on the issued price.

Mugi Capital was owned by Angeline Ooi, an agriculture and food industry executive who sits on Oatside’s board. While Ooi is no longer a shareholder and director in Mugi Capital, she continues to own a stake in Oatside.

Tech in Asia sought comment from Oatside about the transactions, but it declined to provide details about the transaction.

The oat-milk maker, which has raised over US$104 million since inception, was on a tear in 2024. It has doubled its revenue from the year before while keeping its losses contained.

However, Oatside remains an upstart in the industry, with competitor Oatly logging US$824 million in revenue in 2024. TECHINASIA