Angels to pocket over 20 times returns from sale of Singapore’s Hepmil

HEPMIL Media Group’s acquisition by French advertising agency Publicis Groupe – a rare exit in an otherwise tepid year for South-east Asian startups – was a win for its founders and early backers.

Jeffrey Seah, among Hepmil’s earliest investors and the general partner of MSW Ventures, tells Tech in Asia that the first angel investors who backed Hepmil Group via the special purpose vehicle Oobmil in 2017 are projected to make returns “in excess of 20x.”

Seah, who has also led investments in Hepmil via two other funds – MSW Ventures’ Asia Fund X and Quest Ventures’ Asia Fund II – has sat on Hepmil’s board of directors as vice-chairman since 2017.