Ultra-rich families – the faceless force in startup funding

THERE is a special breed of investors behind some of the biggest rising stars in South-east Asian tech.

At times, they lie behind layers of corporate structures that end in the Cayman Islands. Their websites are sparse — if they even have one at all. When they co-invest in startups, it is often called “shadow capital”.

But despite their low profile, wealthy families and individuals are becoming a force to be reckoned with in South-east Asia’s startup funding scene.