The Singapore-based venture capital said it plans to raise US$200 million blind fund in 2020

Singapore’s Golden Equator Capital (GEC) has announced that it has raised two private capital funds totalling US$90 million, aimed for the growth capital of a public-listed company in the region.

The funds were backed by institutional and accredited investors in Singapore, Japan, and Korea.

The private capital funds will cover private debt and mezzanine financing to provide growth capital for acquisitions and business expansion purposes, for companies and projects in Southeast Asia.

GEC said that the private capital funds, led by its Managing Partner Jacob Jiwon Kim, primarily focus on the infrastructure, energy, and financial sector. In the past, Kim has worked for various government and financial institutions in the region as a corporate strategy and acquisition specialist with a background in managing multiple hedge funds and a private equity fund covering Asian markets.

“Asia has historically been a market financed by Western banks, but with these lenders scaling back in Asia in the last decade, the gap in the much-needed growth-financing for Asia’s emerging economies has been growing,” said Kim.

“At the same time, there is a lot of capital in developed Asian markets such as Japan and Korea that’s looking for investments with stronger returns than their domestic markets. I believe our regional network and market expertise are well poised to curate investment opportunities in Southeast Asia for investors from developed Asian markets,” he added.

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Next, GEC said it targets to raise a blind fund in the range of US$200 million next year while the fund manager continues to work on additional projects and may potentially launch a few more project funds.

With a growing preference for Asia-focused private debt funds, more than 900 institutions are increasing their exposure to private debt strategies, looking to diversify their private debt portfolios while finding less competed opportunities. According to Preqin, 30 per cent of investors believe that Asia presents the best of opportunities for investing in private debt.

GEC is a Singapore-based fund management company holding a Capital Markets Services (CMS) licence, a business under Golden Equator Group. GEC currently has five funds: two private capital funds and a prime currency income fund, besides its two venture funds.
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