Dec 20, 2016

Gomif Partners targets a $200Mn fundraise for its new ‘Socialpreneur Growth Fund’ 40 mins ago Kajal Joshi Singapore-based Gomif Partners (GP) is an early stage investment advisory network joint headed by socialpreneur Larry Tey Por Yee and several private venture partners. GP is mainly interested in information technology firms operating at any stage but prefers seed and early stage investments. Socialpreneurship is a novel yet swiftly growing business concept in global economy, led by an innovation-driven ecosystem, and a large customer base. Fintech is the latest focus, on top of big data analytics and robotics, among the hot segments. In a bid to expand the domains GP focuses on, the network is launching Socialpreneur Growth Fund targeting a $200 million fundraise. It will invest in social business concept startups and growth stage financing for innovation and technology-related companies in Europe, as well as within the Asia-Pacific region. The fund-raising and road show had landed with Memorandum of Understanding (MoU) and Letter of Intent (LoI) with business advisory firms in London and Singapore, and currently in New York. Larry has assembled a cohort of like-minded investors, from venture capitalist, former hedge fund managers, enterprise owners and a handful of others to join him in the fund. Gomif Partners earlier had stated it plans to fuel capital into social responsible business concepts that have the potential to deliver cheap and promote sustainable eco-system to the world. Earlier this month, Gomif Partners announced the soft-launch of its Accelerator’17 program in Singapore and Japan. Startups can apply to be part of the program beginning in the early part of January 2017. Gomif and its advisors will mentor the winning companies and help them improvise their business plans and products. Additionally, Gomif will pick up equity stake in these companies. The program will provide startups with the unique opportunity to work together with Gomif Partners and associates and influential players in each of their business segments. GP will also provide mentorship, office space and access to funding and a network of industry partners, investors and venture capital firms for up to 5 selected global social business startups.