Jun 3, 2021

Singapore-based VC firm iGlobe Partners closes latest fund at $100m 03/06/2021 Soo Boon Koh, Founder and Managing Partner of iGlobe Partners . Singapore-headquartered venture capital firm iGlobe Partners has closed its iGlobe Platinum Fund III at $100 million seeking to back growth-stage tech startups in areas such as smart cities, synthetic biology and fintech, according to an announcement. The fund will invest from pre-Series A to Series C over the next three years with a target to have 15–20 companies in its portfolio. Ticket sizes will range from $500,000 to $10 million. “Platinum Fund III has started off with strong momentum. Despite the challenges brought about by COVID-19, our extensive network has allowed us to continue business as usual, with investments in promising companies across Asia, Europe, and the United States. Over the next six months, we will also benefit from two upcoming portfolio exits in the US stock exchange, allowing us to deliver strong early returns to our investors. The pandemic is accelerating the adoption of technology across multiple industries, and this is a strong validation of our fund thesis to invest in game changers globally,” said Soo Boon Koh, Founder and Managing Partner of iGlobe Partners. Koh, who has called herself an ‘accidental capitalist’, founded iGlobe while she was still in San Francisco. She was in Silicon Valley, working for Singapore Technologies. The first fund launched in 2000, backed by Singapore’s Economic Development Board, shortly before the dot-com bust. Initially set for final close in November 2021, the $100 million iGlobe Platinum Fund III closed oversubscribed and ahead of plan at the end of May this year. The fund has invested in various tech companies including Matterport, C2i Genomics, NerdWallet (US), Streetbees (UK), Docquity (Singapore), and Tonik (the Philippines). According to Yoke Sin Chong, iGlobe Partners Managing Partner in Singapore, the VC firm’s bets on synthetic biology are based on the confluence of deep tech, biology, and chemistry, creating new sustainable materials, foods, and therapeutics that leverage on the discoveries and inventions in this field. For fintech, the firm is looking at innovative business models that will provide access to banking, payments, retail, insurance, and financial services in novel ways, across huge populations of users. Since the firm’s founding in 1999, iGlobe has managed funds exceeding US$500 million for its investors. iGlobe Platinum Fund I has delivered 13 times capital return with a net IRR of 33%, making it one of the top 5% of VC funds inaugurated in 2010 globally. Successful and upcoming exits include Unity Software (NYSE:U), Twist Bioscience (NASDAQ: TWST), ACSL (TYO: 6232), Matterport, Hippo Enterprises, Gingko Bioworks, and Nerdwallet.