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Corporate Venture
uobvm.com.sg

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Investments

76

Portfolio Exits

12

Funds

15

About UOB Venture Management

UOB Venture Management (UOBVM) is a wholly-owned subsidiary of United Overseas Bank (UOB) Limited, one of Asia's leading international banking and financial groups. Operational since 1992, UOBVM has provided financing to more than 100 privately held companies through direct equity investment, mainly in Southeast Asia and Greater China.

UOB Venture Management Headquarters Location

80 Raffles Place #30-20, UOB Plaza 2

048624,

Singapore

+(65) 6539 3044

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Latest UOB Venture Management News

RPG Commerce bags US$28.3mil Series B funding

Jun 28, 2022

By Digital News Asia June 28, 2022 East Ventures, UOB Venture Management led this round Funds used to future proof its technology, expand brand portfolio RPG Commerce has secured US$28.3 million (RM127 million) in a Series B funding in a round led by East Ventures, UOB Venture Management, Vertex Ventures SEA & India (VVSEAI), and RHL Ventures. VVSEAI, who previously led RPG Commerce’s Series A funding, has continued to invest in this current round. In a statement, the direct-to-consumer (DTC) e-commerce startup said the funds raised will be channeled into future-proofing the company’s technology and development processes and to develop and expand RPG’s brand-portfolio to create revolutionary consumer products. Presently, RPG hosts a suite of more than 10 in-house international brands, including apparel and homeware brands Thousand Miles, Bottoms Lab, Montigo, Cosmic Cookware and more. The startup said its multi-brand business model launches, operates, and optimises a globally successful suite of DTC brands by owning the development, production, and delivery processes end-to-end. The startup claimed that its business has resulted in a rapid brand portfolio expansion and customer base growth of 300% over the past year. Melvin Chee, co-founder and CEO of RPG Commerce said the company’s mission is to provide value that exceeds the expectations of its customers. “We are proud to have delivered customer-centric products and services by creating high-quality essential items through our DTC model that are accessible at their fingertips and delivered straight to their doorstep. “With this round of funding, we aim to rapidly expand our talent pool across the entire organisation and enhance our technological capabilities in addition to expanding our suite of brands to further disrupt the consumer landscape,” said Melvin. Willson Cuaca, co-founder and managing partner of East Ventures said RPG takes a multi-category, multi-brand approach, while retaining the roll up model as an option, making them a unique and successful player in the e-commerce landscape. “It is critical for DTC businesses to build traction internationally to ensure success, and RPG stands out as a company that has been able to grow a loyal customer base across the US, Canada, and Europe by building consumer trust through quality products and supply chain innovation. “We are excited to support RPG on the next leg of their growth and are looking forward to watching the brand expand their portfolio and grow in new markets across Southeast Asia,” Willson said.

UOB Venture Management Investments

76 Investments

UOB Venture Management has made 76 investments. Their latest investment was in Ricult as part of their Series A on July 7, 2022.

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UOB Venture Management Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

7/11/2022

Series A

Ricult

Yes

1

6/22/2022

Series B

RPG Commerce

$29M

Yes

6

2/10/2022

Series A

Kyro

$10M

Yes

6

1/2/2022

Seed VC

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$99M

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10

12/17/2021

Series A

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$99M

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10

Date

7/11/2022

6/22/2022

2/10/2022

1/2/2022

12/17/2021

Round

Series A

Series B

Series A

Seed VC

Series A

Company

Ricult

RPG Commerce

Kyro

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Amount

$29M

$10M

$99M

$99M

New?

Yes

Yes

Yes

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Co-Investors

Sources

1

6

6

10

10

UOB Venture Management Portfolio Exits

12 Portfolio Exits

UOB Venture Management has 12 portfolio exits. Their latest portfolio exit was Appier on March 30, 2021.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

3/30/2021

IPO

$99M

Public

3

7/19/2016

IPO

$99M

Public

4/4/2012

Acquired

$99M

8/6/2009

Acquired

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$99M

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10

11/12/2007

Acquired

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$99M

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0

Date

3/30/2021

7/19/2016

4/4/2012

8/6/2009

11/12/2007

Exit

IPO

IPO

Acquired

Acquired

Acquired

Companies

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Valuation

$99M

$99M

$99M

$99M

$99M

Acquirer

Public

Public

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Sources

3

10

0

UOB Venture Management Fund History

15 Fund Histories

UOB Venture Management has 15 funds, including AIIF II.

Closing Date

Fund

Fund Type

Status

Amount

Sources

12/11/2020

AIIF II

$60M

1

6/11/2019

ASEAN China Investment Fund

Diversified Private Equity

Closed

$300M

2

6/6/2019

Asean China Investment Fund (US) IV LP

Diversified Private Equity

Open

$37M

1

10/21/2017

UOB Asia Impact Investment Fund

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$99M

10

12/31/2015

Asean China Investment Fund (US) III LP

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$99M

10

Closing Date

12/11/2020

6/11/2019

6/6/2019

10/21/2017

12/31/2015

Fund

AIIF II

ASEAN China Investment Fund

Asean China Investment Fund (US) IV LP

UOB Asia Impact Investment Fund

Asean China Investment Fund (US) III LP

Fund Type

Diversified Private Equity

Diversified Private Equity

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Status

Closed

Open

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Amount

$60M

$300M

$37M

$99M

$99M

Sources

1

2

1

10

10

UOB Venture Management Team

3 Team Members

UOB Venture Management has 3 team members, including current Managing Director, Kian Wee Seah.

Name

Work History

Title

Status

Kian Wee Seah

Managing Director

Current

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Name

Kian Wee Seah

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Work History

Title

Managing Director

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Status

Current

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