Singapore-based private equity firm Growtheum Capital Partners has closed its debut fund at $567 million.
The fund, which was originally targeting $600-800 million, is focused on minority investments in Southeast Asia targeting consumer, healthcare, financial services, education, technology, and related sectors with a focus on omnichannel business models in Indonesia, Vietnam, Thailand, Malaysia, and the Philippines.
Growtheum was founded by former GIC executive Amit Kunal in 2021.
Kunal has over 20 years of experience in the private equity industry, and he has worked on investments in companies such as Sea Limited, Grab, and GoTo.
The Growtheum fund has already made a number of investments, including:
- Mitra Plumbon Healthcare Group, an Indonesian multi-specialties hospital group
- Aqila, a Malaysian digital health company
- Nium, a Singapore-based cross-border payments company
- KFIT, a Thai fitness and wellness platform
- Shipper, a Philippines-based logistics company
Growtheum is targeting companies with a strong management team, a clear growth runway, and a focus on innovation.
The firm is also looking for companies that are well-positioned to benefit from the growth of the Southeast Asian economy.
The closing of Growtheum’s debut fund is a sign of the strong interest in Southeast Asia from private equity firms.
The region is home to a growing middle class and a young population, which is making it an attractive market for investment.
Growtheum is well-positioned to capitalize on this growth, and it is likely to make many more investments in Southeast Asia in the years to come.
