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Wavemaker: A Leading Venture Capital Firm in Singapore

Wavemaker Partners is an early-stage venture capital firm with a strong presence in Southeast Asia.

Founded in 2003, the firm has dual headquarters in Los Angeles and Singapore and has raised over $600M across multiple funds.

Wavemaker Partners is dedicated to investing in entrepreneurs with unique solutions to unaddressed problems that will change the industry for the better.

Their focus areas include Enterprise, Deep Tech, and Sustainability.

As a cross-border venture capital firm, Wavemaker Partners has established itself as a leading investor in the Southeast Asian technology industry.

Their investment portfolio includes some of the most successful startups in the region, such as Carousell, ShopBack, and Zilingo.

The firm’s team of more than 80 people is made up of experienced professionals with diverse backgrounds in finance, technology, and entrepreneurship.

With a reputation as one of the most active early-stage investors in Southeast Asia, Wavemaker Partners has played a significant role in shaping the region’s startup ecosystem.

Their investments have helped to create jobs, drive innovation, and promote economic growth.

As the firm continues to expand its portfolio and support the next generation of entrepreneurs, it is poised to remain a key player in the Southeast Asian venture capital landscape.

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Company Overview

Wavemaker Partners is a cross-border venture capital firm founded in 2003. The firm is based in Singapore, with dual headquarters in Los Angeles and Singapore. Wavemaker Partners is one of the most active early-stage investors in the region, with a focus on investing in deep tech startups, enterprise, digital media, and consumer sectors. The firm has raised over $580M across multiple funds and has made over 530 investments.

Key People

Wavemaker Partners is led by a team of experienced venture capitalists, including Paul Santos (Managing Partner), Eric Manlunas (General Partner, Managing Partner), Sui Ling Cheah (Operating Partner), Gavin Lee (General Partner), and Andy Hwang (General Partner). The team is supported by a group of principals, associates, and analysts.

Wavemaker Group and Subsidiaries

Wavemaker Partners is part of the Wavemaker Group, a multi-faceted cross-border venture capital firm. The Wavemaker Group includes Wavemaker Three-Sixty Health, Wavemaker Impact, and other subsidiaries. Wavemaker Impact is a social impact fund that invests in companies that promote sustainability, energy, and social impact.

Geographical Presence

Wavemaker Partners has a strong presence in the Southeast Asian region, with offices in Singapore, the Philippines, Thailand, and Malaysia. The firm has also invested in companies across the region, including Indonesia, Vietnam, and Cambodia. In addition, Wavemaker Partners has a presence in Southern California, where it invests in early-stage technology startups.

Overall, Wavemaker Partners is a well-respected venture capital firm with a strong track record of investing in early-stage companies. The firm’s focus on deep tech startups and its presence in the Southeast Asian region make it a valuable partner for entrepreneurs looking to grow their businesses.

Investment Strategy and Portfolio

Wavemaker Partners is a venture capital firm that focuses on early-stage investments in companies operating in the enterprise, digital media, deep technology, and consumer sectors. The firm has a reputation for being one of the most active early-stage investors across multiple funds, having raised over US$700 million across several funds.

Notable Investments

Wavemaker Partners has made several notable investments in Southeast Asia, including TradeGecko, Moka, Gojek, Lhoopa, Efishery, and Silent Eight. The firm has also invested in several first-of-its-kind companies, such as Pie, a platform that allows people to buy and sell shares in residential properties, and Luxola, an online beauty retailer.

Investment Focus

Wavemaker Partners invests in companies that have the potential for high growth and adoption. The firm provides support to its portfolio companies through its team of experienced entrepreneurs, advisors, and tech investors. Wavemaker Partners has a focus on deep technology and environmental and climate tech, including companies that are working on solutions for climate change, agriculture, and financial services.

The firm’s investment strategy is to identify companies that have the potential to be acquired or go public. Wavemaker Partners has had 10 exits to date, including Mindbody, PropertyGuru, and Luxola. The firm has also had several acquisitions, such as its acquisition of SGInnovate’s deep tech investment team and its acquisition of Counsel, a US-based legal tech company.

Overall, Wavemaker Partners has a strong track record of investing in companies that have the potential for high growth and adoption. The firm’s focus on deep technology and environmental and climate tech aligns with the UNDP Sustainable Development Goal of promoting sustainable economic growth.

Impact and Future Outlook

Wavemaker Partners has made a significant impact on the Southeast Asian startup ecosystem. With a focus on sustainability and deep tech, the firm has been able to identify and support innovative solutions to some of the region’s most pressing problems.

Through its Wavemaker Impact program, the firm has launched a first-of-its-kind climate tech venture builder in Southeast Asia, targeting to raise US$25 million for its first fund. Climate change is an existential threat for the region, with three of its largest cities facing the threat of being underwater by 2050. By co-founding sustainability-focused businesses in Southeast Asia with proven entrepreneurs, Wavemaker Impact is helping to address this challenge head-on.

Wavemaker Partners’ commitment to sustainability is also reflected in its investment strategy. The firm seeks out entrepreneurs with unique solutions to unaddressed problems that will change the industry for the better. This approach has led to investments in a range of sectors, including enterprise, deep tech, and sustainability.

To further support its portfolio companies, Wavemaker Partners has established a mentor network of industry experts and successful entrepreneurs. This network provides valuable guidance and support to the firm’s portfolio companies, helping them to navigate challenges and achieve their full potential.

Looking to the future, Wavemaker Partners is well-positioned to continue its success in the Southeast Asian startup ecosystem. With over $400 million in assets under management (AUM) and a multi-faceted approach to investing, the firm is poised to identify and support the next generation of innovative startups.

Overall, Wavemaker Partners’ commitment to sustainability, focus on unique solutions, and robust support network make it a valuable player in the Southeast Asian startup ecosystem.

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