Ex-Sequoia Asia partner Yinglan Tan closes $25M account and creates initial investment

More sum about former Sequoia try partner Yinglan Tan’s new account have emerged after an SEC filing reliable that it has lifted $25 million for a lass fund, and it done a initial investment.

Tan, who was with Sequoia’s Singapore bureau for 5 years before withdrawal this summer, is suspicion to be starting Insignia Venture Partners to concentration on Southeast Asia’s fast-emerging startup scene.

The account has already been uncorked and done a initial deal, heading a $4 million investment in Indonesia-based co-working startup Ev Hive, a source tighten to negotiations told TechCrunch.

Tan did not respond to requests for comment.

There isn’t a tonne of fact in a filing — that was initial speckled by Deal Street Asia — though it looks like Tan has teamed adult with associate Singaporean Lin-Hong Wong to start a new venture. Wong, who has spent time during Singaporean emperor account Temasek and the Singapore Economic Development Board, is listed as a executive of Insignia Venture Partners within a filing. Wong now operates a consulting group called Wingz Capital, and it is misleading either he will change that with his purpose during a fund.

Aside from carrying worked in a investment space, both group have also authored books on a subject. Tan wrote dual books — one on creation in China and another on ubiquitous try collateral — while Wong’s title covers try collateral account management.

A $25 million account would expected work in a seed and Series A space in Southeast Asia, a shred that once was seen as a opening though now is apropos good filled with funds. Some of a VCs personification in a space embody Golden Gate Ventures ($50 million), Jungle Ventures ($100 million), Venturra Capital ($150 million), and Monk’s Hill Ventures ($80 million.)

Sequoia is one of a few investment supports that operates in a Series A and Series B spaces in Southeast Asia. Despite that and flourishing seductiveness in a segment from vital tech companies, with new deals from Alibaba, Tencent, SoftBank and Expedia, it doesn’t have a dedicated fund. Instead, a Southeast Asia deals are lonesome by a Sequoia India fund. The stream India fund, a firm’s fourth, is a country’s largest VC account with a sum corpus of over $850 million.

Earlier this summer, Sequoia cumulative $4 billion in uninformed financing, including $2 billion for a expansion funds, according to a U.S. filing. The organisation decrease to yield sum on how a collateral will be allocated, though a good gamble is that a vast cube will be put to work in Asia. Indeed, according to report, $125 million of that uninformed allocation was funneled into a stream India fund.

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Posted by on Sep 13 2017. Filed under NEWS. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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