Singapore’s biggest private venture fund to invest in ‘deep technology’
SINGAPORE’S biggest venture capital firm is looking to invest in “deep technology” after completing its largest fundraising to date.
Vickers Venture Partners, headed by Finian Tan, said they raised a total of US$230 million, with US$190 million coming from their fifth fund and US$40 million from a yuan-motivated funding series.
Tan, who made his name through investing in the early stages of Chinese-based search engine provider Baidu, has seen success through investing in sustainable business models that also provide a competitive edge.
According to data acquired by Preqin at the end of June, the venture capital group, whose client portfolio includes data-sourcing group Snapcart, are top of the leader boards in areas of fundraising performance.
With the latest fundraising, the investment house is targeting what Tan refers to as “deep technology”.
“We are focusing on deep tech and impact,” Bloomberg quoted Tan as saying. Deep technology refers to the category of companies who are founded on the principles of scientific discovery and innovative engineering.
A heightened consciousness of venture capitalists provides this sector with a fair share of funding. Tan is one of these conscious investors and has pledged one third of the fund to India and Southeast Asia.
The investments will see growth in augmented reality, virtual reality, robotics and artificial intelligence, as well as focusing on problem solving, reported Mint.
How will deep technology impact society?
While business models of innovation, sharing economy and offline-to-online transition matter to the immediate investment climate, deep technology strives to help communities in the longer term.
Studies of genomics and speech recognition fit into the categories of deep technology, and it is the crucial advancements in these fields which Tan and his army of investors want to bring to life.
Deep technology startups have a significant ability to disrupt investment trends in several markets. They can build a wealth of economic value for early investors and create a positive and permanent affect on society.
Tan’s fundraising will help secure futures for companies who strive to help communities. “In emerging markets, we are in digital wallets and health, which we can measure by the number of lives we affect,” Tan said.