Asia Partners Fund Management

What Asia Partners Fund Management does

Asia Partners Fund Management Pte. Ltd. is a Singapore-incorporated private growth equity investment firm founded in 2019 by Nicholas A. Nash, formerly Group President at SEA, and Oliver M. Rippel, formerly Chief Executive of B2C E-commerce at Naspers. The firm was purpose-built to address the Series C/D funding gap in Southeast Asia, where checks in the US$20–100M range are scarce between early-stage venture capital and public capital markets. Asia Partners manages two funds—Asia Partners I LP (US$384M, final close March 2021) and Asia Partners II LP (US$474M, final close January 2024)—for combined assets under management of approximately US$1.0 billion. The firm typically takes 10–20% significant minority stakes in founder-led, technology and technology-enabled companies at validated traction, deploying roughly US$20–100M per transaction.

The business operates as a standard growth equity fund manager. Revenue is generated through two streams: recurring management fees on committed capital under management, and performance-based carried interest from successful exits and realizations from portfolio companies. The firm maintains a single Singapore headquarters (88 Market Street, CapitaSpring), with a team of approximately 18 members organized around partners covering regional verticals plus finance, operations, and investor relations functions. Limited Partners include institutional investors (DFC, IFC, DEG, FIC, Generation Capital), family offices, and individual investors across six continents, with more than 9% of Fund II capital contributed by Asia Partners' own employees and Advisory Board members.

Customer-facing activity consists of direct investment relationships with portfolio companies (currently 8 active investments across 11 Southeast Asian markets including Carsome, Amity, Kredivo Group, ShopBack, and Doctor Anywhere) and LP relationship management through an investor portal and annual Southeast Asia Internet Report thought leadership series. Asia Partners does not sell technology products, software, or subscriptions; its distribution model is direct relationship sourcing for both deals (founder network and SEA first-generation alumni) and capital (institutional and family office LP channels).

Name

Asia Partners Fund Management

Legal name

Asia Partners Fund Management Pte. Ltd.

Website

https://asiapartners.com

Company type

Private

Founded year

2019

Operating status

Operating

Headcount range

11–50 employees

Short description

Asia Partners Fund Management is a Singapore-based growth equity firm founded in 2019 that invests US$20–100M in Series C/D technology and technology-enabled companies across Southeast Asia, managing approximately US$1.0 billion in AUM across two funds. The firm serves founder-led companies in the region's underserved late-stage growth gap and institutional LPs globally.

Ownership category

akta.pro rank

Product category

Growth Equity Investment Management

NAICS

Other Investment Pools and Funds (5259)

SIC

Investment Advice (6282)

akta.pro primary industry

Growth Equity Fund-of-Funds (FSANAGAE)

akta.pro secondary industry

Venture Growth / Recurring Revenue Credit Funds (FSANAIAG)

Keywords

• Growth equity investing
• Venture capital management
• Technology investment funds
• Private equity management
• Southeast Asia investing

Headquarters

HQ city

Singapore

HQ country

Singapore

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D

Revenue model

1. Management Fees: Asia Partners earns management fees from managing its two funds (Asia Partners I LP and Asia Partners II LP), which have a combined AUM of approximately $1 billion.
2. Carried Interest: Performance-based carried interest from successful fund exits and realizations from portfolio companies.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

Asia Partners Fund Management is a Singapore-based growth equity investment firm that manages approximately $1 billion in assets under management across two funds (Asia Partners I LP at $384M and Asia Partners II LP at $474M). The firm invests $20-$100 million per deal into Series C/D stage technology and technology-enabled companies across Southeast Asia, taking 10-20% significant minority stakes and providing board participation and operational support to portfolio companies.

Product overview

Asia Partners Fund Management is a Singapore-based growth equity investment firm focused on investing in high-growth technology and technology-enabled companies across Southeast Asia. The firm manages approximately $1 billion in assets under management across two funds (Fund I at $384 million and Fund II at $474 million), targeting investments in the $20-100 million range to address the Series C/D funding gap in the region. The firm does not offer a product-based service; rather, it provides growth equity capital, operational expertise, and board participation to technology entrepreneurs. Asia Partners publishes annual Southeast Asia Internet Reports as thought leadership and maintains an investor portal (ipreoprism.com) for limited partners.

Differentiator

Problem solved

Functional benefit

Products and services

• Asia Partners I LP Asia Partners' inaugural growth equity fund targeting Series C/D investments of $20-100 million in Southeast Asian technology and technology-enabled companies. Closed at $384 million in March 2021. Targeted at institutional limited partners, family offices, and individual investors seeking exposure to Southeast Asia growth equity.
• Asia Partners II LP Asia Partners' second growth equity fund, closed at $474 million in January 2024 and 23% larger than Fund I. Targets the same Series C/D investment thesis ($20-100 million checks) in Southeast Asian technology companies. Limited partners include DFC, FIC, DEG, Generation Capital, IFC, Asia Partners employees, and Advisory Board members.

Quantifiable outcome

• SEA Group IPO: $989 million
• +2 more outcomes

Named customers5 records

Segments1 record

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators5 records

Recent moves8 records

Expansion highlights5 records

Direct peers

• Navis Capital Partners: Pan-Asian private equity firm with deep Southeast Asia presence, backing growth-stage consumer, services, and tech-enabled businesses. Direct peer operating in the same regional growth-equity niche with comparable check sizes.
• EDBI: Singapore's sovereign-backed direct investment firm focused on high-growth technology and technology-enabled companies across Asia. Direct peer in SEA tech growth equity, frequently co-investing with Asia Partners (e.g., Amity Series D lead).
• Northstar Group: Jakarta-headquartered private equity firm founded by Patrick Walujo, focused on growth and control investments in Indonesian and broader Southeast Asian consumer, financial services, and tech-enabled companies. Direct peer sharing the same Series C/D growth-equity mandate and SEA geographic footprint.
• Creador: Southeast Asia-focused private equity firm investing growth and control capital into consumer/tech-enabled businesses across the region. Direct peer in geography, ticket size, and sector focus, competing for the same Series C/D companies in Malaysia, Indonesia, Vietnam, and Thailand.
• Affirma Capital: Singapore-headquartered private equity firm (formed from Standard Chartered PE's Asia operations) investing growth and buyout capital across Southeast Asia, India, and Greater China. Direct peer in regional focus and mid-market growth-equity ticket sizes.

Broad incumbents

• Pavilion Capital: Singapore-based direct private equity arm of Temasek Holdings, investing growth capital into technology, consumer, and financial services companies across Asia. Comparable mandate and ticket size, but backed by a sovereign balance sheet and broader portfolio.
• Warburg Pincus: Global private equity and growth-equity firm with an established Asia-Pacific practice investing in technology, financial services, and consumer businesses. Competes for many of the same Series C/D opportunities in Southeast Asia, but at significantly larger fund and AUM scale.
• General Atlantic: Global growth-equity firm where Asia Partners co-founder Nick Nash previously worked; invests $25M–$500M+ in high-growth companies worldwide with a strong Southeast Asia practice. Comparable in growth-equity mandate and check size, but operates at significantly larger AUM and broader global scale.
• Hillhouse Capital: Asia-focused investment firm managing public and private capital across consumer, technology, healthcare, and financial services. Comparable in growth-stage equity investing and Asia-Pacific thesis, but with significantly larger AUM and broader mandate including public equities.
• KKR Asia: Asia-Pacific platform of global alternative asset manager KKR, deploying growth-equity, buyout, and infrastructure capital across the region including SEA tech-enabled businesses. Comparable in growth-equity ambition but operates across a broader range of strategies, sectors, and geographies.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInsg.linkedin.com/company/asiapartners

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments17 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Asia Partners Fund Management