Insignia Ventures Partners has raised $516 million and it will be targeting to make investment in technology companies in Southeast Asia.
“We could have raised a much higher amount but we have learned that smaller, tighter funds do better,” Insignia’s founding managing partner Yinglan Tan said.
The fundraising includes $388 million for Insignia’s third fund, $28 million for an entrepreneurs’ pool that invests alongside the main fund and an Annex Fund I at $100 million, said the five-year-old firm that has backed more than 70 companies.
Insignia said investors for its third fund, which was oversubscribed, included sovereign wealth funds, university endowments and family offices from Asia, Europe and North America.
Insignia’s portfolio companies include Southeast Asian car marketplace Carro, Indonesia’s biggest tech firm GoTo, and Indonesian digital investment platform Ajaib.