Singapore-based August Global Partners (AGP) has closed its second fund, the AGP Healthcare Fund, at $150 million, per a company statement.
The final close surpassed “initial fundraising targets”, the firm said, adding that it has raised capital from financial, institutional and strategic limited partners spanning Asia, Europe, and North America.
Together with its inaugural vehicle, the AGP Continuation Growth Fund, AGP now manages $350 million in assets.
The flagship healthcare fund has already deployed capital and delivered early distributions, AGP claimed. The fund has made five investments so far, including in Vietnam-based Gene Solutions and IPO-bound Ultragreen.ai.
The first fund, which carries several legacy assets from Singapore’s EDBI as a result of a spinoff that created AGP, backed companies across various sectors such as healthcare and deep tech.
Meanwhile, the new healthcare fund targets transformative, high-growth opportunities in healthtech, advanced manufacturing, digital health, and precision medicine, anchored by the investment theme ‘Living Better, Aging Better’. It will look at models from genomics and oncology to edge AI-powered wearables, medtech, and speciality healthcare access.
“Looking ahead, the convergence of medical technology, digital health, AI, and Asia’s demographic transformation presents unprecedented opportunities for innovation and growth,” said Dr. Basil Lui, Founding Partner at AGP.
“AGP remains committed to a focused investment approach—partnering with exceptional founders and scaling platforms that address the urgent needs of preventive health, ageing populations, chronic disease management, and the future of medicine across the region,” he continued.
Healthcare remains one of the few sectors that have stayed resilient despite the fundraising slowdown in Southeast Asia. Quadria Capital, a general partner focused on healthcare investments in India and Southeast Asia, closed its third fund at nearly $1.1 billion in May, significantly exceeding its $800-million target.
TVM Capital Healthcare Asia is seeking $150 million for its maiden SE Asia-focused fund, and has raised a third of the target by September.
