Swiss investor Partners Group has entered Thailand through a partnership with SCB Asset Management, while global early-stage venture capital firm Antler has named a new partner for Southeast Asia and Japan. Openspace Ventures, the Southeast Asian venture capital investor, has rebranded as Openspace Capital.
Partners Group enters Thailand
Swiss private markets firm Partners Group said it has entered Thailand through a partnership with SCB Asset Management (SCBAM), the country’s largest asset manager.
The tie-up marks Partners Group’s first foray into Thailand with a dedicated feeder fund and the first partnership in Asia for its royalties evergreen fund, per the announcement.
SCBAM’s network of local partner banks and private wealth clients will gain access to the vehicle, which invests in sectors such as pharmaceuticals, music, media, and energy transition through structures ranging from royalty purchases to lending.
Partners Group manages $52 billion globally across evergreen funds, while SCBAM has about $62 billion in assets under management.
The Swiss firm said Thailand’s private wealth market is relatively underserved by private markets managers and presents strong growth potential. SCBAM’s scale and experience in private markets distribution were key factors in the tie-up, it added.
Antler names new SE Asia, Japan partner
Global early-stage venture capital investor Antler has appointed Hiro Kiga as partner for Southeast Asia and Japan, as it seeks to drive early-tech investments in both markets.
Based in Singapore, Kiga will lead Antler’s investment strategy in Japan while working with its Southeast Asia team to accelerate “day zero” investing, boost founder mobility, and foster more cross-border startups, the firm said in a statement.
Kiga co-founded Wallex, a cross-border payments platform, in 2016 and grew it into a regional fintech player before it was acquired by Singapore’s M-DAQ in 2022.
He previously spent four years in venture capital, including at Strive VC, after starting his career as a software engineer at Macquarie Group. He was an early investor in Indonesian e-commerce firm Bukalapak, which later became a unicorn and was listed in 2021.
Antler, which operates in more than 30 cities, including New York, London, Berlin, Bangalore, and Sydney, has backed over 1,500 startups worldwide.
Openspace Ventures rebrands, launches two new funds
Southeast Asian venture capital firm Openspace Ventures has rebranded as Openspace Capital and is launching two new funds that will target equity growth and private credit markets.
The Orbit Listed Growth Fund, developed in partnership with Australian fund manager Perennial Partners, aims to leverage Singapore’s Equity Market Development Programme (EQDP) to drive listings on the Singapore Exchange.
The fund will be led by chief investment officer Udhay Furtado, a veteran of Citibank and Goldman Sachs, according to a report by The Business Times.
Openspace’s second offering, the Onyx Growth Credit fund, targets US$200 million and will deploy US$15-30 million per deal. Led by head of credit Omesh Fabiani, the fund provides growth capital alternatives to equity financing.
Founded in 2014, Singapore-based Openspace has invested across sectors including technology, healthcare and consumer services, and is best known for backing regional unicorns such as Gojek.
