Southeast Asia-focused Dymon Asia PE closes third fund at $650m hard cap

Southeast Asia-focused Dymon Asia Private Equity has closed its third fund, Dymon Asia Private Equity Fund III LP, at a hard cap of $650 million.

The fund, which exceeded an original target of $550 million, was closed less than six months after launch, the firm said in a statement last week.

Limited partners in the fund include public pension funds, endowments, banks and insurance companies, fund-of-funds and multi-generational family offices.

“The fund aims to partner with and invest in leading companies across Southeast Asia in sectors that are freely competitive, growing and strategically important,” Dymon Asia Private Equity said, adding that the new investment vehicle will focus on privatisations, management-led buyouts and growth capital investments across the region.

Last month, DealStreetAsia reported that the firm had gathered $593 million for its third fund. The second fund was raised four years ago at $450 million while the first fund raised $246 million in 2012.

Dymon Asia Private Equity said its first and second Southeast Asia fund invested in 12 and 14 companies respectively, and recorded eight exits already via trade-sale and IPO.

“Over a typical 3-5 years holding period, we work with founders and management teams on issues such as succession planning, technology implementation and acquisitions,” said Gerald Chiu, managing partner of the firm.

Upon the successful close of its third fund, Dymon Asia Private Equity said it will further increase its presence across Southeast Asia as well as expand its team.

In addition to its original founding in Singapore, today the firm also has offices in Kuala Lumpur and Bangkok. Earlier in 2022, Dymon Asia Private Equity promoted Gabriel Ho to partner and Thein Shao Ming to managing director.

The firm’s parent company, Dymon Asia Capital, was co-founded in 2008 by Danny Yong and Keith Tan and currently manages $5.7 billion across hedge fund, private equity and venture capital assets. It counts Temasek among its stakeholders.

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