Dymon Asia PE to close second Southeast Asia fund at US$450 million

Thu May 3, 2018 - 6:16am GMT+0000
Dymon Asia
Dymon Asia PE to close second Southeast Asia fund at US$450 million

Dymon Asia

3/5/3018 – Dymon Asia Private Equity (DAPE), the PE arm of Dymon Asia Capital has announced the final close of its second Southeast Asia fund at US$450 million

According to Dymon Asia, the demand from both existing and new investors was strong and that the DAPE II fund was reportedly oversubscribed from its initial target of US$300 million within several months of its launch on October 2017.

“We are excited to be able to continue with our strategy to invest in SMEs in Southeast Asia, where we believe there are many uncut diamonds,” explained Keith Tan, a partner at Dymon Asia Private Equity.

The PE firm’s first fund, Dymon Asia Private Equity (SE Asia) Fund, was launched in October 2012 and had achieved a final close S$300 million (about US$246 million) in commitments.

The fund was backed by Heliconia Capital Management, a wholly owned subsidiary of Temasek Holdings and has successfully invested in 12 companies in Singapore, Malaysia, and Thailand between 2013 and 2017.

Dymon Asia PE makes both growth and control investments in companies with profits between US$5 and US$30 million. It typically makes equity investments of US$11 to US$37 million in each company in return for minority or majority stakes.

So far, DAPE has successfully exited three investments, which have already returned more than the capital it has drawn from investors.

“Our partnerships with entrepreneurs and management teams have been very successful so far. We have been able to achieve many of our strategic milestones ahead of schedule,” Tan added.

Dymon Asia Capital was co-founded in 2008 by Danny Yong and Keith Tan and currently manages US$5.7 billion across hedge fund, private equity, and venture capital assets. Majority owned by its partners, it counts Temasek among its stakeholders.