Venture capital firm Unitus Impact Partners recently said that it has planned to invest more than US$6 million in Southeast Asia’s early stage ventures, in conjunction with a name change to Patamar Capital.
The announcement was made at the Asian Venture Philanthropy Network 2017 conference in Bangkok, Thailand on 7th June.
“We are excited to share our new name with the world,” said the CEO of Patamar Capital Geoff Woolley. “We believe it will help us stand out even more clearly in the years to come. We are proud to have spent the last six years building an enviable reputation for deep commitment to visionary entrepreneurs across South and Southeast Asia.”
“As Patamar Capital, we look forward to continuing our growth as the region’s leading venture capital firm focused on applying our experience and knowledge to help improve the lives of low-income populations in Asia,” Woolley added.
So far, the company has invested up to US$2 million in scalable businesses to improve the livelihoods of the working poor in some of Asia’s fastest growing sectors like agriculture, education, healthcare, employment access, and financial inclusion.
Most of its capital goes to early-stage impact startups such as Indonesian healthcare startup mClinica, Vietnamese for-profit social enterprise iCare Benefits, and Kalibrr, a jobs portal from the Philippines.
By the end of 2017, the San Francisco-based impact venture capital firm will also close two to three deals in Southeast Asia, in addition to one exit from the region.
Patamar Capital also said that it will be raising a new fund in the medium term, two years after its last Livelihood Impact Fund at US$45 million. Patamar Capital’s Limited Partners include philanthropic organizations, family offices, and pension funds.
Other reports on impact investors in the region include Aavishkar group raising a US$45 million fund focused on South and Southeast Asia. The firm has made one investment in Indonesia so far, in a seafood processing company known as Bali Seafood.
This news is published on Reuters.