Singapore- headquartered venture capital firm, Patamar Capital has announced that it will launch a new female-entrepreneurs-focused fund (Beacon Fund) with an initial target of US$50 million. This fund will target female entrepreneurs based in Southeast Asia emerging markets.
Founded by Shuyin Tang and Lee Fitzgerald (both partners at Patamar Capital), Beacon fund said it has already raised approximately 25 per cent of the target.
The firm’s initial focus will be on debt products, which, it says, tend to be a better fit for the moderate-growth, cash-flow positive businesses that the fund targets.
Beacon’s investment in startups will range from US$500,000 to US$2 million.
Beacon has partnered with other firms with similar aims including ‘Investing in Women’, an initiative of the Australian Government; and USAID INVEST, an initiative that mobilizes private sector capital for better development results.
The VC firm thinks there are a lot of firms missing out on funding because they do not fit the traditional venture capital profiling.
CEO and co-founder Shuyin Tang explained “There is a vast underserved segment of businesses whose growth profile does not match with the expectations of VC/PE, but are creating considerable value for their customers and stakeholders. In fact, these SMEs are the backbone of the economy in Southeast Asia,”
“Many of these businesses have grown organically and demonstrated solid cash flows over time. We saw this was a common growth trajectory for female entrepreneurs in particular. The Beacon Fund is focused on meeting the financing needs of these types of businesses, and beyond that, creating a community celebrating alternative models of entrepreneurial and investing success,” Tang added.