Square Peg Capital closes $550M fund for Southeast Asia, Australia and Israel • TechCrunch
It’s a tough market for venture capital, but Square Big Capital It is moving forward with its focus on Australia (where it is based), Southeast Asia and Israel. The company announced today that it has closed its fifth fund totaling $550 million. This brings the total raised across all funds to approximately $1.6 billion.
Square Peg has invested in more than 60 companies, returning more than $580 million to its investors via 11 outlets with an internal rate of return of 42%. Australian pension funds such as Hostplus and AustralianSuper are among their backers, and other LPs include new and returning investors from family offices, foundations and endowments.
A portion of Square Peg’s new capital will be used in its seed fund, which primarily invests in Class B startups. It will also invest in later stages of the best performing portfolio companies through its Opportunity Fund.
Square Peg has a growing footprint in Southeast Asia, where partners Tushar Roy and Piruze Sabuncu are based. Roy For TechCrunch in April Southeast Asia is the company’s fastest growing geographic footprint. Half of its last $275 million fund, Fund 3, was invested in Southeast Asia. The company focuses on five key areas in the region: consumer internet, fintech, education technology, the future of work, health technology, and SaaS.
Some of Square Peg’s investments to date include from Southeast Asia LottieFilesAnd the Doctor anywhere And the FinAccel. It’s a new fund to invest in too Recruitment automation platform Kula And the Open Source Firebase Alternative Supabase.
“We already know the potential of Southeast Asia when we look at the underlying aggregate numbers, but the past few years have proven that you can build a global business out of this region, or create new business models that can disrupt the way people access various services,” Sabunko said in a statement. Whether it is related to lending, education or health care.”