Vickers Venture Partners raises record US$230m for fifth fund

SINGAPORE - Venture capital firm Vickers Venture Partners has raised US$230 million (S$312.9 million) - US$40 million came through a yuan-denominated vehicle - to invest in start-ups around the world.

Fund V is larger than Vickers Venture Partners' four previous funds put together and is believed to be the biggest non-government linked VC fund in Southeast Asia.

About half of of Fund V has already been committed.

Vickers Venture Partners has offices in Shanghai, Hong Kong, Singapore, New York and San Diego, with one opening in San Francisco in 2018.

It was founded in 2005 by Dr Finian Tan, Dr Khalil Binebine, Dr Jeffrey Chi, Dr Damian Tan and Ms Linda Li.

The firm's portfolio covers life sciences, technology, media, and telecommunications as well as consumer and financial services.

Vickers has invested a total of US$186 million from its four previous funds. It has also co-invested US$178 million - making a total of US$363 million.

It has invested in 42 companies to date and will have 47 firms in its portfolio by the end of this year .

Chairman Finian Tan was among the first investors in Baidu, investing US$6 million when the start-up was valued at US$20 million. The Nasdaq-listed Chinese Internet giant now has a market capitalisation of about US$85 billion.

His other investments include San Diego-based biotech start-up Samumed, in which he and his co-investors own approximately 11 per cent of the company now valued at US$12 billion.

The total market value of the companies that the partners have helped grow exceeds US$90 billion, according to Vickers.