Koh, 71, also the former chairman of DBS Group Holdings and Singapore Telecommunications, founded Altara in 2020 with four fellow investors to tap Southeast Asia’s tech boom. About 70% of the fund has been earmarked for the region, with the firm focusing on areas including fintech, consumer internet, health care, logistics, enterprise software and education.
The venture capital firm co-founded by former Singapore Airlines Ltd. Chairman Koh Boon Hwee closed its first fund at US$130 million ($174.54 million) to back startups in Southeast Asia’s fast-growing technology industry.
The firm, Altara Ventures, drew in investors including Singaporean and South Korean sovereign wealth funds, Razer Inc., and a Europe-based fund of funds, Dave Ng, one of the firm’s five general partners, said in a phone interview. It exceeded its initial target of $100 million, he said.
