Venture capital firm Quest Ventures on target to raise US$50m for its second start-up fund

The Straits Times

Pavilion Capital, a subsidiary of Singapore state investor Temasek Holdings, and Kazakhstan sovereign wealth fund QazTech Ventures have already invested in the Asia Fund II, said Quest Ventures on Thursday (April 16).

The Asia Fund II will back 40 to 60 start-ups in South-east Asia and emerging Asia markets, with investments of between US$500,000 to US$1 million.

The venture firm said it will continue to back driven founders with disruptive business models that can create sustainable value for customers.

Quest Ventures has previously invested in a range of start-ups, including cashback platform ShopBack, property search portal 99.co and online marketplace operator Carousell.

Quest Ventures managing partner James Tan said: “As the digital economy matures across the world, the venture capital industry in Asia is now poised to play a mainstream role to bring the public and private markets closer.”

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