Singapore VC fund TNB Aura makes final close of first fund at US$22.64M

Sainul Abudheen
Singapore VC fund TNB Aura makes final close of first fund at US$22.64M

TNB Aura is also Enterprise SG’s co-investment partner and invests up to US$2.91M in promising post-seed and Series A startups across Southeast Asia

Singapore-based TNB Aura has announced the final close of its inaugural Southeast Asia-focused VC fund, oversubscribed at S$31.1 million (US$22.64M).

Several institutional investors, regional corporations, family offices and ultra high net-worth individuals individuals backed the fund.

TNB Aura Fund I serves as TNB Ventures’s and the Aura Group’s inaugural investment vehicle focused on data-driven B2B enterprises. It invests in companies with established traction and proven teams, in areas such as advanced manufacturing & engineering, IoT, robotics & autonomous systems, AI/machine learning and augmented reality/virtual reality.

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The VC firm invests between S$500,000 and S$3 million into early-stage seed-to-Series A/B startups in Southeast Asia.

“With the financial acumen of the team and ability to engineer exits for our portfolio companies, we look forward to investing in the best startups in Southeast Asia, growing together with them, and establishing ourselves as the one of the top players in the region,” said Vicknesh R Pillay, Co-founder and Managing Partner of TNB Aura.

Since launch, TNB has invested in three companies, including TradeGecko, a global inventory and order management platform for SMEs; Ematic Solutions, a digital cross-channel marketing optimisation platform; and an O2O consumer electronics distributor in Vietnam.

TNB Aura is also Enterprise Singapore’s co-investment partner under the Startup SG Equity scheme and invests up to S$4 million (US$2.91M) in promising post-seed and Series A startups across Southeast Asia.

“Our hands-on approach is designed to maximise the potential of exceptional companies. We focus on identifying high-calibre teams applying unique technologies via defensible business models, and support their transformation into long-term sustainable businesses. We hope to back approximately 10-15 companies across the region using this high-conviction approach,” said Charles Wong, Managing Partner of TNB Aura.

Riding on strong economic tailwinds, a young and dynamic population where more than 50 per cent are below the age of 30, and over 330 million monthly hyper-engaged internet users, Southeast Asia’s internet and tech-enabled economy is set to enjoy unprecedented growth.

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