Vulcan Capital, the investment arm of Microsoft co-founder and philanthropist Paul Allen has officially expanded to Southeast Asia with the opening of its first international office in Singapore, according to a statement released by the company.
The office in Singapore is Vulcan Capital’s first office outside of the United States. It will serve as a base for the company to expand into Southeast Asia.
According to The Straits Times, it took the company almost three years to decide on Singapore.
The Singapore office will focus on Seed, Series A and B investments in the region. It is led by managing directors Tommy Teo and Minjie Yu who both have extensive investment experience.
Prior to joining Vulcan Capital, Teo worked at Northstar Group, a Singapore headquartered private equity firm managing more than USD 2 billion in assets. Yu had worked in Singapore-headquartered Ethos Partners and Morgan Stanley.
Vulcan intends to deploy USD 100 million to invests in Southeast Asian tech companies. It will be one of the largest early-stage funds in the region.
Other funds of comparable size are Singapore-based Monk’s Hill, with a USD 150 million second fund, Golden Gate Ventures’ USD 100 million fund for Southeast Asia, and Jungle Ventures’ USD 175 million fund.
Unlike normal venture capital firms, Vulcan Capital directs all of its returns to Vulcan Inc’s broad range of global philanthropic initiatives, including climate change and wildlife conservation efforts.
In doing so, Vulcan Capital hopes to attract mission-driven startup founders in the region and help to “support communities around the globe through catalytic philanthropy, scientific research, and commercial ventures,” said Bill Hilf, the CEO of Vulcan Capital, in the statement.
