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    Home»Fundraising»SG-based PE firm Novo Tellus raises $250m for second SE Asia fund
    Fundraising

    SG-based PE firm Novo Tellus raises $250m for second SE Asia fund

    February 15, 20211 Min Read
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    Novo Tellus, a Singapore-based private equity firm that focuses on mid-market technology and industrials sectors of Southeast Asia, has reached the final close of Novo Tellus PE Fund 2 at $250 million.

    According to a statement from FIRSTavenue the global placement agent in the fundraise, the PE fund was 43% above the fundraising target and attracted global institutional investors, which made up 88% of the fund’s commitment.

    Endowments, retirement funds, sovereign wealth, and global fund-of-fund investors represented the vast majority of LP commitments, according to the statement.

    As with its predecessor, Fund 2 will target mid-market tech and industrials deals in the region and has already been tapped for two investments.

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    Source: Deal Street Asia

    By Mars W. Mosqueda Jr.

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