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INSIGHTS / INTERVIEWS

Exclusive: Patamar Capital to raise US$150 million, eyes Series B investments

Indonesia · Jul 26, 2018· By Putu Agung Wija Putera

Photo by Gorodenkoff/Shutterstock.com

The impact investment VC recently scored an exit at Indonesian online-to-offline group buying startup Mapan, when it was bought over by Go-Jek

San Francisco-based Patamar Capital wants to raise US$150 million in a new fund, expecting to reach US$70 million at first close in September.

Formerly known as Unitus Impact, Patamar Capital currently manages about US$45 million, investing in 16 companies, mainly in Indonesia, the Philippines, Vietnam, India and China.

“But we’re almost running out, so we’re raising funds, targeting US$150 million in total… [and so] we might be able to get into Series B as well,” Patamar Associate Ellen Nio told CompassList.

Patamar has focused on Series A financing so far, with some seed investments funneled through its accelerator programs.

For its next fund, Patamar is seeking fintech companies to bolster its portfolio. According to Nio, Patamar looks for companies with valuations that “make sense”. “When you compare the valuation of some companies here [in Indonesia] against companies with similar booking values in the Philippines, the ones here can be valued more than 10 times higher, which we think doesn’t make sense,” she said.

She said the firm is also looking at startups from Myanmar and Cambodia.

Edited by Bernice Tang

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