Vickers Venture Partners is looking to raise up to US$500 million for its Fund-VI, as it seeks to ramp up investments in biotechnology, nanotechnology and Artificial Intelligence (AI), says a Reuters report citing its Chairman Finian Tan.
The Singapore-based VC firm is already in the hunt for anchor investors for the new fund. It is keen to ride on the growth in the biotechnology, nanotechnology and AI sectors, he said in an interview to the news agency.
“In these three megatrends, if you follow them and invest in them, the growth will be exponential,” he said.
Last October, Vickers raised US$320 million for Fund-V. Of that, the VC investor has committed to about US$130 million in deals and expects another US$20 million worth to be closed soon.
“We still have some reserves for follow-on investments, and we probably have space for perhaps another seven new deals,” he said.
Founded in 2005 by Tan, along with four partners – Dr Khalil Binebine, Dr Jeffrey Chi, Dr Damian Tan and Linda Li, Vickers is focusing on Asia and beyond. Its portfolio covers life sciences, technology, media, and telecommunications as well as consumer and financial services.
Its partners have track records that include hits such as Baidu.com, Focus Media Holding Ltd, Kongzhong Corp., Cambridge Real Estate Investment Trust, Sunfun Info Co. Asian Food Channel, UUCUN, TWG Tea, RTG Asia, and JJE.
It has offices in Shanghai, Hong Kong, New York and San Diego, in addition to its headquarters Singapore.