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Gobi Partners raises US$200M for growth fund

Gobi Partners raised US$200 million at the close of its Meranti ASEAN Growth Fund LP, DealStreetAsia reported Aug. 7.

The venture capital firm told the news outlet that the vehicle was closed in December 2019 at its target size. The fund, which held a US$50 million first close in August 2017, seeks to invest primarily in cloud services, e-commerce, fintech and Muslim-focused tech.

Malaysia Venture Capital Management Bhd., GS Shop and CKM are the limited partners backing the fund, and other investors included Bosch, Cisco and Unilever, according to the report.