Vulcan Capital opened an international office in Singapore with an intention to invest an initial $100 million in technology startups across Southeast Asia, Bloomberg News reported.
The private equity firm plans to initially deploy capital into startups in Singapore, Indonesia and Vietnam. It hired financiers Tommy Teo and Minjie Yu as managing directors to lead the Singapore division, with a focus on seed, series A and series B investments in financial services, real estate technology, consumer internet and other areas, the news outlet noted, citing Teo.
Vulcan Capital is part of industrial conglomerate Vulcan Inc. and is the investment house of Microsoft Corp.'s late co-founder Paul Allen.
