Novo Tellus, a private-equity firm focused on investments in the mid-market technology and industrial sectors of Southeast Asia, has completed a final closing for its Novo Tellus PE Fund 2.
The fund raised $250 million in capital commitments for Fund 2, coming out 43 percent above its fundraising target.
According to a statement from FIRSTavenue, which acted as global placement agent in the fundraise, global institutional investors represented more than 88 percent of capital raised. The investor base included endowments, retirement funds, sovereign wealth funds, and global funds of funds.
“Despite formidable challenges with fundraising during a global pandemic, we’re pleased that our strategy, our track record and the positive early performance from our first two investments have helped underscore Novo Tellus’ ability to find and build investment value right through the cycle,” said Loke Wai San, managing partner at Novo Tellus.
Fund 2 has already