Singapore’s TNB Aura holds final close of first SEAV fund at $22.7 mln

Singaporean private equity firm TNB Aura has completed the final close of its initial Southeast Asia venture (SEAV) fund at 31.1 million Singaporean dollars ($22.7 million).

The investments came from institutional investors, regional corporations, family offices and high net worth individuals. The fund had a target of $22.5 million.

TNB Aura Fund I will invest in a data-driven business to business enterprises in advanced manufacturing & engineering, internet of things, robotics and autonomous systems, artificial intelligence machine learning and augmented reality.

The fund, which is a partnership between Singaporean investment firm TNB Ventures and Australian lender Aura Group, intends to eventually back 10 to 15 companies across the region with sizes are between $364,140 and $2.2 million.