Wavemaker Pacific Joins DFJ Global Network
DFJ Global Network expands its presence in Southeast Asia with the entry of new S$20 million early stage fund
SAN MATEO, Calif., July 16, 2014 /PRNewswire/ -- The DFJ Global Network announced today the entry of its 15th member, Wavemaker Pacific. Wavemaker Pacific is an early-stage Southeast Asian focused venture capital fund headquartered in Singapore. The fund seeks opportunities in mobile, internet and software sectors in the ASEAN (Association of Southeast Asian Nations) region.
Wavemaker Pacific's parent fund, Wavemaker Partners (FKA Siemer Ventures), is a cross-border early-stage venture capital firm based in Santa Monica, Calif. Since 2003, the firm and its partners have invested in more than 130 companies, 15% of which have been cross-border. Wavemaker Pacific will operate autonomously as part of the DFJ Global Network while Wavemaker Partners will remain independent focusing on its early stage investments in the US and other non-ASEAN markets.
"We're excited to join the DFJ Global Network as its premier early-stage venture firm partner for the ASEAN region. We've established our firm in the area, and being part of this network across the Americas, Europe and Asia will help further strengthen our firm and our portfolio companies," said Paul Santos, Managing Partner for Wavemaker Pacific. "Joining the DFJ Network enables us to provide our entrepreneurs with world-class access, insight and global scale."
The DFJ Global Network, created in 1990, is a self-governed organization of 15 independent venture funds operating on four continents that cooperate on investment diligence, market intelligence, corporate relationships and co-investments. In 2013, the DFJ Global Network created an independent management team and board of directors to represent the member funds. All DFJ Global Network firms raise their own capital and manage investment decisions independently. This evolution of the DFJ Network improved the services offered to members and has attracted interest from top-tier funds around the world. Notable exits for Network member funds include AdMob, Baidu, LoveFilm, Skype, Yammer, and more.
"The DFJ Global Network has been looking to expand its global footprint and Southeast Asia was high on our list," said Tim Draper, DFJ founder and DFJ Global Network board member. "This region has more than 600 million people, and will continue to experience explosive economic growth in the next decade."
"Our partnership with Wavemaker Pacific will drive more value creation," said Gabe Turner, director of the DFJ Global Network. "We were impressed with Wavemaker Pacific's knowledge and experience in the region. We like the fact that they are former entrepreneurs themselves and can share their experience in building successful startups."
"We're honored to be part of the DFJ Global Network and eager to work with them as we grow our early stage investment presence in the region," said Eric Manlunas, Managing Partner for Wavemaker Partners. "We've been investing in the region for over a decade and we feel that now is an optimal time to expand our presence with a dedicated fund."
About DFJ Global Network
The DFJ Global Network, formed in 1990, is a self-governed federation of 15 independent venture funds operating on four continents that cooperate on investment diligence and co-investing. All DFJ Global Network firm members raise capital and manage their investment decisions independently.
About Wavemaker Pacific
Wavemaker Pacific is an early stage venture capital fund focusing on Southeast Asian technology enabled startup opportunities. Based in Singapore, its principals are entrepreneurs who have successfully built and exited startups themselves. They now aim to work with the region's best entrepreneurs to pursue the best opportunities and help build the regional tech ecosystem.
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SOURCE DFJ Global Network
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