Wavemaker Pacific 5, L.P.

Customer

Wavemaker Pacific Partners Pte. Ltd. is a well-established independent Fund Manager operating since 2012 in South East Asia. It had raised USD 318m across four early stage focused venture funds (seed to series B) with total investments into 210+ companies.

Funding Objective

The investment, amounting to up to USD 15 million, is directed towards Wavemaker V, a venture capital fund with an intended total fund size of USD 150 million. Wavemaker V is strategically focused on acquiring minority stakes in B2B technology-oriented business models across Southeast Asia, encompassing a wide array of enterprises including software, hardware, Software as a Service (SaaS), SME tech, along with pioneering fields such as AI and biotechnology. The fund's investment targets are companies that have not only commenced operations but also demonstrate potential for rapid sales growth and a clear trajectory towards profitability over a long-term horizon. Wavemaker V typically engages in funding rounds from seed to Series B, underscoring its commitment to nurturing innovation and growth within the B2B tech sector.

Reasons for financing

Wavemaker V adopts an active investment management approach, focusing on the creation of long-term sustainable value for portfolio companies. By assisting these companies in navigating strategic and operational challenges during their scale-up phases, the fund aims to catalyze significant growth and job creation within the sector. This investment aligns with the transformational goals of the KfWplus agenda, specifically in areas of digitalization and innovation, by enhancing digital capacity and connectivity across the economies of DEG’s partner countries.

Moreover, DEG's involvement will bolster environmental and social (E&S) standards among portfolio companies, while also serving as a powerful signal to other development finance institutions (DFIs) and large investment entities about the viability and importance of such investments. DEG has been offered a seat on the Limited Partners Advisory Committee (LPAC), further enabling it to contribute to the fund’s strategic direction and oversight.

The transaction contributes to the Sustainable Development Goals, in particular SDGs 8 and 9.

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