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Private equity firm Caldera Pacific nets USD 250 million debut fund for Southeast Asia

The private equity firm has led a number of investments in Vietnam, including in e-commerce player Leflair and asset management firm Dragon Capital.

Private equity firm Caldera Pacific has raised USD 250 million for its debut fund, DealStreetAsia reported, citing a source.

Tech in Asia has reached out to Caldera Pacific for comment.

The Caldera Pacific Fund I was initially targeted at USD 200 million in 2018, but it was later raised to USD 350 million, said the report.

Following the fund’s first close, it is expected to make its first investment in March this year, said the source, adding that the company plans to allocate around half of its Southeast Asia fund to Vietnam. The company will also reportedly invest in markets like Malaysia, Singapore, and the Philippines.

French investment group Argenthal, which mainly engages in real estate assets, is the firm’s anchor investor, revealed the source.

Caldera Pacific focuses on investing in small and medium-sized companies that target consumers and the emerging middle class across Southeast Asia. It currently has offices in Hong Kong, Singapore, South Korea, and Vietnam.

It’s already led a number of investments in Vietnam. In 2017, it led a USD 1 million pre-Series A funding round in local e-commerce startup Leflair. In partnership with financial investment firm Samsung Securities, it also acquired a 40% stake in Vietnam asset management company Dragon Capital—the stake was reportedly worth about USD 23.7 million.

This article first appeared in Tech in Asia