27/2/2018 – Dymon Asia PE, the investment arm of Dymon Asia Capital (Singapore) is likely to close its second PE fund at between US$420 to US$430 million. This follows the first close of its second vehicle – Dymon Asia Private Equity (SE Asia) Fund II – at US$325 million in December 2017.
The PE firm’s first fund, Dymon Asia Private Equity (SE Asia) Fund was launched in October 2012 and has achieved a final close of S$300 million (about US$246 million) with the backing of Heliconia Capital Management, a wholly owned subsidiary of Temasek Holdings.
Dymon Asia PE invests in profitable small and medium enterprises (SMEs) in Singapore and the Southeast Asia region which has revenues ranging from S$10 to S$500 million. The fund also invests in all sectors except real estate, resources, and technology startups.
Investments by Dymon Asia Private Equity (Southeast Asia) are usually structured as buyouts, growth capital, recapitalization or through hybrid instruments.
Among its investment portfolio include pre-school operator Nurture Education Group, wallpaper and furnishing products distributor Goodrich Global, food service provider Select Group, and vegetables and fruit snacks brand Greenday Group.
The fund has so far also made one exit in 2016 through its investment in healthcare facilities management firm Asia Integrated Facility Solutions.
Co-founded in 2008 by Keith Tan and Danny Yong, Dymon Asia Capital currently manages US$5 billion across hedge fund, private equity, and venture capital assets. This includes the $500 million Dymon Manager Solutions Group established in 2014 which primarily focuses on creating equity-based strategies
In related news, Dymon Asia Capital recently acquired a 6.86 percent stake in Singapore-listed small and medium enterprises financing company IFS Capital Ltd to become a substantial shareholder. It also launched the APTA investments Fund as a separate vehicle in January 2018.