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Singapore's Vickers Venture targets $500 mln fund late-2018, eyes biotech, nanotech, AI

From Reuters - January 4, 2018

KUALA LUMPUR (Reuters) - Singapore-based Vickers Venture Partners is looking to raise its largest fund yet of up to $500 million later this year as it seeks to increase investment in biotechnology, nanotechnology and artificial intelligence (AI), said its chairman, Finian Tan.

The venture capital firm is already looking for investors to participate in its Fund VI, Tan said in an interview.

Its not so soon (but) we are soft-marketing right now, looking for anchor investors for our new fund, he told Reuters.

At $500 million, Fund VI will be one of the largest venture capital funds to be raised in Southeast Asia.

Singapore-based venture capital firms, which benefit from government incentives, have enjoyed robust fundraising in 2017. Fundraising in the island city has attracted foreign investors ranging from family offices to corporate backers who want a finger in the technology investment space.

Vickers adopts a largely non-thematic strategy globally but is keen to ride on the growth it sees in biotechnology, nanotechnology and AI, Tan said.

In these three megatrends, if you follow them and invest in them, the growth will be exponential, he said.

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