The firm, which reinvests its profits into its philanthropic ventures, is armed with an initial $100 million that it will use to invest in startups in the region.
Vulcan Capital, the investment arm of Vulcan, which manages the late Microsoft co-founder Paul Allen's estate, has opened its first international office in Singapore.
The Seattle-based firm invests in both public and private companies that mirror the philosophy of Allen and Vulcan, and reinvests its proceeds into Vulcan's philanthropic ventures, which include climate change, artificial intelligence, wildlife conservation and more.
The firm plans to invest an initial $100 million in the seed, Series A and Series B rounds of Southeast Asia startups working in areas like consumer internet, financial services and real estate technology startups, which would make it one of the largest early-stage platforms in the region, the firm said in a statement.
«Most of our investments have been focused across North America and we're looking forward to deepening our relationships with entrepreneurs across Asia as well, beginning here in Singapore,» said chief investment officer Chris Orndorff in the statement.
New Hires
The Singapore office is being built from the ground-up, and will be led by managing directors Tommy Teo and Minjie Yu, Vulcan Capital said.
Tommy Teo, managing director and head of Southeast Asia, Vulcan Capital.
Teo (pictured above) was most recently an executive director at venture capital and private equity firm Northstar, where he worked for six years. Prior to the, he held various roles in Citi, Perella Weinberg, Capital Z and Bear Stearns, according to his LinkedIn profile.
Yu was a partner at Ethos Partners, a Singapore headquartered venture capital firm, where he focused on early-stage technology and growth opportunities in Asia. He was also an associate director at Dymon Asia Private Equity, and held roles at Primus Capital and Morgan Stanley in Hong Kong, according to his LinkedIn profile.
Philanthropic Approach
Vulcan Capital has invested in 4INFO, Alibaba Group, Charter Communications, DreamWorks, Magic Leap, Redfin and Tri Alpha Energy, Uber and more, its website said. The company is led by CEO Bill Hilf, who succeeded Allen in 2016.
«Unlike most venture capital firms, we're taking our returns and putting them directly into saving Africa's most endangered wildlife, fighting #climatechange and protecting the world's coral reefs,» the firm said on Twitter, while announcing the Singapore office.
Allen died in 2018 aged 65, two weeks after announcing that he was diagnosed with a recurrence of non-Hodgkin’s lymphoma. He left behind a fortune of $26.1 billion.
«Bloomberg» noted that Vulcan is shifting from a management company to an estate trust, which is expected to take years due to the complexity of Allen’s investments throughout his life.
