TNB Aura launches Special Situations Fund, backing tech startups with US$2M each
SINGAPORE, April 7, 2020 /PRNewswire/ -- WHO declared COVID-19 a pandemic, its message balancing the inevitability of the virus' global ramifications, with the observation that governments, businesses, and individuals still possess the critical ability to alter the outbreak's trajectory. With businesses abruptly curtailing operations across most sectors, only a selected set of companies are well positioned to take advantage of the current situation, while the majority are not. Concerning the current situation, TNB Aura has launched a new Special Situations Fund, backing tech companies impacted by the pandemic with ~US$2M each.
"While we continue investing in growth companies in South East Asia via our first fund, and soon to be second, we see an opportunity to support great companies which are facing near-term cash flows issues as a result of the COVID-19 black swan event," Co-founder and Managing Partner, Vicknesh R Pillay commented. "Our highly selective and hands on approach to investing has proven resilient, reflecting as such in majority our portfolio companies. With our financial acumen, we assist our investee companies to be nimble in the manner in which they manage their cash flow, budgeting and talent optimization through volatility."
By providing an extended runway of 12-18 months to weather the headwinds, the fund serves to aid companies in returning their focus to achieving their targeted milestones. "We are investing for the long term, and seek to provide an encouraging narrative to the ecosystem at this critical time. Ultimately, we believe in strong fundamentals, and in the ability of selected companies to both weather the current storm and come out stronger on the other side," said Co-founder and Managing Partner, Charles Wong.
"With the market having previously witnessed a glut of over-valued deals, and today, a current value dislocation, TNB AURA is targeting value deals of high quality for this new fund," Pillay added.
TNB AURA aims to turnaround funding within 1-2 months, with the fund open to a range of funding structures such as convertible notes or direct equity. For all interested applicants, please apply through the Special Situations Fund Form. All applications will be dealt with, with the highest confidentiality.
About TNB Aura
TNB Aura is a Singapore headquartered venture capital firm focused on Series A and B technology investments in the region. Founded by entrepreneurs and fund managers who have established, grown and exited several businesses, TNB Aura looks to become the marquee venture capital fund in South East Asia. We believe in people and companies with strong fundamentals, and invest $1mil-$5mil into the next wave of technology-led high growth companies.
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