SINGAPORE (July 21): Venture capital (VC) firm Vickers Venture Partners says it has achieved the first close of its Vickers Venture Fund V L.P at $86 million out of its target fund size of $340 million, with a cap of $540 million. 

In a Thursday announcement, Vickers Venture Partners says this is the fifth fund it has raised, and it is “set to be largest fund to be raised by a Singapore-based VC firm”.  It adds that the investors currently reviewing its fund include global banks, funds of funds, sovereign wealth funds, family offices and endowments.

Finian Tan, chairman of Vickers Venture Partners, says he is “pleased” with the first closing results, and will commence investing from the fund even while the firm completes its fund raising process over the next 12 months.

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