Tin Men Capital completes the first close of second fund, focusing on B2B investment in SEA

Syifa, news . 12 Sep 2022
Tin Men Capital (TMC)

Heaptalk, Jakarta — Tin Men Capital (TMC), a Singapore-based venture capital firm, announced has closed the first fundraising of its second enterprise technology fund with an undisclosed amount. Following the success of the previous fund, launched in 2018, this new fund will continue the initial fund’s vision of investing in the B2B technology startups in South East Asia.

Tin Men firm will focus on software companies that primarily address underserved and under-digitized industries. This company observes that SEA’s companies provide several areas whereby technology will play a critical role in leveling up legacy businesses, which have historically relied on massive capital investments and large workforces. Realizing capital and labor come under pressure, numerous industry leaders and government authorities considered technology adoption a proper way to tackle the issues.

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Co-Founder of Tin Men Capital, Jeremy Tan, affirmed, “We have achieved significant success while doubling down on innovation and operational growth in an area that is often overlooked, namely the untapped opportunity of B2B technology businesses. The partnerships we have built with investors, team members, founders, and CEOs of our portfolio companies are the driving force behind Tin Men. This fundraising continues as we expand the team still further,”

Several startups that addressed such opportunities had discovered multiple driving factors, including long-term contracts with established businesses, high gross margins as infrastructure expenses have plummeted with widespread cloud adoption, and increasing customer desire to adopt digital technologies.

At the same time, the vast majority of venture capital has been disbursed toward B2C companies, granting chances for this Singapore’s capital firm to step in to support B2B founders as the capital only is not sufficient for B2B founders. South East Asia is a rapidly maturing region. Yet, numerous founders still seek guidance from their investors to overcome high-level governance matters, determine how to scale up their teams, build out their go-to-market efforts, systemize their internal processes, and attract later-stage investors and future acquirers.

“Through several years, Tin Men Capital firm has been able to systematically scale in delivering value to our entire stakeholders. Jeremy and I have a shared ambition of building out an institution with longevity. The deep ecosystem we have in place across our network of investors, founders, startup executives, channel partners, and backers from government authorities is core to this. John will play a critical role in further development,” Tin Men Capital’s Co-Founder, Murli Ravi, said.

As the firm continues to institutionalize and create its leadership for the next enhancement stage, Tin Men Capital has appointed John Tay as Partnership lead. With his exceptional experience in the startup and government sector, John’s appointment is believed to boost further strategic partnership of Tin Men Capital with diverse stakeholders, particularly in South East Asia’s technology ecosystem enterprises.