August Global Partners (AGP) has closed its second fund, the AGP Healthcare Fund (AGPHC) of $150 million, surpassing its initial fundraising targets. The Edge Singapore understands the fund’s initial target was $100 million.
According to AGP, the fund has secured commitments from a diverse base of financial, institutional and strategic limited partners from Asia, Europe and North America. The Singapore-based fund management company was spun out of EDBI in November 2023. EDBI is, in turn, the venture capital arm of the national economic promotion agency, the Singapore Economic Development Board (EDB).
Including its inaugural fund, the AGP Continuation Growth Fund (AGPCG), AGP now manages total assets under management (AUM) of $350 million.
AGPCG supports dynamic local champions in various sectors which include healthcare and deep technology, supporting their regional and global expansion ambitions, while AGPHC targets high-growth opportunities in healthcare, advanced manufacturing, digital health and precision medicine.
At the close of its fund, AGPHC has already deployed capital into a diverse portfolio of high-impact, growth companies delivering distribution to paid in capital (DPI) to its investors. To date, AGPHC has invested in over three deals including Gene Solutions and Ultragreen.AI, which recently lodged its preliminary prospectus with the Monetary Authority of Singapore (MAS) to list on the Singapore Exchange’s (SGX) Mainboard.
“AGP stands apart through our deep sector expertise, trusted global networks, and the commercial agility to navigate the complexities of the healthcare landscape,” says Chu Swee Yeok, chair and founding partner. “We are deeply grateful to our investors and partners for their continued confidence in our strategy and leadership."
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Dr Basil Lui, founding partner at AGP, sees the convergence of medical technology, digital health, artificial intelligence (AI) as well as Asia’s demographic transformation presents “unprecedented opportunities for innovation and growth”.
“AGP remains committed to a focused investment approach—partnering with exceptional founders and scaling platforms that address the urgent needs of preventive health, aging populations, chronic disease management, and the future of medicine across the region,” he says.
