Singapore blue-chip veteran to raise funds for new venture firm

Altara Ventures is launching as China’s tech behemoths expand into South-East Asia in the face of growing hostility from the United States and other major markets. Tencent Holdings Ltd has picked Singapore for its beachhead beyond China, joining rivals Alibaba Group Holding Ltd and ByteDance Ltd in the race to build up a global presence closer to home.

SINGAPORE: Koh Boon Hwee, one of Singapore’s prominent executives, is teaming with four fellow investors to try and raise US$100mil for a new venture firm targeting South-East Asia.

Koh, former chairman of DBS Group Holdings Ltd and Singapore Telecommunications Ltd, and his partners think the time is right to start a new venture capital firm, despite challenges from the coronavirus pandemic. They’ll target early-stage investments in fintech, consumer internet, enterprise software, logistics, healthcare and education.