TOKYO -- A French private equity group that backs Singaporean superapp Grab has launched a 200 million euro ($215 million) fund targeting insurance technology startups in Southeast Asia, in a sign that some investors are deepening their foothold in the region despite a market cool-down.
Paris-listed Eurazeo, which has 32 billion euros in assets under management, recently completed fundraising for the vehicle with commitments from a major insurance company. It has appointed Albert Shyy, former managing director of Asia for the investment arm of European media company Hubert Burda Media, as managing director of its Singapore office, which is in charge of the new fund.
