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Singapore's Growtheum Capital closes debut fund at $567m

Amount comes in tad below target in trying time for global fund managers

Growtheum Capital Partners has bet on a range of promising startups in Southeast Asia and India. (Source photo by AP and logo from Growtheum Capital Partners' website)   © AP

SINGAPORE -- Singapore-based private equity firm Growtheum Capital Partners has secured the final close of its debut fund at $567 million, just shy of its initial target of $600 million to $800 million.

The fund's close takes place in a trying time for fund managers globally, who are receiving a cold reception from limited partners (LPs) and have turned cautious since U.S. public markets reversed last year. This has led to fund closing delays and smaller fund sizes for many general partners (GPs) in Asia and around the world.

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