Since 2012, it has backed 180+ companies, of which 160+ (85%) are in enterprise, deep tech and/or sustainability. Wavemaker has been around for a decade, working hand in hand with founders to create opportunities in Southeast Asia. We are hopeful that they will inspire a new generation of entrepreneurs to launch meaningful, scalable, and sustainable businesses across Southeast Asia," said Paul Santos, Managing Partner of Wavemaker. Their homegrown digital fishing cooperative is the first-of-its-kind in the world, and they've already managed to uplift the lives of more than 40,000 farmers. Against the odds and with little fanfare, they're showing that it is possible to build a high-growth, high-impact, and high-margin startup. "We invested in eFishery in 2018 and have been consistently impressed by what Gibran, Chrisna, and their team have accomplished. D.A.Wavemaker won VC Deal of the Year with eFishery, Indonesia's largest digital cooperative for fish and shrimp farmers that entrepreneurs Gibran Huzaifah and Chrisna Aditya founded in 2013 to solve the problems of the country's US$10 billion-per-year aquaculture production market. Shares in Xurpas added 0.13 points or 13.27% to close at P1.11 apiece on Wednesday. The deal with Xurpas does not include Wavemaker’s Southeast Asia practice. ![]() “The deal is expected to be completed by the first quarter of 2020, pending satisfaction of certain conditions and securing shareholder approvals… The Wavemaker US General Partners will continue to run, operate and control the fund,” the company said. The two companies are expected to sign a memorandum of agreement immediately and definitive agreements within 120 days.Īlso, the general partners of Wavemaker is subscribing to 1.7 billion unissued shares in Xurpas, which translates to a 48% stake in the company. We look forward to leveraging Xurpas’ access to the public markets, creating global scale and delivering outstanding investment returns.” Nolledo said in a statement.įor his part, Wavemaker US founder Eric Manlunas said: “Despite our already rapid growth during the last several years, we intend to further grow Wavemaker US’ assets exponentially in the next 5 to 7 years and this partnership with Xurpas will enhance our chances of achieving that. ![]() “This acquisition brings forward our vision of expanding Xurpas’ technology mandate and gives our shareholders access to promising venture-backed early-stage companies in the US and globally…Through Wavemaker US, Xurpas shareholders can now participate in the significant potential upside from investments in the early-stage technology space,” Xurpas Chairman Nico Jose S. Wavemaker US is a 17-year-old technology fund with a focus on high impact tech areas such as enterprise software, data and intelligence platforms and other technology-enabled companies in digital media and consumer. approved the purchase of 100% equity interest in Wavemaker Partners US, a venture capital management firm based in Los Angeles with approximately $210 million of assets under management at a purchase price of approximately P170 million,” the company told the stock exchange on Wednesday. ![]() is acquiring a Los Angeles-based venture capital firm Wavemaker Partners US, which at the same time will get a 48% stake in the listed Philippine company.
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