The Rise of Emerging Managers
Featured Article
As Southeast Asia’s private capital landscape matures, attention is shifting to a new breed of fund managers - emerging, entrepreneurial, and often diverse. These emerging managers, whether first-time fund managers or spin-outs from established firms, are playing an increasingly important role across venture capital, private equity, and private credit.
LP Perspective
Donato de Donato, MD and Co-Head of GP Strategic Advisory at DC Advisory
Across the market as a whole, how do LPs expect the number of private market managers to change over the next 3 - 5 years?
“It may seem counterintuitive, given the overpopulation of the private equity world, but new firms are constantly being created as teams spin out of larger organizations…The reason is that many LPs view emerging managers as greatly incentivised to deliver exceptional returns and they also often have a highly differentiated strategy.”
Fund Managers to Watch
Meet the emerging fund managers driving Southeast Asia's early-stage investing
Joel Neoh
Founding Partner
First Move
First Move is a Malaysia-based early-stage venture capital firm backing AI-native and consumer-focused startups across Southeast Asia. In 2025, the firm secured Jelawang Capital as a key anchor LP to bolster its inaugural fund, a move that underscores growing domestic support for frontier technology and signals First Move’s ambition to build enduring infrastructure for the region’s next generation of AI builders.
Virginia Tan
Founding and Managing Partner
Teja Ventures
Teja Ventures is Asia’s first gender-lens venture capital fund that places the female economy at the core of its investment thesis. With a unique focus on women as early adopters and drivers of consumer behavior, Teja backs companies shaping the future of consumption from food and wellness to circular and creator economies.
Sweta Rau
Founder and General Partner
White Venture Capital
White Venture Capital is an early-stage, Singapore-headquartered venture capital firm founded by fintech veterans with a mission to back operator-led startups in Southeast Asia and India. Focused on pre-seed to pre-Series A stages, the firm brings hands-on support with a strong network across financial services and tech to help founders scale from zero to one.
Insights
RESEARCH
Women of Influence: Setting the Industry Alight
Private Equity International
October 2025
This special Private Equity International edition report shines a spotlight on the Women of Influence Class of 2025, celebrating female leaders across asset classes, from venture capital to infrastructure and real estate. The report also presents updated data on gender representation within private capital firms and explores how LPs are increasingly prioritizing diversity, culture, and leadership in manager selection.
RESEARCH
Emerging Manager Report
Private Equity International
December 2024
Jointly published by Gen II, this Private Equity International report studies the growing role of emerging managers in today’s fundraising environment, highlighting how first-time and early-vintage funds are navigating tighter capital markets. The report explores why emerging managers are increasingly attractive to LPs seeking alignment, specialization, and alpha, particularly through smaller fund sizes, sector specialization and greater GP alignment.
Upcoming Events
SVCA Annual Conference 2026 - Building Bridges in a Volatile World
5 February 2026, Singapore
Organized by the Singapore Venture & Private Capital Association (SVCA), this year’s flagship conference is themed “Building Bridges in a Volatile World.” The event brings together leading GPs, LPs, and ecosystem players across Asia to discuss capital flows, cross-border collaboration, and strategies to navigate macro uncertainty. Expect thought-provoking panels, high-level networking, and timely discussions on the role of emerging markets and managers in shaping the region’s private capital future. More details here.
11 - 13 May 2026, New York
The 2026 Global Private Capital Conference is hosted in partnership with IFC to bring together lead investors, deal makers, entrepreneurs and development finance players from growth and venture markets across Asia, Latin America, Africa, Central & Eastern Europe and the Middle East. Explore capital allocation trends, macroeconomic shifts, and the evolving role of private capital at the Summit. Save the date and register here.
Global Private Capital Conference 2026
Jelawang Capital: Emerging Fund Managers Programme (EFMP)
January - December 2026, Malaysia
Jelawang Capital has launched the EFMP to support Malaysian VC fund managers (at least 30% shareholding by a Malaysian key person) raising their first, second, or third fund. The program offers capacity-building, access to potential capital providers, and strategic guidance for high-potential managers looking to scale. Applications are currently open - find out more here.
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This publication has been funded by the Australian Government through the Investing in Women initiative. The views expressed in this publication are the author's alone and are not necessarily the views of the Australian Government.