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Axiom Asia closes its first Asia-focused fund of funds22/03/2007. Source: AltAssets. 
 Singapore-headquartered Axiom Asia Private Capital Pte has closed its first Asia-focused fund of funds, Axiom Asia Private Capital Fund I, on $440m. The fund had an original target of $350m.
Investors in the fund include endowments, foundations, pension funds, financial institutions and family offices based in the US, Europe, the Middle East and Asia. The lead investors are the William and Flora Hewlett Foundation and Comprehensive Financial Management.
Axiom co-founder ewhong Goh said, 'A significant proportion of our LPs are endowments and foundations who do not typically invest in a fund of funds, but are making an exception for Asia.'
Axiom was founded by Chihtsung Lam, Yewhong Goh and Edmond Ng in April 2006. They were subsequently joined by Marc Lau.
'We realised there was an opportunity for someone to become the market leader in a new space - the independent Asian private equity fund of funds segment,' said Chihtsung Lam. 'We observed in the 1990s the emergence of the European fund of funds segment, and believed that there was a similar opportunity for Asian fund of funds today. We realised that we were fortunate to be in a fairly unique situation, as a senior team who had previously worked together in one of the region's leading private equity institutions.'
Axiom focuses on fund investments in buy-out, venture capital and growth capital opportunities in the Asia Pacific Region.
Copyright © 2007 AltAssets
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