Allen Single Family Office Will Invest $100M In Singapore And Southeast Asia

paul allen single family office invests in singapore

Paul Allen co-founded Microsoft together with Bill Gates in 1975. Before his death in 2018, his net worth was estimated at $20BN. Allen’s investments, holdings and philanthropic efforts are managed through the Vulcan Inc. family office. Vulcan recently announced to open a new office in Singapore – and to invest $100M in Southeast Asia-based tech startups.

Investing in Southeast Asian Tech Startups

According to Vulcan’s CEO Bill Hilf, the investment company carefully analyzed Singapore as a location for the investment office. The new hires Tommy Teo and Minjie Yu will lead the Singapore office of Vulcan, which aims to invest in promising tech startups in Southeast Asia. Teo has a Bachelor of Business Administration from the University of Michigan and formerly worked as Investment Banker for Citi and as Executive Director for the private equity fund Northstar. Yu was a partner for Ethos Partners, a Singapore-based VC fund, and also has a degree in Industrial Engineering from the University of Michigan.

Family Office With Philanthropic Focus

The Allen family office Vulcan differs from other family offices: realized returns are mainly used for philanthropic purposes. Vulcan focuses on six main areas: Ocean Health, Conservation, Climate Change, Smart Cities, Global Health and an Ebola Program. For example, Allen was (through Vulcan) the largest private donor for tackling the Ebola Crisis in West Africa with donations of at least $100M. The recently launched $100M Southeast Asia-focused venture capital is only a small part of the Vulcan portfolio. Other investment areas are Real Estate, Capital Investments and Sports Investments. The Real Estate portfolio is worth $2B with several objects in the Seattle area.

Sources
Bloomberg, 29.08.2019
Vulcan, 29.08.2019
Peter Nguyen, 29.08.2019

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