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Dymon Asia

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Dymon Asia
Company typePrivate
IndustryInvestment management
Founded2008; 16 years ago (2008)
FounderDanny Yong
Keith Tan
Headquarters
Millenia Tower, 1 Temasek Avenue, Singapore
ProductsHedge fund
Private Equity
Venture Capital
AUMUS$5.7 billion (2022)[1]
Number of employees
170+[2]
Websitewww.dymonasia.com

Dymon Asia is an Asia-focused investment management firm based in Singapore. It is considered one of the largest hedge funds in Singapore and Asia.[2][3]

History

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Abax Dymon was founded in 2008 by Danny Yong and Keith Tan. Yong was founding partner and CIO of Abax Global Capital, a hedge fund based in Hong Kong that was part-owned by Morgan Stanley. He previously was a managing director at Citadel LLC and Head of Trading for South East Asian FX and Derivatives at Goldman Sachs.[3][4]

In August 2008, the Tudor Investment Corporation provided US$123 million of seed funding to Dymon Asia.[3][4]

In August 2009, the firm separated from Abax Global Capital and was renamed to Dymon Asia. It also stated accepting money from outside investors. Initially it relied on European investors for half of its money but later gathered capital from US investors and pension funds.[3]

In May 2014, Temasek Holdings invested US$500 million in Dymon Asia and also took a minority stake in the company.[5]

Business overview

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Dymon Asia is an investment firm that invests in both the public equity as well as the private equity markets.[3] It is headquartered in Singapore with additional offices in Hong Kong, Tokyo and London.[6]

Its flagship fund is the Dymon Asia Macro Fund which held US$2 billion assets under management and had a return of 37% in the first quarter of 2020.[3][1]

In 2020, the US$1 billion Dymon Asia Multi-Strategy Investment Fund was launched.[7]

Aside from the two funds above, Dymon Asia also runs a China Absolute return Bond fund and the Jadea Segregated Portfolio, a Greater China-focused long-short equity fund.[8]

Dymon Asia Private Equity

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In 2012, Dymon Asia Private Equity was founded as the Private Equity arm of Dymon Asia. It is focused on making investments in SME companies in Southeast Asia.[9]

Private Equity Funds

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Fund Vintage Year Committed Capital ($m)
Dymon Asia Private Equity (S.E. Asia) Fund[10] 2012 SGD 300
Dymon Asia Private Equity (S.E. Asia) Fund II[11] 2018 USD 450
Dymon Asia Private Equity (S.E. Asia) Fund III[1] 2022 USD 650

Dymon Asia Ventures

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In 2015, Dymon Asia Ventures was launched as the venture capital arm of Dymon Asia[12] and raised US$50 million in 2017 to invest in fintech companies.[13] In 2020, Dymon Asia Ventures was spun-off as a separate company to form Integra Partners.[14]

Notable investments include Capital Match[15] and QxBranch.[16]

References

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  1. ^ a b c "Southeast Asia-focused Dymon Asia PE closes third fund at $650m hard cap". DealStreetAsia.
  2. ^ a b "A Standard Chartered head has just joined a star Singapore hedge fund". eFinancialCareers. 28 August 2019. Retrieved 30 April 2021.
  3. ^ a b c d e f "Ex-Citadel Manager Boosts Dymon Hedge Fund Assets to $1 Billion - Bloomberg". 7 July 2011. Retrieved 15 July 2023.
  4. ^ a b hermes (2 May 2017). "Luck and gratitude a big part of the Dymon Asia success story". The Straits Times. Retrieved 30 April 2021.
  5. ^ "Temasek Invests in Dymon Asia to Start Hedge-Fund Platform". Bloomberg.com. 12 May 2014. Retrieved 30 April 2021.
  6. ^ "Contacts – Dymon Asia". Retrieved 30 April 2021.
  7. ^ "Dymon Plans New $1 Billion Asia Multi-Strategy Hedge Fund". BloombergQuint. 14 January 2020. Retrieved 30 April 2021.
  8. ^ "Others – Dymon Asia". Retrieved 30 April 2021.
  9. ^ "OVERVIEW". Dymon Asia Private Equity. Retrieved 30 April 2021.
  10. ^ Kumar, Nishant (29 October 2012). "Dymon launches private equity fund with Temasek unit's backing". Reuters. Retrieved 30 April 2021.
  11. ^ "Dymon closes DAPE II, raves about gains". Bangkok Post. Retrieved 30 April 2021.
  12. ^ "Singapore InsurTech Directory" (PDF). Retrieved 13 February 2023.
  13. ^ "Dymon Asia announces first close of its debut $50M fund for fintech". TechCrunch. 9 March 2017.
  14. ^ DiBiasio, Jame (27 January 2021). "Will VC continue to back lending platforms?". Digital Finance. Retrieved 9 June 2021.
  15. ^ "SESAMi merges with Capital Match with funding from Dymon Asia, OSK Ventures". sg.news.yahoo.com. 7 November 2018.
  16. ^ "Morgan Lewis Advises Quantum Computing Software Leader QxBranch in $4.1 Million Financing". www.morganlewis.com.
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