Go-Ventures rebrands itself as Argor, raises US$240 million

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Go-Ventures’ rebrand to Argor reinforces the investment firm’s strategic direction and independence as it targets high-growth startups across Southeast Asia.

Argor Capital Management Pte. Ltd. (“Argor”), an independent Southeast Asia-focused investment firm formerly Go-Ventures, announced its new name and the closing of its second flagship venture fund. Argor has raised US$240 million in committed capital for its second venture fund and separately managed vehicles.

Previously known as Go-Ventures

Previously known as Go-Ventures, Argor was established in 2018 with the backing of GoTo (then known as Gojek prior to its merger with Tokopedia) as an independent but ecosystem-linked investment firm. Argor invests in high-growth startups across the rapidly growing markets of Indonesia and the rest of Southeast Asia. The company closed its first flagship venture fund in 2020 with a total commitment of US$175 million. The first venture fund has invested in 19 companies in Southeast Asia, which have successfully raised follow-on funding from third-party investors subsequent to Argor’s initial investments, totalling US$1.4 billion to date. 

With the success of its first venture fund, a decision was made to rebrand as “Argor” to reinforce the investment firm’s independence and expanded capabilities to drive growth for its portfolio companies. The firm continues to maintain a close relationship with GoTo and its other limited partners.

Argor investor base expands

Argor saw its investor base expand meaningfully in this fundraiser. Argor’s second venture fund investors include leading sovereign wealth funds, institutional investors, corporates and family offices from Asia, the Middle East, Australia, Europe and the United States. Although GoTo remains an investor in Argor’s funds, Argor’s strategy and investment decisions continue to be independent of GoTo and other limited partners.

Over the past two years, Argor has rapidly expanded its investment and portfolio support capabilities with the addition of Siddharth Pisharody and Adrian Foo as partners and a three-fold increase in team size. New team additions include leading industry executives in areas such as technology, product, data science, talent and marketing. With the completion of its recent fundraising, Argor plans to deepen its impact on Southeast Asia’s technology ecosystem by investing in both early and mid-stage companies that address large and attractive market opportunities while driving significant societal impact.

Argor has already completed several investments out of its second venture fund, having invested in companies that span sectors such as verticalized B2B marketplaces, tech-enabled consumer businesses, SME digitization platforms, environment tech and embedded finance. 

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