Fundraising Fox

Wavemaker Partners

Singapore · Seed–Series A · 19 people tracked

Fox Verdict
Sign up to see your fit

Investment thesis

Wavemaker Partners pursues a partnership-oriented investment approach focused on early-stage startups in enterprise, deep tech, and sustainability sectors across Southeast Asia. The firm combines capital deployment with hands-on operational support and business development assistance to help founders scale their companies. The firm emphasizes working as a trusted strategic partner through both favorable and challenging periods, leveraging its team's entrepreneurial experience and regional expertise to create measurable impact alongside financial returns.

Source: firm website, verified Jul 20, 2026.

Stage
Seed–Series A
HQ
Singapore, SG
Leads rounds
Leads
Founded
2012
AUM
$500M
Tracked investments
29

Team · 19 people

from the firm's website
Eric Manlunas· Co-founder and General Partner

Co-founder and General Partner of Wavemaker Partners. Career includes founding Interfoods, Sitestar, and Frontera Group (Wavemaker's predecessor), and making over 200 investments, eight of which became unicorns. Recently co-led acquisition of 2XU, a global sports apparel brand.

Paul Santos· Co-founder and Managing Partner

Co-founder and Managing Partner of Wavemaker Partners. Santos has been instrumental in identifying and supporting transformative founders across Southeast Asia, known for his strategic vision in connecting infrastructure investments with financial services and deeper platform opportunities.

Paul Santos· Co-founder and Managing Partner

Co-founder and Managing Partner of Wavemaker Partners, leading Southeast Asia's early-stage venture capital firm since 2012 with over $500 million in committed capital. Previously co-founded six companies and worked as a product manager at Procter & Gamble.

Andy Hwang· General Partner

General Partner leading Wavemaker Ventures and overseeing corporate innovation initiatives. Former regional leader at Facebook, Google, and Stripe with extensive experience in Asia-market expansion and high-growth business scaling.

Joel Ang· Principal, Investment

Investment principal and co-leader of Wavemaker's investment team since 2016, specializing in deep tech and hardware opportunities. Previously worked at PwC's M&A Advisory and Singapore's government-backed venture capital firm.

John Wisnioski· Principal, Investment

Investment principal with a decade of high-growth startup experience including leadership at Skuad (acquired by Payoneer), Horangi Cyber Security (acquired by Bitdefender), and JD.ID. Leverages operational expertise to source and scale investments across Singapore, Australia, and New Zealand.

Junius Said· Vice President, Investment

Vice President of Investment focused on sourcing, due diligence, and deal evaluation with particular expertise in retail, supply-chain, and fintech sectors in Indonesia. Previously worked as a consultant at EY Indonesia on M&A and strategic advisory.

Manuel Ravago· Principal, Portfolio Management

Principal overseeing the Portfolio Management Team and Information Systems. Previously served as Head of Research for Wavemaker and held roles as Research Director for regional IT advisory and Research Manager for IDC.

Phuong Tran· Principal, Investment / Head of Vietnam

Principal and Vietnam market lead, formerly a founding member of VinaCapital Ventures where she sourced and executed seed and Series A investments. Named to Forbes 30 Under 30 Vietnam in 2022.

Belle Naval· Analyst, Portfolio Management

Analyst managing portfolio company selections and conducting portfolio tracking and analysis. Previously interned with Foxmont Capital Partners' investment team on deal sourcing and due diligence.

Camille Escalante· Senior Associate, Portfolio Management

Senior Associate managing portfolio company selections and providing cross-functional support across investor relations, finance, and investment teams. Previously worked in Procter & Gamble's external reporting team in Pakistan.

Chris Le· Associate, Investment

Associate involved in deal sourcing, due diligence, and investment proposal preparation. Previously worked at Generali Life Insurance and gained tech startup experience in Vietnam at VNG and Coderschool.

Janelle Dy· Analyst, ESG

Analyst conducting ESG due diligence for new and follow-on investments and managing ESG dashboards and DFI audit processes. Previously interned at Nestlé on corporate sustainability and circular economy initiatives.

Micah Tanjuatco· Associate, Portfolio Management

Associate managing portfolio companies and co-administering the firm's information systems. Previously worked as an equity research analyst at CLSA and product manager for wealth management at GCash.

Paolo Manlunas· Analyst, Investment

Analyst contributing to deal sourcing, evaluation, and investment proposal preparation. Previously worked in business development at the Professional Fighters League focusing on data strategy and geographic expansion.

Sam Tongco· Associate, Portfolio Management

Associate managing Wavemaker's databases and systems, creating automations and process improvements for cross-functional workflows. Passionate about data and AI optimization of organizational systems.

Shannon Tan· Senior Associate, Investment

Senior Associate supporting investments across Singapore, Malaysia, Australia, and New Zealand. Works with founders on strategy, go-to-market execution, and fundraising, with a track record of supporting successful exits through acquisition and IPO.

Yanna Arcilla· Associate, Investment

Associate covering the Philippine market, engaged in deal sourcing, evaluation, due diligence, and investment proposal preparation. Previously interned with the Philippine government's Department of Finance on oversight and public-private partnerships.

Ysabela Narvasa· Senior Associate, ESG

Senior Associate developing and integrating Wavemaker's ESG practice and implementing environmental and social management policies. Previously led special projects on sustainability and social impact, and recently earned the CFA Institute Certificate in ESG Investing.

What they invest in

from 13 of 29 portfolio companies

Enterprise Software ×6AI & Machine Learning ×4Fintech ×4SaaS ×3AgTech ×2Cleantech ×2Climate Tech ×2Data & Infrastructure ×2

HQs:Indonesia×3Singapore×2New Zealand×1Philippines×1Pakistan×1

Investments · 29 tracked

founders shown can be your intro path
Glintsglints.com✓ verified

Glints operates a talent ecosystem platform in Southeast Asia that connects job seekers with employment opportunities and enables organizations to recruit talent across the region. The platform provides career discovery, skills education, job search, and recruitment solutions for professionals and employers across Indonesia, Malaysia, Singapore, Vietnam, Philippines, China, Hong Kong, and Taiwan.

B2B MarketplacesHR TechMarketplacesSingapore, SG

Ying CongOswaldQin En

17hats17hats.com𝕏

17hats is a cloud-based business management platform that automates workflows and client management for service-driven small businesses. The platform helps entrepreneurs across more than 100 different business types streamline operations and reduce administrative overhead.

Cloud ComputingEnterprise SoftwareFuture of WorkSaaS

Donovan Janus

Atomionics
Bifrostbifrost.aiin

Bifrost provides GPU-accelerated simulation and synthetic data generation for physical AI systems, enabling teams to train, test, and evaluate robotic and autonomous systems using photorealistic, multi-modal sensor data.

AI & Machine LearningDeep TechRoboticsSingapore, SG

ChemT Biotechnology

AI-driven biotechnology company building intelligence layer for biomanufacturing using virtual cell platform CelMo.

CrediBookcredibook.comin𝕏

CrediBook digitizes small and medium enterprises in Indonesia through integrated business tools. The platform serves MSMEs with software solutions for business management and expansion.

E-commerceEnterprise SoftwareFintechSaaSJakarta, ID

Gabriel Frans(Founder)inDekha Anggareska(Founder)inChristian Lie(Founder)in

DataMasque

Sensitive data discovery, de-identification, and synthetic data platform enabling enterprises to safely use sensitive data for AI training and analytics.

EcoSpirits

Low-carbon, low-waste packaging system for premium spirits and wine with presence across 25 countries.

Ematic Solutionsematicsolutions.comin

Ematic Solutions is a digital marketing consultancy that helps companies adopt and implement marketing technologies and end-to-end services. The firm serves businesses of all sizes across multiple industries and operates a global team of marketing, technology, and data specialists.

Enterprise SoftwareMarketing TechSaaS

Growsari

B2B marketplace providing family-owned stores in the Philippines direct access to manufacturers and FMCG products with integrated financial services.

Hydroleaphydroleap.comin

Hydroleap develops electrochemical water treatment technology that replaces traditional chemical-intensive processes for wastewater treatment across industries including data centers, food and beverage production, and pharmaceuticals. The company serves industrial businesses seeking cost-effective and sustainable alternatives to conventional water treatment methods.

AgTechCleantechClimate Tech<UNKNOWN>

Intriniointrinio.com

Intrinio provides normalized and standardized financial market data designed for AI-powered applications and models. The platform serves financial software developers and enterprises building AI-driven finance products, offering real-time and historical data via APIs, SDKs, and WebSocket streams.

AI & Machine LearningData & InfrastructureFintech

Lhoopa

Affordable housing developer addressing Southeast Asia's housing shortage.

LiveIn

Long-stay co-living platform in Southeast Asia with nearly 10,000 rooms under management.

Luxola

Beauty e-commerce platform in Southeast Asia, acquired by LVMH in 2015 and rebranded as Sephora Digital.

Mushroom Materialmushroommaterial.comin

Mushroom Material develops sustainable packaging materials from mycelium. The company serves customers seeking alternatives to conventional plastic packaging.

AgTechCircular EconomyCleantechClimate TechNew MaterialsAuckland, NZ

Shaun Seaman(CEO)Jotinder Singh(CO)Paul Guinibert(CTO)

Novade
Oraanoraan.com

Oraan is a digital platform offering sharia-compliant rotating savings committees (committees) for Pakistani women and households, enabling members to save collaboratively with transparent transactions and financial coaching through a mobile app.

FemTechFintechPakistan, PK

Ridwan Hafiz
Scubascuba.ioin𝕏

Behavure AI provides a behavioral intelligence platform for enterprises to monitor, explain, and control AI systems, agents, and LLMs in real time. The platform offers visibility into how AI systems make decisions across users, infrastructure, and data pipelines, addressing the AI black box problem through event-level intelligence and compliance governance.

AI & Machine LearningData & InfrastructureDeveloper ToolsEnterprise Software

Ann Johnson(Founder/CEO)inBobby Johnson(Founder/CTO)inTony Ayaz(Co-Founder (CEO))Chris Dolan(Co-Founder (CTO))

Shipmatesshipmates.appin𝕏

Shipmates provides a platform for Philippine e-commerce merchants to book shipments with multiple courier partners through bulk uploads or Shopify integration. The service handles on-demand and scheduled deliveries, cash-on-delivery options, and automated courier pickups to reduce manual shipping overhead.

Enterprise SoftwareLogistics & Supply ChainMakati, PH

David Marquez(Founder/CTO)inJosh Supan(Founder)in

Silent Eight

Financial crime detection and prevention platform working with major global banks and insurance companies.

Sirkasirka.ioin𝕏

SIRKA is Indonesia's first metabolic clinic offering personalized weight management and health treatment through online consultations and in-clinic visits, with medications delivered directly to patients' homes. The service targets individuals seeking professional weight loss and metabolic health management with expert medical supervision.

Digital HealthHealthtechWellness & FitnessJakarta, ID

Ditto R(Founder)inDito Krista(Founder)in

Sprout Solutions
TradeGecko

Inventory and order management platform for wholesale and retail SMEs, acquired by Intuit in 2020.

Verihubsverihubs.comin𝕏

Verihubs is an AI-powered identity verification and risk decision platform that helps businesses verify identities, reduce fraud, and enable secure digital onboarding. The platform serves companies across multiple industries, with particular strength in Indonesia.

AI & Machine LearningCybersecurityDeveloper ToolsEnterprise SoftwareFintechJakarta, ID

Watchtowr

Offensive cybersecurity and penetration testing platform protecting enterprises against cyber attacks.

Wavecell

Hyper-personalized customer communications platform for enterprises, acquired by 8×8 in 2019.

ZUZU

Frequently asked questions

What stage does Wavemaker Partners invest at?
Wavemaker Partners invests at the Seed, Series A stages.
What sectors does Wavemaker Partners focus on?
Wavemaker Partners focuses on Deep Tech, Enterprise Software, Impact & Social Good.
Where is Wavemaker Partners located?
Wavemaker Partners is headquartered in Singapore, SG.
Does Wavemaker Partners lead rounds?
Yes, Wavemaker Partners leads investment rounds.

Similar investors

Featured in lists