Nurturing the next
Wave of tech leaders
in Southeast Asia
Nurturing the
next Wave of
tech leaders in
Southeast Asia
Scaling
the future
As the Growth Fund of Wavemaker Partners, we leverage the success of our Early-Stage Fund to capitalise on high-potential opportunities in Enterprise, Deep Tech, and Sustainability. Our mission is to bridge Southeast Asia’s Series B and later-stage funding gap, empowering companies to scale and create lasting impact.
Net Promoter Score from our founders
startups, limited partners, co-investors, corporates and other institutions in the Wavemaker community
Strengthening
long-term
partnerships
Strengthening long-term partnerships
At Wavemaker Growth, we are committed to fostering trusted, long-term partnerships. We align closely with founders, providing ongoing strategic support and access to Wavemaker's extensive network of partners. Our goal is to guide them through their growth journey and help them achieve their next stage of success.
Empowering founders
with proven
expertise
Empowering founders
with proven expertise
With decades of collective investment and late-stage operational experience, our team and board bring valuable insights to help companies further scale, strengthen corporate governance, and prepare for successful exits. We are more than just investors; we are partners in driving sustainable growth.
Xue heads the investment team for Black Kite Capital, a Singapore-based single family office. He manages a diversified portfolio across multiple asset classes, from public equity to early-stage direct investments into angel, pre-seed, and seed stage companies.
Prior to Black Kite Capital, Xue honed his investment acumen at Silver Lake, one of the largest technology-focused private equity buyout firms. He worked closely with Silver Lake’s portfolio companies as an operator in Silicon Valley and subsequently opened Silver Lake’s Singapore office and led their Southeast Asia practice from 2020-2023.
Xue began his career as a Consultant with the Boston Consulting Group in San Francisco. Xue graduated with distinction from Stanford University with a BS and MS in Chemical Engineering.
Xue Koh
Founding Partner
Shiv Choudhury is one of the Co-Founders of Growsari and a Partner at Wavemaker. Previously, he served as Managing Director at The Boston Consulting Group (BCG) and held multiple regional leadership roles at Procter & Gamble (P&G). With over a decade of experience leading the Consumer and Retail practice in ASEAN, he is a seasoned entrepreneur, investor, and advisor. He is also a member of YPO and a 2X Endeavor Outlier.
Shiv Choudhury
Founding Partner
Successfully exited three tech companies
Paul Santos is Co-founder and Managing Partner of Wavemaker Partners, Southeast Asia’s leading VC firm investing in early-stage Enterprise, Deep Tech, and Sustainability startups. Since 2012, Wavemaker has backed 200+ companies across the region, with over US$500 million in total committed capital and exits generating over US$2 billion in enterprise value. Notable portfolio companies include Growsari, Lhoopa, and Silent Eight. Paul is also one of the founding partners of Wavemaker Impact, a US$60 million venture-building fund in Southeast Asia, and Wavemaker Growth, Wavemaker’s Growth Opportunities Fund, with a US$30 million first close. Paul was recently appointed to the Enterprise Singapore board, and is currently part of the Monetary Authority of Singapore’s Enterprise and Markets Workstream.
He also previously chaired the investment committee of the Asian Development Bank’s inaugural venture fund focused on climate tech. Before starting Wavemaker Partners, Paul was an entrepreneur who co-founded six companies and sold three. He started his career as a product manager at Procter & Gamble. He holds a B.S. in Management Engineering from the Ateneo de Manila University, along with a Joint Minor in International Management with the University of Antwerp.
Paul Santos
Founding Partner
Successfully exited three tech companies
Wen Ge is an investor at Wavemaker Partners, where he focuses on growth-stage opportunities. He is also one of the co-founders of Sealed Network and previously served as its COO and CFO. Prior to Sealed, he was with Wavemaker’s Ventures team, backing early-stage startups. Wen Ge graduated summa cum laude from Singapore Management University with double degrees in Business Management and Accountancy.
Wen Ge Leo
Vice President
Successfully exited three tech companies
Wen Ge is an investor at Wavemaker Partners, where he focuses on growth-stage opportunities. He is also one of the co-founders of Sealed Network and previously served as its COO and CFO. Prior to Sealed, he was with Wavemaker’s Ventures team, backing early-stage startups. Wen Ge graduated summa cum laude from Singapore Management University with double degrees in Business Management and Accountancy.
Wen Ge Leo
Vice President
Andrea is involved in the sourcing and evaluation of deals, due diligence, and the preparation of investment proposals for the fund’s investment decisions. Prior to joining Wavemaker, Andrea interned at Vulpes Ventures, focusing on early-stage SEA investments; and at Deloitte, where she drove the execution of strategic innovation partnerships by establishing key collaborations with start-ups and venture builds. Andrea graduated from Nanyang Technological University with a Bachelor’s degree in Economics (Highest Distinction), specializing in Finance. During her university years, she took on a leadership role in NTU Entrepreneurship Society, which serves as NTU’s entrepreneurial ecosystem for aspiring student entrepreneurs.
Andrea Lim
Associate
