Go-Ventures rebrands, changes name to Argor Capital

SINGAPORE  – Argor Capital Management Pte. Ltd., an independent Southeast Asia-focused investment firm formerly known as Go-Ventures, announced its new name and the closing of its second flagship venture fund.

Argor has raised $240 million in committed capital for its second venture fund and separately managed vehicles.

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.

Argor closed its first flagship venture fund in 2020 with a total commitment of $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, totaling $1.4 billion to date.

The decision to rebrand, which comes following the success of its first venture fund, seeks 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 is a uniquely coined name that comes from a combination of the words ‘ardor’, ‘rigor’ and ‘Go’. It captures the passion and spirit of partnership that our team employs as we invest in and help our portfolio companies across Southeast Asia change millions of lives for the better,” said Aditya Kamath, a partner at Argor, in a statement.

“While we are rebranding at a time of expansion, the word ‘Go’ embedded in our name is an important reminder for us of the strong support we have received from GoTo and our other investors since we started this journey back in 2018,” Aditya Kamath added.

Argor saw its investor base expand meaningfully in this fundraise. Investors in Argor’s second venture fund 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.

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.