Lighthaven:
Investment Fund for Asian SMEs
Approach
Pioneering Search Fund investments in Asia
Lighthaven aims to accelerate the development of Search Fund ecosystem in Asia by being the first Asian based long-term capital investor supporting local searchers. We support a wide range of next-generation entrepreneurs across a variety of models, including traditional searchers and self-funded searchers, as we take the best of the global Search Fund model and apply it to the local Asian markets. Our approach is to invest in a portfolio of Search Funds with the intention to
- replicate the strategy of successful Search Funds from other markets
- be the long-term capital supporting the businesses
The objective is to create stable and diversified cashflow generation through ownership in a portfolio Asian SMEs helmed by next-generation leaders.
For Owners
The Legacy Continues
Search funds are an investment model created to solve leadership transitions for SMEs 40 years ago that has been very successful in other markets. They support the matching of founder and next-generation entrepreneur. “Searcher” identifies a company, negotiates the deal, acquirers the company with support from investors (e.g. Lighthaven) and becomes the new owner / operator of the business.
Search Funds can provide many benefits that make it an ideal choice for founders looking to transition leadership to the next generation. Founders looking to transition their business will be able to personally get to know and choose the future manager / owner of their business through the process. Founders negotiate with the person who will personally run their business. The Search Fund model can enable small, traditional businesses the ability to attract a higher caliber of next generation entrepreneur that will lead their company successfully into the future.
Our Portfolio of Leaders
Talent, Experience and Vision
Gok Aik Chuan
Garlic Equity Capital, Singapore
Nazrul Johari
Nusatu Capital, MalaysiaLed Malaysia's Strategy and Operations at AWS; nearly a decade as a McKinsey consultant in Kuala Lumpur and New York.
Annie Huang
Floreo Capital, TaiwanHarvard MBA graduate; extensive experience in corporate development, investments, and M&A across APAC, with a diverse background spanning Taiwan, the U.S., and Southeast Asia.
Kenneth Cheng
Mission Kay Capital, SingaporeINSEAD EMBA; 15+ years' experience in entrepreneurship, consulting, and leadership, at Accenture, EY, BHP, and UL.
Anurag Sinha
Milestone Search Capital, IndiaDynamic leader with 12+ years' experience; drove $40M GMV at OYO and led $100M topline revenue as CEO of Raam Group.
Rehan Netarwala
Okintek Capital, IndiaISB Hyderabad MBA graduate; scaled his own B2B services firm to 500+ SME clients before a successful exit in 2023.
Victor Wu
Prax Capital, ChinaCEIBS MBA and CPA; brings 15+ years' expertise in private equity, corporate leadership, and consulting, driving growth and strategies in China.
About Our Managing Partner
Tycen Bundgaard: An SME Visionary
Three years ago, Tycen became convinced of the opportunity in the SME and Search Fund investing space in Asia. After 14 years as a Partner at McKinsey & Company advising investors in Asia, Tycen had seen firsthand many of the struggles of generating investment returns in the region. When introduced to the model, Search Funds represented a unique model that provided a clear and compelling solution to an obvious problem. With the regions accelerating demographic transition to an aging population, it was clear even then to Tycen that the problem of succession planning for founder led SMEs was going to increase dramatically.
With that belief and the ultimate plan of investing in and supporting Search Funds, Tycen took the opportunity to become the CEO of Les Amis Group. The role provided learnings on the challenges of local leadership role and founder led SMEs. In 2024, the momentum in Search across Asia began with the first traditional Searchers in multiple markets, many of whom are supported by Ligthaven. Tycen is now dedicated to applying his assembled skills from Merrill Lynch M&A, McKinsey & Company PE Practice, and Les Amis Group, to lead Lighthaven and support Searchers across Asia.
