In context
This call is open to startups, small and medium-sized businesses and large companies, at Series B and growth stage and scale-up and mature. Coverage is read from the notice itself: Se-Asia.
Growth-stage venture fund investing in maturing companies across Enterprise, Deep Tech, and Sustainability sectors in Southeast Asia. Targets companies beyond early-stage seed/Series A looking to scale operations and market presence.
About this grant
Wavemaker Growth is the growth-stage venture capital fund operated by Wavemaker Partners, Southeast Asia's leading VC group. The fund capitalises on maturing opportunities in the Enterprise, Deep Tech, and Sustainability sectors, building on the foundation of the firm's early-stage fund (Wavemaker Ventures). It targets companies that have already demonstrated product-market fit and are scaling their operations across Southeast Asia. The fund is part of a broader group that includes Wavemaker Ventures (early-stage), Wavemaker Impact (a Climatetech Venture-Build Fund), and Wavecrest (non-profit). Together the group has invested in over 200 companies and manages over US$600 million in total assets under management. Wavemaker Partners focuses on founders solving meaningful problems in enterprise technology, deep technology, and sustainability. The firm is particularly interested in backing companies with unique, scalable, and defensible solutions that may otherwise be overlooked, including those operating in less-favoured markets such as the Philippines or Vietnam, or those without clear comparable business models. Approximately 92% of the firm's active portfolio contributes to at least one UN Sustainable Development Goal.
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Eligibility
Applicants must be startups operating in Southeast Asia at a growth stage, with a focus on Enterprise, Deep Tech, or Sustainability sectors. The fund seeks founders who are authentic, bold, curious, and action-oriented. Companies should have demonstrated traction and be seeking growth-stage capital to scale their operations. There is no explicit restriction on nationality, but the fund's geographic focus is Southeast Asia.
How it's scored
The page does not disclose specific evaluation criteria, scoring systems, or panel composition for the Wavemaker Growth fund. Generally, the firm looks for founders with meaningful, scalable, and defensible solutions and companies contributing to the UN Sustainable Development Goals.
Key requirements
- ✓Company must be growth-stage / maturing (post-Series A)
- ✓Operations or focus in Southeast Asia
- ✓Business model in Enterprise, Deep Tech, or Sustainability sectors
Recent past awardees
Knowing who's won the last rounds tells you whether you're in the strike zone.
- Aonic · 2026 · $10M
- Eezee · 2026 · $5M
- Wavecell · 2015
- TradeGecko · 2012
- Luxola · 2012
Funder contact
The notice names a programme contact you can speak to before applying.
Frequently asked questions
- Who can apply for Wavemaker Growth?
- Eligibility covers organisations in SE-ASIA; startup, sme, large-company. See the eligibility criteria above for the full conditions.
Relevant sectors
About this sector
Industrial decarbonisation funding helps heavy industry cut emissions through electrification, fuel switching, process change and efficiency. Support is often capital-intensive and tied to a specific site, with feasibility studies leading to larger deployment calls. Applicants need emissions baselines, engineering studies and a plan to keep production running during the change.
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