VENTURE capital firm Square Peg announced the close of its fifth fund, raising US$550 million. The firm raised over US$1.6 billion across five funds and returned over US$580 million to investors across 11 exits at an internal rate of return of 42 percent. Some Southeast Asian portfolio companies include the telehealth platform DoctorAnywhere, Fintech FinAccel, and software-as-a-service company LottieFiles.

The fifth fund has already done a few investments, such as SaaS companies Kula and Supabase in Southeast Asia. Square Peg has a presence in Singapore, with partners Roy and Piruze Sabuncu based in the island republic.