Go-Ventures Rebranding Becomes Argor, Announces New Managed Fund

The investment arm of GoTo, Go-Ventures, announced rebranding became Argor Capital Management (Argor), as well as announced $240 million (over 3,6 trillion Rupiah) under management in capital commitments for a second managed fund, as well as several separately managed facilities.

In an official statement released today (20/6), the managed funds come from the Sovereign Wealth Fund (SWF), institutional investors, corporations, and family office originating from Asia, the Middle East, Australia, Europe, and the United States. Although GoTo remains an investor in Argor's managed fund, Argor's strategy and investment decisions are made independently.

"Argor is a unique name that comes from a combination of the words 'ardor (spirit)', 'rigor (firm)', and 'go (forward)'. This name reflects the passion and partnership spirit that our team has in investing in and helping our portfolio companies in Southeast Asia change the lives of millions of people for the better. Although this name change was made during the expansion period, the word 'Go' in our name is an important reminder of the success and strong support we have received from GoTo and early investors since this journey began in 2018,” said Partner Argor Aditya Kamath.

In his career since 2018, the company closed its first fund under management in 2020 with a total commitment of $175 million. These funds have been invested in 19 regional startups, of which the startups managed to raise follow-up funding from third-party investors totaling $1,4 billion.

Based on this success, Go-Ventures decided to change its name to Argor in order to strengthen the company's independence, as well as expand its ability to drive the growth of its portfolio companies. However, Argor emphasized that it still maintains the close relationship it has with GoTo and other company investors.

“We are very grateful to the investors who have supported this new move. Despite facing macro challenges globally, we remain optimistic about the potential of the technology ecosystem in Southeast Asia, which is supported by consumption and adoption of technology among consumers and businesses alike. We will remain focused on finding and providing support to the best startups in Southeast Asia."

Over the last two years, Argor has rapidly expanded its investment and support capabilities to its portfolio with the addition of Siddharth Pisharody and Adrian Foo as Partners. In addition, Argor experienced a threefold growth in team size. These new team members include top industry executives in areas such as technology, product, data science, talent, and marketing.

With the completion of this latest fundraiser, Argor plans to increase its impact on the tech ecosystem in Southeast Asia by investing in early- and mid-stage startups that target large and attractive market opportunities while driving significant social impact.

“[..] We will remain agnostic in exploring industry sectors, and focus on investing in a limited number of companies with a high level of confidence that deliver returns for our investors while transforming the lives of people in Southeast Asia,” he concluded.

To date, Argor has funded seven companies from its second venture capital covering various sectors, such as B2B marketplaces, technology-based consumer businesses, SME digitalization platforms, environmental technology, and financial systems.

The company portfolio is as follows: