Aura PE Growth Income Fund

A Southeast Asia Private Equity Strategy

The Aura PE Growth Income Fund is a private equity investment strategy focused on lower mid-market growth opportunities across Southeast Asia, including Vietnam, Indonesia and the Philippines. The Fund is available to eligible wholesale and sophisticated investors.

For Wholesale Investors only

About the Fund

The Fund, previously named Aura Private Equity Back to the Future Fund 2, aims to generate a target return of 20% p.a. (net of fees and expenses) by investing in Southeast Asia’s emerging-market champions across the SME and middle-market segments. We leverage a proprietary data-driven “Time Machine” methodology to identify strategically investible sectors and business models, prioritising industries and sectors aligned with ESG-led priorities and the UN Sustainable Development Goals.


The Aura PE Growth Income Fund (APEGIF)(the Fund) is Aura Private Equity’s inaugural blind-pool fund, marking an evolution in investment strategy from single-asset dealmaking to blind-pool deployment.

  Why Invest in Southeast Asia Private Equity?

Southeast Asia represents one of the most compelling private equity investment destinations of this decade. The region's powerful macroeconomic tailwinds, including a population of 695m with a median age of 30, a middle-class consumer base of 200m expected to double in the coming years, and these economies on track to surpass USD 10k GDP per capita within 10 years create a fertile environment for high-growth businesses. Underpinned by rising literacy rates and strengthening technology infrastructure, PE investment activity has grown significantly, particularly as geopolitical tensions have driven investors to seek alternatives to China.*


With a targeted corpus of US$100–120m, the Fund will deploy into mid-market private equity opportunities with a focus on investing into market leaders and challengers in emerging Southeast Asia. Aura Private Equity aims to leverage the use of a proprietary data-driven “Time Machine” methodology. This process identifies strategically investible sectors and business models by investigating strong “time-lag” effects between Southeast Asian markets and more advanced Asian private equity markets like Singapore, China, India and South Korea. Industries and sectors that are aligned to the UN Sustainable Development goals are prioritised.

Investment Strategy

Aura Private Equity’s proprietary Time Machine methodology reviews historical data sets of economic, IPO, M&A and private funding from advanced Asian PE markets, such as Singapore, China, South Korea, and India. It aims to identify high-potential sectors with attractive dynamics and determine patterns for winning formulas within company-specific variables, like business models and customer segments. Using this overlay, the team executes deep research to originate opportunities that identify leading companies and teams to invest in.

Post-investment, Aura Private Equity’s approach centres on asset-level transformative change through strategic support, M&A, access to capital, exit timing and facilitating stronger alignment to ESG standards at the asset level.

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This strategy, paired with opportunistic investing, has led us to invest in market leaders such as:

 

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Aura Private Equity Track Record


29%

Gross Pooled IRR1

2.63x

Gross MOIC2

US$73m

Assets Managed (incl. co-invest)3

1.54x

Gross Realisations4

1,2,3,4 All fund-related metrics reflect those across all APE investments excluding Giftaway, and is based on latest internal valuations as of December 2025. Gross realisations and MOIC calculated on invested capital and total proceeds from exited investments before deducting fees, expenses, or carried interest over invested capital. IRR calculated over total capital commitments. DPI is 1.25x including final payout in Lannock made in Feb-26.

3 Includes US$17m co-investment amount into 1300 Australia and Giftaway. FUM as of 31 December 2025.

Who is the Aura PE Growth Income Fund Designed For?

The Fund may be suitable for wholesale clients looking for an investment that seeks to provide:


Access to a proprietary data-driven “Time Machine” investment strategy


A robust track record in value creation and returns generation

 

An attractive growth opportunity in Southeast Asia


Strong LP alignment with significant GP commitment

Experienced Regional Team

The Fund is managed by seven investment professionals based across Singapore, Vietnam, and Malaysia, supported by in-country partners and an experienced advisory committee.

Fund Terms

  • Eligible Investors

  • Type, Frequency & Target Return

  • Minimum Funds & Investment Period

Wholesale clients as defined by the Corporations Act who have an accountant’s certificate confirming a gross income of over $250,000 p.a. in each of the previous two years and/or net assets of at least $2.5 million. Alternatively, you may qualify without an accountant’s certificate if you invest $500,000 or more. 

•    The Aura PE Growth Income Fund is a closed-ended fund targeting a return of 20% IRR (net of fees)
•    Terms: 8 years from final close (two yearly extensions, second year with LP consent)

•    Target fund size: US$100m–120m
•    First close: US20-30m, final close within 12–18 months from first close
•    Investment period: Shall commence on the initial closing date until the second anniversary of the final closing date

How to Apply

Thank you for your interest in the Aura PE Growth Income Fund.

Aura Group Funds have a minimum investment of US$500,000 or lower at manager’s discretion.

Before making an application for units in the Fund, please read the Information Memorandum.

Frequently Asked Questions

Why invest in lower mid-market companies in Southeast Asia?

Lower mid-market companies in Southeast Asia can offer exposure to businesses operating in economies benefiting from rising incomes, urbanisation, digital adoption and expanding consumer demand. Many businesses in this segment are earlier in their growth journey than larger, mature companies, which may create opportunities for operational improvement, market share expansion and strategic exits over time. Compared with larger buyout transactions, lower mid-market opportunities may also face less competition and more attractive entry valuations. As with any investment, returns are not guaranteed and risks apply.

Who can invest in the Aura PE Growth Income Fund?

The Aura PE Growth Income Fund is intended for eligible investors only, including accredited, wholesale, sophisticated or institutional investors, subject to applicable laws and jurisdictional requirements. Eligibility may depend on factors such as investor status, assets, income thresholds and location. Prospective investors should review the relevant Information Memorandum and seek independent professional advice to determine whether the Fund is suitable for their circumstances.

What is growth equity investing?

Growth equity investing is a form of private equity that typically involves investing in established businesses seeking capital to expand operations, enter new markets, make acquisitions or accelerate strategic initiatives. These companies are often beyond the early start-up stage and may already generate meaningful revenue, with a pathway toward increasing profitability. Growth equity investments commonly seek to support business expansion while allowing existing founders or management teams to continue leading the company. Returns depend on business performance, market conditions and successful execution of the investment strategy.

Is this Fund suitable for me?

The Fund is suitable for investors seeking exposure to an alternative asset class comprising investments in privately held companies structured via equity or equity-linked instruments. Such investors should be comfortable with the risks associated with investments into private companies (as outlined in the Fund’s Information Memorandum and Supplemental Memorandum) and the illiquid nature of the investment.

What is the Fund's investment objective?

The Fund’s objective is to achieve a 20% IRR (net of fees and expenses) via minority and/or majority investments in privately held middle-market companies in Southeast Asia. We will aim to leverage our proprietary “Time Machine” investment strategy to identify key industries within emerging Southeast Asia with high growth potential based on historical trends in advanced Asian markets (e.g South Korea, China, India, Singapore), and target suitable companies for investment.

Where does the Fund invest?

The Fund will primarily be focused on privately held companies with their core business located within emerging markets in Southeast Asia (i.e Indonesia, Philippines and Vietnam) and opportunistically in developing Southeast Asian markets (i.e Thailand and Malaysia).

What is the minimum initial investment?

The minimum initial investment is US$500,000 or lower at the fund manager’s discretion.

How often is income paid?

The Fund is not envisioned to make regular distributions prior to the end of its charter, but may make such distributions from time to time at the advice of the fund manager, depending on availability of income from sources, such as portfolio company dividends or exits.

* Source: ASEAN: Constructive trade and investment prospects into 2035, 2025.

Important Information

This information is for accredited, qualified, institutional, wholesale or sophisticated investors only and is provided for information purposes only and does not constitute an offer or invitation for the subscription, purchase or transfer of interests in the Fund. The information is of a general nature only and has been provided without taking into account the investment objectives, financial situation or needs of any particular investor. Therefore, before acting on the information contained in this report you should seek professional advice and consider whether the information is appropriate in light of personal circumstances. Aura does not guarantee the performance of its funds, the repayment of any capital or any rate of return. Investing in any financial product is subject to investment risk including possible loss. An investment in the Fund should be regarded as speculative. All information including current or forecasted revenue or valuation information is subject to change and may include estimates or internal valuations. Past performance is not a reliable indicator of future performance. Information in this report is based on the information provided to Aura by third parties that may not have been verified. Aura believes that the information is reliable but does not guarantee its accuracy or completeness. While every care has been exercised in compiling the information contained in this presentation, Aura accepts no responsibility for any errors or omissions within it. Aura is not able to give tax advice and accordingly investors should obtain independent advice from an accountant and/or lawyer before making any decision based on the tax treatment of its investors. You must read the Aura Group Master Fund VCC Information Memorandum, Supplemental Memorandum and Subscription Agreement and seek professional advice before making a decision to invest in any of the funds.

Aura Group (Singapore) Pte Ltd is the Investment Manager of Aura PE Growth Income Fund (sub-fund registration number T21VC0220A-SF004), a sub-fund of Aura Group Master Fund VCC (UEN T21VC0220A), a variable capital company incorporated with limited liability under the laws of the Republic of Singapore. Aura Capital Pty Ltd AFSL 366 230 | ABN 48 143 700 887 a related entity, is arranging the offer of this product by Aura Group (Singapore) Pte Ltd, in Australia. 

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