Singapore-based private equity firm Novo Tellus has closed its third fund at $510 million, according to a statement on Wednesday.
Novo Tellus reached the $375 million first close for the vehicle in June 2023 to eventually surpass its fundraising target by 36% this year. It reached the hard cap of its fund and closed the fundraising process within one year, making it one of very few Southeast Asian PE firms who managed to meet their fundraising targets this year.
Novo Tellus last closed its Fund 2 at $250 million in 2021.
