View the full issuehere
Fund

TNB Aura Impact Report 2024: Transforming Southeast Asia Through Strategic Tech Investment

Southeast Asia’s venture capital landscape is witnessing a powerful transformation, with TNB Aura leading the charge as a thesis-driven firm focused on solving the region’s most pressing challenges. Our 2024 Impact Report reveals how strategic investment can deliver both exceptional financial returns and meaningful social impact across emerging markets.

 

Growth and Regional Impact

TNB Aura achieved first quartile fund status across Asia in 2024, validating their strategic approach to high-conviction investing. Our Fund 2 and Fund 3 companies collectively reached 5 million people, with 8% representing new users accessing technology-enabled services for the first time.

The firm’s 14 portfolio companies span 8 sectors across 7 countries, creating tangible impact:

  • 4,500 jobs created with 84% in OECD development-eligible countries
  • 60% women employees across the portfolio
  • 209K small-scale enterprises reached
  • 5M individual beneficiaries served

 

Addressing Regional Development Priorities

TNB Aura’s investment strategy targets Southeast Asia’s biggest development gaps, focusing on UN Sustainable Development Goals with the highest growth potential: poverty reduction, economic growth, innovation & infrastructure, and reduced inequality.

Our approach centres on two core impact areas:

  1. Contributing to Innovation: Southeast Asia spends just 0.34% of GDP on R&D, well below the 2.9% average of developed markets. TNB Aura’s portfolio companies are filling this gap, launching 238 new products and services in 2024 with 154 upgrades, while investing 0.8% of revenue in R&D.
  2. Enabling Better Access: Infrastructure gaps limit access to essential services, particularly beyond Tier 1 cities. TNB Aura backs companies that leverage technology to democratise access to quality goods, education, and financial services.

 

Portfolio Success Stories

Charge+: Powering EV Infrastructure

Southeast Asia’s largest private EV infrastructure player achieved remarkable 239.4% utilisation growth from December 2023 to 2024. The company installed over 2,400 charging points in Singapore alone, a 100% increase from 2023, while securing partnerships with BYD, Mercedes, and Porsche across six countries.

SUPER: Democratising Commerce

Indonesia’s largest social commerce platform tackles the challenge of expensive goods in remote areas, where basic items can cost 20% more than in urban hubs. SUPER’s network of 40,000+ active agents, including 27,900 women-led agents (33% of the network), enables group buying that reduces costs and creates income opportunities. (Read more: Super: Social Commerce Group Buying Platform for Second- and Third-tier Cities, and Rural Indonesia)

 

Strengthening Governance Standards

TNB Aura has long recognised the need for robust governance standards in Southeast Asia’s evolving VC ecosystem. While recent events like the eFishery scandal brought industry-wide attention to these challenges, the firm had already been proactively collaborating with industry partners to develop stronger practices. We implemented:

  • Physical asset verification through field inspections
  • Mandatory ERP access during due diligence
  • Institutionalized whistleblower policies
  • Enhanced board governance requirements

All Fund 2 portfolio companies now have active grievance redress mechanisms, demonstrating the firm’s ongoing commitment to responsible investment practices.

 

Climate Focus and Future Vision

Sustainability has always been at the core of TNB Aura’s investment mandate. This commitment is reflected in our strategic Fund 3 deployment:

  • 40% of Fund 3 will support decarbonization and climate resilience
  • 90%+ allocation to OECD development-eligible countries (Indonesia, Philippines, Vietnam)
  • Current climate investments span sustainable agriculture, industrial solutions, and transportation & mobility

 

Building Tomorrow’s Ecosystem

Beyond direct investments, TNB Aura nurtures Southeast Asia’s venture ecosystem through:

 

A Proven Model for Impact Investment

TNB Aura’s systematic approach demonstrates that addressing regional development needs while backing category-defining businesses creates a virtuous cycle of innovation, growth, and impact. Our research-driven methodology has translated 660+ precedent business models into 24 strategic investments across three funds.

As Southeast Asia continues its rapid development trajectory, TNB Aura’s model offers valuable insights for investors seeking meaningful change alongside sustainable returns. Our commitment to transparency, governance excellence, and long-term founder partnerships positions them as a leading example of how venture capital can catalyse regional transformation.

Looking ahead as an active investor, TNB Aura remains committed to our founding vision: uplifting the next billion people through strategic technology investments that drive inclusive growth across Southeast Asia’s emerging markets.