EV Growth, which counts Sinar Mas and Yahoo Japan as co-founders, has hit the $250m hard cap for its inaugural fund.

EV Growth, the Singapore-based venture capital partnership between internet company Yahoo Japan, conglomerate Sinar Mas and VC firm East Ventures, closed its first fund at $250m on Tuesday.

The vehicle’s limited partners include undisclosed family offices and Asian sovereign wealth funds, according to EV Growth, and Singaporean state-owned Temasek, according to e27. The $250m figure represents the fund’s hard cap and significantly surpassed its initial target of $150m.

EV Growth was launched in March 2018 and had raised…