Axiom Asia expands team with ex-Coller exec

Alex Sao-Wei Lee will leave Coller Capital to join Singapore-based fund of funds Axiom Asia Private Capital as an investment director in September.

Lee, a principal in the Singapore office, has worked for the UK-headquartered secondaries specialist since 2003. Coller has not yet disclosed whether it will replace him.

Axiom was founded three years ago by Chihtsung Lam, Yewhong Goh and Edmond Chi-Man Ng, formerly executives at GIC. The firm closed its first fund of funds, Axiom Asia Private Capital Fund I, on $440 million in April 2007, beating its target of $350 million. Over 75 percent of investors in the first fund came from the US and included endowment funds, foundations and family offices.

Axiom has a broad investment remit which includes buyout, venture capital and growth private equity funds across Japan, Korea, Greater China, Southeast Asia, Australasia and the Indian subcontinent, as well as select co-investment on direct deals and secondary fund positions.

At present, the firm has a five-member team in its Singapore office. Market sources say it is currently in the market to raise its second fund, although no further details are known and the firm declined to comment.