Singapore-based Transpac Venture Management is launching an...

Singapore-based Transpac Venture Management is launching an $80-million fund to invest in emerging growth companies in the six-member Assn. of South East Asian Nations region and Asia’s newly industrializing economies.

The Asia Venture Fund will issue up to 800 share units at $100,000 each to non-Singapore residents, with a minimum subscription of two units per investor, Transpac officials said.

The fund will be managed by Singapore’s Transtech Venture Management Ltd. and Techno-Ventures Hong Kong Ltd.

Transpac is jointly owned by the Development Bank of Singapore Ltd. and National Iron & Steel Mills Ltd., said Ang Kong Hua, president of Transtech and managing director of National Iron.

Nomura Singapore Ltd., a unit of Japan’s Nomura Securities Co., and DBS Bank will act as issue managers and placement agents for the fund.