Independent Fund Manager, Swaen Capital

Swaen Capital

Independent Fund Manager

Swaen Capital is a Singapore based licensed independent fund manager with an open architecture, a non bias financial platform creating access to the best custodians and investment managers. Our focus lies within the wealth management business, covering client relationships, financial planning, advisory, as well as discretionary portfolio management. We have developed strategic alliances with other leading independent firms to complement and extend our offerings to clients (global hedge fund research capability, alternative investment offerings, corporate finance, fund structuring & administration, etc). Our know-how, extensive global network and long standing presence in Asia allows us to provide a global footprint and at the same time enables us to capitalize on regional opportunities.

Equity Bottom-Up

<ul>
<li>AvePoint is a global data-management software company founded in 2001 and headquartered in Jersey City, New Jersey, listed on Nasdaq since July 2021 via SPAC merger and secondarily listed on SGX since September 2025.</li>
<li>Its AvePoint Confidence Platform consists of three interconnected suites (Control, Resilience, Modernization) that secures, governs, backs up and migrates unstructured data across Microsoft 365, Google, Salesforce, AWS and other cloud environments, sold as subscription SaaS directly and through ~6,000 channel partners.</li>
<li>A fourth suite (AgentPulse) is recently set up to help with agent governance. The company compounded Annual Recurring Revenue (ARR) at 27% CAGR for the past 4 years and reached GAAP profitability in FY25.</li>
</ul>


AvePoint is a global data-management software company founded in 2001 and headquartered in Jersey City, New Jersey, listed on Nasdaq since July 2021 via SPAC merger and secondarily listed on SGX since September 2025.
Its AvePoint Confidence Platform consists of three interconnected suites (Control, Resilience, Modernization) that secures, governs, backs up and migrates unstructured data across Microsoft 365, Google, Salesforce, AWS and other cloud environments, sold as subscription SaaS directly and through ~6,000 channel partners.
A fourth suite (AgentPulse) is recently set up to help with agent governance. The company compounded Annual Recurring Revenue (ARR) at 27% CAGR for the past 4 years and reached GAAP profitability in FY25.


Invest for a Sustainable Future, Impact Capital Asset Management

ICAM

Invest for a Sustainable Future

Impact Capital Asset Management

Established in August 2020, Impact Capital Asset Management Pte. Ltd. (ICAM) was conceived by seasoned professionals Deepak Mawandia and Atul Tetambe. Both have accumulated a wealth of knowledge and experience from their extensive tenures in the financial sector. In 2019, ICAM secured its RFMC license and subsequently introduced a technology-centric venture fund. By 2021, with the acquisition of its CMS license, ICAM witnessed steady growth in its assets under management. Presently, ICAM manages a portfolio exceeding USD 1 billion, diversified across various countries. Central to ICAM’s foundation is a commitment to offering a platform singularly dedicated to the best interests of its investor clients. The combined expertise of Deepak and Atul firmly establishes ICAM as a notable entity in the wealth management field.

<ul><li>AvePoint’s Q1FY2026 result was ahead of the prior midpoint, but the May update did not become a clean full-year upgrade.</li><li>Revenue reached US$117.2m versus a US$116.0m midpoint, while non-GAAP operating income reached US$20.5m versus a US$20.0m midpoint.</li><li>The central update is that operating performance beat plan, but FX more than offset that beat in the full-year bridge.</li></ul>

AvePoint’s Q1FY2026 result was ahead of the prior midpoint, but the May update did not become a clean full-year upgrade.Revenue reached US$117.2m versus a US$116.0m midpoint, while non-GAAP operating income reached US$20.5m versus a US$20.0m midpoint.The central update is that operating performance beat plan, but FX more than offset that beat in the full-year bridge.

AvePoint Inc. Results Update (08 May 2026)

<ul><li>FY2025 improved the quality of growth more than it changed the headline story.</li><li>Revenue rose to US$419.5m and annual recurring revenue (ARR) reached US$416.8m, with SaaS now at 76% of revenue.</li><li>That makes the business look less like a transition case and more like a scaled recurring software model. </li></ul>

FY2025 improved the quality of growth more than it changed the headline story.Revenue rose to US$419.5m and annual recurring revenue (ARR) reached US$416.8m, with SaaS now at 76% of revenue.That makes the business look less like a transition case and more like a scaled recurring software model. 

<ul><li>AvePoint is a global subscription software company that helps organizations manage, protect and govern collaboration data sitting in cloud platforms such as Microsoft 365 and other SaaS tools.</li><li>Its platform combines backup, data protection, governance and modernization so that customers can keep using these tools and newer AI features without losing control of security or compliance.</li><li>In 2024 it generated US$330m of revenue, up 22% from 2023, with SaaS contributing roughly 70% of the total and recurring revenue 87%.</li></ul>

AvePoint is a global subscription software company that helps organizations manage, protect and govern collaboration data sitting in cloud platforms such as Microsoft 365 and other SaaS tools.Its platform combines backup, data protection, governance and modernization so that customers can keep using these tools and newer AI features without losing control of security or compliance.In 2024 it generated US$330m of revenue, up 22% from 2023, with SaaS contributing roughly 70% of the total and recurring revenue 87%.

The New Standard in Wealth Management, Wealth Management Alliance

Wealth Management Alliance

The New Standard in Wealth Management

WMA is a Singapore-based multi-family office with a Capital Markets Services license and provide fund management and investment advisory services to a small number of global UHNW clients. We also act as incubator for single-family offices, allowing them to plug into our broader ecosystem and infrastructure, and tap on our investment professionals for advice. WMA is designed around providing truly bespoke advice to each client, rather than taking a one-size-fits-all approach that may not fit each client's investment objectives and risk tolerances. On top of that, we are designed so that we avoid any semblance of conflicts of interests by being compensated only by the client (which may include profit sharing), as opposed to the model that many of our peers adopt, which include compensation from a variety of third parties such as funds managers, distributors or banks. That, to us, is the easiest way to be firmly on the side of the client in every decision we make.

Thematic (Sector/Industry)

<ul>
<li>The Singapore stock market has picked up further momentum in July, with the Straits Times Index (STI) surging 10.9% month-to-date.</li>
<li>This has taken the gain year-to-date to 22.7%, outperforming global bourses.</li>
<li>We see domestic monetary policy setting remaining a stabilizer in providing a positive backdrop for the local bourse.</li>
</ul>


The Singapore stock market has picked up further momentum in July, with the Straits Times Index (STI) surging 10.9% month-to-date.
This has taken the gain year-to-date to 22.7%, outperforming global bourses.
We see domestic monetary policy setting remaining a stabilizer in providing a positive backdrop for the local bourse.


United States

AvePoint, Inc. operates as a software company. The Company develops SaaS solutions to migrate, manage, and protect data and IT infrastructure. AvePoint serves customers worldwide.

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AvePoint (AVPT US)

AvePoint: Data Confidence in the AI Era

ARR growth re-accelerated out of FY22’s software downcycle. 12 straight quarters of double-digit organic net-new ARR growth.

Swaen Capital

AvePoint Inc. Results Update (08 May 2026)

AvePoint’s Q1FY2026 result was ahead of the prior midpoint, but the May update did not become a clean full-year upgrade. Revenue reached US$117.2m...

ICAM

AvePoint Inc. Results Update

FY2025 improved the quality of growth more than it changed the headline story. Revenue rose to US$419.5m and annual recurring revenue (ARR)...

ICAM

AvePoint Inc: Initiating Coverage

AvePoint is a global subscription software company that helps organizations manage, protect and govern collaboration data sitting in cloud...

ICAM

Singapore Equity Strategy: July 2026

The Singapore stock market has picked up further momentum in July, with the Straits Times Index (STI) surging 10.9% month-to-date. This has taken...

Wealth Management Alliance

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