White Water Capital

Since 2004 · Singapore

Transforming businesses.
Delivering value.

We are an angel investor focused on funding and helping SMEs scale up. Working hand-in-hand with business owners, our network of serial entrepreneurs and specialist partners brings the information, capital, and resources needed to grow ideas into enduring businesses.

The Company

We look where others don't.

20+years investing

We search for opportunities that have been overlooked. We actively seek out investments in sectors which may be out of favour and in businesses which have been under-managed or under-capitalised.

We think and act long-term. We invest time, money, and expertise into transforming the strategy, operations and finances of the businesses we acquire — and we are actively involved in every portfolio company we hold.

Our Approach

Strategise. Transform. Excel.

Three deliberately simple principles that guide how we engage with every opportunity.

01

Strategise

We study businesses closely to discover overlooked opportunities. We find new solutions to existing problems and more profitable approaches to how a business is run.

02

Transform

We invest in asset-backed businesses operating in essential industries that require fundamental change — not cosmetic fixes.

03

Excel

We take a long-term view. Transforming businesses does not happen overnight; we commit the time, capital, and expertise to see it through.

Investment Criteria

Typical opportunities we back

We are sector-agnostic but disciplined on shape of opportunity. Three patterns consistently map to our model:

Recapitalization & growth capital

Experienced business owners recapitalising their company, or requiring growth capital to expand an already-proven model.

Management buy-outs

Incumbent management teams seeking a financial partner to support a buy-out from current ownership, while retaining operational continuity.

Operator-led acquisitions

Seasoned operating executives identifying an under-performing business where they can add value through focused turnaround.

What we bring to the table

Capital

Patient, long-horizon funding — not quarterly-pressured.

Network

Serial entrepreneurs, operators, and specialist advisors.

Operating depth

Active involvement in strategy, operations, and governance.

Regional reach

Markets across Singapore, China, Australia, and Thailand.

The Team

PLACEHOLDER — names pending

Experience that guides the way

TS

Tomoko Shimojo

Board Member

FL

Francis Lee

Chief Executive Officer

JR

John Rustrick

Partner & Chief Operating Officer

AD

Anderson Ding

Partner & Chief Technology Officer

Let's talk about your next chapter.

Whether you're recapitalizing, planning a buy-out, or looking for the right partner to unlock an under-performing asset — we'd be glad to hear from you.

Conversations are confidential, always.

Address
229 Mountbatten Road #03-38
Mountbatten Square
Singapore 398007
Phone
+65 6747 3486
Fax
+65 6747 3487