Singapore-based private equity firm KV Asia Capital has announced the final close of its first fund, KV Asia Capital Fund I, at US$263 million, exceeding its US$250 million target. The fund, which held its first close at US$100 million in October 2012, will focus on investment opportunities in Southeast Asia, primarily in Indonesia, Malaysia and Singapore. Investors in the fund include pension funds, endowments, financial institutions, fund of funds and family offices.