Built for the businesses Southeast Asia has built.
Enduring Ventures is a Singapore-based permanent-capital holding company founded by Lucien Ong in 2025.
Our origin
Lucien Ong spent more than a decade working alongside Southeast Asian founder-owners in M&A and corporate development — first at JJ-Lapp, then as Director of M&A and Corporate Development at the Jebsen & Jessen Group, one of the region’s largest diversified industrial groups. In that time, he saw hundreds of exceptional businesses that lacked a buyer who would treat them with the permanence they deserved.
Enduring Ventures was built to be that buyer. Not a private equity fund with a five-year exit mandate. Not a strategic acquirer planning a consolidation. A permanent home — where the team stays, the culture survives, and the business continues to grow on its own terms.
We launched publicly in January 2025. Our first acquisition is Yutaka — a 50-year-old industrial business in Singapore supplying packaging machinery, food-service equipment, and system integration to food-processing and semiconductor customers across Asia. We plan to hold it for decades.
Our principles
Hold forever.
We have never sold a company we have acquired. We do not plan to start. Our capital has no clock and no fund mandate requiring a return.
Operators over investors.
We were M&A practitioners before we were acquirers. We know how to underwrite industrial and manufacturing businesses — and how to steward them after close.
Fair deals, fast.
Fair price. Clean terms. LOI in three weeks. Close in sixty days. We do not use the diligence process to retrade.
Long tenure at every level.
The best businesses we know have leaders who have been in the seat for a decade or more. We invest in retention and stability, not churn.
Open-book management.
We share financial information across the portfolio. We believe transparency creates better operators and better businesses.
Employee profit-sharing.
We believe the people who build value should share in it. Every business in our portfolio has a path to profit sharing for the team.
Our structure
Permanent capital. No fund clock.
Enduring Ventures is structured as a permanent-capital holding company, not a private equity fund. We have no obligation to return money to investors on a defined schedule.
This matters for sellers because our incentives are completely different from a PE firm’s. We do not need to flip your company in five years to hit an IRR target. We succeed when the business succeeds — year after year, decade after decade.
The team
People behind the work.
Lucien Ong
Founder & CEO
Lucien founded Enduring Ventures to be the long-term home he wished had existed for the founder-owners he spent more than a decade working alongside across Southeast Asia. He was most recently Director of Mergers & Acquisitions and Corporate Development at the Jebsen & Jessen Group, one of Southeast Asia's largest diversified industrial groups, where he helped drive new business development and capital allocation across the region. Earlier, he was an investor at Grab and held roles at JJ-Lapp, the U.S. Department of State, APEC, and National Australia Bank. He has lived and worked in Singapore, the Philippines, Cambodia, Indonesia, and Melbourne. Lucien holds an MBA from INSEAD. He is also Director of Yutaka, Enduring Ventures' platform acquisition.
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