Openspace Ventures, a Singapore-based VC agency backed by state investor Temasek Holdings, has closed its third Southeast Asian fund at US$200 million, Bloomberg has reported.
The agency’s whole dedicated capital underneath administration now stands at US$425 million unfold throughout its three funds, the report acknowledged, quoting co-founders Shane Chesson and Hian Goh in an interview.
Buyers becoming a member of the newest fund embody Germany’s DEG, Norway’s Norfund AS, Japan’s Mizuho Monetary Group and US-based asset administration agency 57 Stars LLC.
Launched in 2014, Openspace was an early investor in unicorns together with Indonesian ride-hailing big gojek and Singapore-based healthtech firm Biofourmis.
Boasting 33 firms from throughout 12 nations, the agency’s portfolio contains Filipino media platform Kumu, Indonesian healthtech startup Halodoc and TaniHub, an Indonesian agritech startup.
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“Our friends might do extra offers, however our hit price has been excessive,” famous Chesson within the Bloomberg interview. It was reported Openspace’s debut US$90 million fund returned 35.3 per cent.
In January 2021, the agency was amongst a gaggle of latest buyers who took half in a pre-Sequence B funding spherical in Zenius, an Indonesian edutech firm that focuses on growing important considering and scientific reasoning.
The information of Openspace’s newest fund comes amid a flurry of enterprise exercise within the area. Final month, Taiwan-based accelerator AppWorks introduced it raised US$114 million for its third fund, which can make investments into Sequence A and B startups in Taiwan and Southeast Asia.
Final week, B Capital Group, which counts Fb co-founder Eduardo Saverin amongst its management workforce, launched its US$126 million Ascent Fund II focusing on seed and Sequence A startups within the area.
Picture Credit score: Openspace Ventures
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