Rest of Asia
The life insurance company will be the limited partner in the fund.
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It is targeting $300m for its fourth early-stage fund and $350m for its second growth vehicle, OSV+.
Gobi is investing through its Malaysia-focused fund Gobi SuperSeed II.
The CVC plans to raise upto $90m from parent Bangkok Bank this year, says MD Krit Phanratanamala.
The second fund has already backed nine firms including FXDX, Dogami, and Health Hero.
The latest fund will invest in India- and US-based technology firms.
Fund II exceeds Foxmont’s $20-million target.
Lendable contributed $20m while The City Bank chipped in with $10m.
The US firm had raised $25m for Fund IV in 2019.
The Series B round takes the company’s valuation to $1.2b.