By Kristie Neo
Other investors in the latest funding round include Temasek Holdings, Greenoaks Capital and other institutional investors.
According to an executive familiar with its fundraising plans, the VC has set the fund’s hard cap at $150 million, adding a $30-million buffer to its initial target of $120 million.
VinaCapital Ventures chose the holding company model over a fund model because it did not want an exit deadline looming over its investments. The structure also helps it pursue other models of strategic financing such as joint ventures and co-investments with conglomerates.
Kejora founder and managing director Sebastian Togelang said the exact amount for the final close could not be disclosed, but confirmed that it was slightly below the $80-million target as reported earlier by DEALSTREETASIA.
The deals announced in Q3 2018 pushed the cumulative deal value in 2018 so far to $195 billion. This marks a new record, shooting past 2017’s full-year total of $189 billion.
Over the past three years through 2017, San Francisco startups won the most investment dollars, $81.8 billion. Beijing startups came close behind at $72.8 billion.
The firm will look to enter new areas and sectors such as citizen-focused legal services, property rights and public platforms.
India Dealbook: Priyanka Chopra backs US startups; InnerChef bags $1.76m; NeoStencil in funding talksBy Pramugdha Mamgain
Chopra’s investment is part of an $8.2 million funding round for Holberton, which reportedly closed in April.
The US represents the largest limited partner (LP) base, followed by a diversified group of investors from Europe, the Middle East, Singapore and China.
The latest round is led by the family office of Japanese investor Joe Hirao, founder of ZIGExN.