Taiwan-based AppWorks closes Fund III at $150m hard cap, exceeds target

Taiwan-based AppWorks closes Fund III at $150m hard cap, exceeds target

Team of Taiwan-based venture capital firm AppWorks. Source: AppWorks

AppWorks, a venture capital (VC) firm that invests in Taiwan and Southeast Asia, has reached the final close of its AppWorks Fund III at a hard cap of $150 million, bringing the firm’s total assets under management (AUM) to $212 million.

An investor behind online classifieds platform Carousell and Hong Kong-based logistics firm Lalamove, AppWorks said in a statement on Thursday that most of its LPs re-upped in the Fund III. As its biggest fund to date, the oversubscribed AppWorks Fund III exceeded its initial target of $100 million.

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