Hong Kong- and Singapore-based Betatron Venture Group has secured a $15 million first close of its fourth fund, BVG IV, the venture capital firm announced on Wednesday. The fund will invest in asset-light, B2B tech companies across Asia (excluding mainland China).
Betatron targets to raise $50 million for the vehicle to digitise Asia’s largest industries, including logistics, healthcare, commerce, and construction.
The fund will invest in startups operating in India, the Philippines, Bangladesh, Pakistan, Vietnam, Hong Kong, and Singapore — markets where SaaS adoption rates are growing fastest globally.
The fund plans to make investments with a ticket size of $500,000 and $2 million in seed to Series A rounds keeping the option to make follow-on investments.
“Strong investor interest in our new fund allowed us to upsize the first closing by 50% within only a few weeks of taking subscriptions,” said managing partner and CEO Matthias Knobloch.
“We’re funding companies just when they’re poised to scale,” says Managing Partner Arshad Chowdhury. “The typical Betatron portfolio company has meaningful traction, strong unit economics, a competitive advantage, and capable leadership. We’re not investing in deep tech or experimentation; we’re funding strong teams with an aggressive sales force that can become market leaders. Our capital is fuel for growth.”
Betatron is an early-stage tech VC fund with offices in Hong Kong and Singapore. Having made its first investments in 2017, Betatron Venture Group’s portfolio today includes 47 companies. In the past year, Betatron delivered two exits and is currently working on its third.
Portfolio companies include Phable, an Indian medical platform, and TruckLagbe, a Bangladesh-based platform for booking trucks. Phable recently raised $25 million in its Series B, while Truck Lagbe’s Series A was led by IFC.
Another venture capital firm targeting investments in Southeast Asia and India is Singapore-based Jungle Ventures, which raised $600 million for a new fund backed by new and existing investors including Temasek.