<article>Los Angeles-based venture capital firm <a style="color: #000080;" href="http://11zulucapital.com/" target="_blank">ELEVEN:ZULU Capital</a> has launched a $100 million Pan-Asia and US fund, which it started fundraising for about three months ago.</article>

Los Angeles-based venture capital firm <a style="color: #000080;" href="http://11zulucapital.com/" target="_blank">ELEVEN:ZULU Capital</a> has launched a $100 million Pan-Asia and US fund, which it started fundraising for about three months ago.
&#8220;Not even 30 per cent has been closed,&#8221; said Eunse Lee, founder and special partner at the firm, to DEALSTREETASIA over the phone. He expects the fund to hit its first close in May with 30 to 40 per cent of capital committed, and declined to share which companies the firm has secured as Limited Partners (LPs).
<figure id="attachment_36732" aria-describedby="caption-attachment-36732" style="width: 550px" class="wp-caption alignnone"><a href="http://www.dealstreetasia.com/wp-content/uploads/2016/04/Eunse02-e1460077187567.gif" rel="attachment wp-att-36732"><img loading="lazy" decoding="async" class="wp-image-36732 size-full" src="http://www.dealstreetasia.com/wp-content/uploads/2016/04/Eunse02-e1460077187567.gif" alt="Eunse Lee" width="550" height="582" /></a><figcaption id="caption-attachment-36732" class="wp-caption-text">Eunse Lee, Founder and Special Partner, ELEVEN:ZULU Capital</figcaption></figure>
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Lee also said that the company is looking at raising a parallel fund for Asia exclusively. The parallel fund, which can go from $50 million to $100 million, will be a separate entity.
According to him, ELEVEN:ZULU Capital is in serious discussions with around five startups, and will limit itself to 20 portfolio companies for the entire fund. Typically, the firm will write cheques ranging from $3 million to $5 million, and lead or participate in Series A or B rounds.
As Lee does not invest in the seed stage, he claims to have forged good ties with various early-stage venture capital firms in Asia, including KK Fund, and a number of companies in South Korea, China and Japan. This will create a pipeline of startups for his company to invest in, when the time is right.
In terms of industries, the venture capital firm will focus on investing in startups in the enterprise software, e-commerce with fintech, and healthcare technology sector.
He added that many of the tech companies that have successful exits are from the aforementioned sectors. For example, out of the biggest 20 VC-backed exits that happened in 2015, at least nine of them are enterprise or healthcare tech companies, according to this <a style="color: #000080;" href="http://www.businessinsider.sg/the-20-biggest-vc-backed-company-exits-of-2015-2016-1/#.VwX_jxN95lA">report</a>.
Lee continued that while he would like to back companies in Asia that wish to go global, he is also looking to finance companies that are able to dominate their own respective regions.
Currently, Lee is the only general partner at ELEVEN:ZULU Capital, alongside two associates, three venture partners and four advisors.
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The firm is also looking to set up a parallel $50m to $100m fund for Asia exclusively that will run as a separate entity

ELEVEN:ZULU Capital launches $100m Pan-Asia and US fund

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