<article>Singapore-based venture capital firm <a href="https://www.dealstreetasia.com/?s=Openspace Ventures" target="_blank" rel="noopener noreferrer">Openspace Ventures</a> has achieved the final close of its second fund at $135 million with investments from <a href="https://www.dealstreetasia.com/?s=Stepstone Group" target="_blank" rel="noopener noreferrer">StepStone Group</a> and state investment firm <a href="https://www.dealstreetasia.com/?s=Temasek" target="_blank" rel="noopener noreferrer">Temasek Holdings</a>, the firm announced on Tuesday.</article>

Singapore-based venture capital firm <a href="https://www.dealstreetasia.com/?s=Openspace Ventures" target="_blank" rel="noopener noreferrer">Openspace Ventures</a> has achieved the final close of its second fund at $135 million with investments from <a href="https://www.dealstreetasia.com/?s=Stepstone Group" target="_blank" rel="noopener noreferrer">StepStone Group</a> and state investment firm <a href="https://www.dealstreetasia.com/?s=Temasek" target="_blank" rel="noopener noreferrer">Temasek Holdings</a>, the firm announced on Tuesday.
Other investors in the second fund include institutional investors from the US, Australia, Europe, Japan, China, Korea and Singapore including pension funds, university endowments, insurance companies and family offices, it said in a statement.
DEALSTREETASIA had <a href="https://www.dealstreetasia.com/stories/singapores-nsi-ventures-to-raise-150m-second-fund-77812/">reported in July last year</a> that Openspace, then known as NSI Ventures, was ready to kickstart the process to raise its second fund. The firm had raised its inaugural $90-million fund in 2015. Openspace now has secured $225 million in total committed capital from its limited partners.
&#8220;We have the resources now at Openspace to continue to be very hands-on in building value into our portfolio. We have seen immense opportunities from being able to work with our portfolio company to solve complex on-ground regional execution issues and we will intensify our efforts in these areas,&#8221; Openspace Ventures founding partner Hian Goh said.
Founded in 2014 by Goh and Shane Chesson, Openspace focuses on Series A and B investments in technology companies based in Southeast Asia across fintech, healthtech, edtech, consumer applications and cloud-based solutions segments.
Openspace was one of the early backers of Indonesian ride-hailing unicorn Go-Jek. It has to date invested in 19 companies, including Singapore&#8217;s fast fashion e-commerce player Love, Bonito, Vietnamese online education company Topica, Indonesian online credit provider FinAccel and Bangladesh’s ride-sharing player Pathao.
Openspace claims to have helped raise over $2.6 billion of follow-on capital for its portfolio companies so far, including 13 Series B rounds.
Openspace Ventures was previously a unit of private equity firm Northstar Group. It rebranded from NSI Ventures to Openspace in April this year after deciding to go independent.
Venture capital firms are increasingly raising larger funds to invest in Southeast Asian startups. Singapore-based Golden Gate Ventures is raising a $100-million fund and made a first close at over $65 million recently. Indonesia&#8217;s Kejora Ventures is also looking to hit the final close of its $100-million fund with partner Intervest by the end of this year.

Openspace Ventures has achieved the final close of its second fund at $135 million with investments from StepStone Group and state investment firm Temasek Holdings.

Openspace Ventures closes second Southeast Asia fund at $135m, LPs include Temasek

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Openspace Ventures closes second Southeast Asia fund at $135m, LPs include Temasek

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