Openspace Ventures invests in Biofourmis from new opportunity fund

Singapore-based venture capital firm Openspace Ventures has announced the first investment from its new opportunity fund, OSV+, which is focused on mid-stage technology investing.

In a statement, the VC firm said OSV+ made the investment in Singapore-based health analytics platform Biofourmis, which had raised $100 million in a Series C financing round led by SoftBank Vision Fund 2 on September 3.

The firm added that OSV+ will primarily participate in mid-stage rounds in existing Openspace portfolio companies, which are currently attracting strong interest from mid-stage investors.

“It will also selectively make new growth-stage deals in investments that can benefit from the Openspace approach to supporting technology and strategy development across Southeast Asia,” Openspace said.

DealStreetAsia’s queries to Openspace about the new fund, including its size, had not received a response at the time of publishing.

In July, the VC firm raised over $90 million for the first close of its $200 million third Southeast Asia fund, DealStreetAsia has reported.

With OSV+, Openspace now operates four funds across the region, according to founding partner Shane Chesson.

Senior hires

Additionally, Openspace also announced the appointment of new senior members to its team in Southeast Asia. These include Jessica Huang Pouleur, who will be joining as executive director and member of the investment committee of OSV+, and Aristo Setiawidjaja, who will be joining as senior advisor for Indonesia.

Pouleur was head of strategy & business development, Asia Pacific for The Walt Disney Company, based in Singapore (including Southeast Asia, India, Greater China, Japan, Australasia, and the Middle East), while Setiawidjaja was board member and managing director of Hermina Hospitals, the largest private hospital network in Indonesia.

Openspace Ventures is one of Southeast Asia’s most prolific and active venture capital firms that invests in early-stage startups across the Series A and Series B stages.

Some of its notable portfolio companies include Indonesian ride-hailing super app Gojek, fintech startup Finaccel, and Filipino online entertainment app Kumu.

The venture firm has also made a few exits from its portfolio, such as Redmart, which was acquired by Lazada in 2016, Jualo, which was acquired by Carro in 2019, and most recently, TradeGecko, the Singapore-based inventory management software maker, which was acquired by financial software giant Intuit for a reported $80 million.

Openspace also pared its stake in Australia Securities Exchange-listed cloud communications startup Whispir during its 2019 IPO. It continues to remain invested in the firm, according to its website.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.