Singapore’s Hatcher exits two portfolio firms via ASX route

Australian Securities Exchange. REUTERS/Steven Saphore

Singapore-based venture investment firm Hatcher has exited two of its portfolio companies — a cloud software platform Dropsuite and gaming development firm Inzen Studio — both via listings on the Australian Securities Exchange (ASX).

Dropsuite hit the ASX late last year through a backdoor listing via Excalibur Mining Corporation, raising $5.3 million at the time. The second portfolio company Inzen Studio was last month acquired by ASX-listed iCandy Interactive Ltd.

“These exits are great news for Hatcher shareholders, and for all shareholders of Dropsuite and Inzen Studio. Only the best companies and CEOs make it all the way to the public markets…,” said John Sharp, the firm’s Co-Founder and Partner said in a statement on Tuesday to formally announce the two exits.

Dropsuite was founded in Singapore in 2012, and funded primarily by Hatcher up until its recent listing on the ASX. It provides backup-as-a-service to more than 40 other large hosting companies worldwide, including GoDaddy, GMO, and Dreamscape Networks.

Last year, as a preparation for listing, Dropsuite had re-branded itself altering its previous name Dropmysite.

The company recently announced annual subscriber growth of 368 per cent and now services more than 160,000 paid subscribers. In addition to Dropsuite’s CEO, ex-Google senior executive Charif Elansari, Theo Hnarkis has joined the board as non-executive Chairman.

On the other hand, Inzen Studio also founded in 2012 by a team of ex-MIT game developers has received backing from Hatcher, Chinese search giant Baidu, and Tokyo-based Incubate Fund, among others. Now the firm sits in the portfolio of iCandy that was listed at ASX in early 2016.

Among Hatcher’s other active portfolio companies include a provider of payment services in the Middle East based in Dubai Telr; Delhi-based big date firm SocialCops; ThoughtRiver, AI-based legal services start-up based in Cambridge; ASYX,a trade finance technology platform based in Jakarta, and Hatcher+, a new data-driven venture investment platform co-founded by Sharp and Wissam Otaky, also a partner at Hatcher, and Dan Hoogterp, former Bankrate senior executive, technology and big data leader.

2012-founded Hatcher began as an investment holding company with a focus on early-stage ideation and venture-building. Over the past four years, the company has raised and invested $20 million dollars into 13 portfolio companies, and placed over $100 million dollars in additional investment into its companies, via its Hatcher Stack platform.

Also Read:

Hatcher launches early-stage venture fund with target of $100m

Singapore: Hatcher-backed Dropmysite rebrands itself as Dropsuite ahead of global push

iCandy completes acquisition of SG mobile game company Inzen

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.