Singapore-based Jubilee Capital hits first close for $100m tech-startup fund

Singapore-based Jubilee Capital Management has announced the first close of its $100 million Jubilee Tech Fund — a venture capital fund for tech startups in Singapore, Southeast Asia, China, Israel and US, raising $30 million from investors in China and Singapore.

The early-stage investment firm’s fund is aimed at investing in post-seed to Series A stage tech startups, it said in a statement issued today.

“We see a growing trend of accomplished and experienced entrepreneurs from China coming out to Singapore and South East Asia to look for new business opportunities in Asean and International markets,” says Jubilee’s co-founder and Chinese entrepreneur George Gong.

Jubilee Capital was founded last year by Stanley Zhang, George Gong and Gan Fong Jek, the three EMBA alumni of Tsinghua University. Stanley was the founder of HiChina in China which was acquired by Alibaba Group in 2013.

George was the co-founder of Beyondsoft, an enterprise software service provider listed in Shenzhen Stock Exchange while Fong Jek is a senior corporate venture capital and M&A professional who has worked in Temasek-owned corporations and a large media conglomerate in Indonesia.

With regard to the markets the fund is focusing for investments, Fong Jek said that the firm is witnessing more and more Chinese investors going to Israel to scout for new technology to invest, or procure for the China market.

“We also see more Israeli entrepreneurs more willing to switch their market interest from America to Asia including China and Asean. Being headquartered in Singapore, we see an opportunity for Jubilee Capital to position ourselves as a bridge between outbound Israeli technology start-ups who are interested to enter Asian markets,” he added.

The firm noted that it could bring international startups the much needed access to Chinese market and capital and Chinese startups, Jubilee has a strong overseas network in Singapore, Beijing and Auckland and establishing strategic partnerships in Tel Aviv, Israel and Silicon Valley, US.

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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.