BEENEXT’s $75m-plus VC fund spins out from Singapore’s Gordian Capital

Supertrees at Gardens by the Bay in Singapore.

BEENEXT, a Singapore-based venture capital firm investing in early-stage technology companies, today announced that it had spun off its $75- million-plus fund from the Gordian Capital platform, and added that it was also forming its own asset management company.

BEENEXT invests in early-stage startups across Southeast Asia, India, Japan and the US.

This vehicle, which was launched over two years ago, and has a corpus in excess of $75 million, will look to invest in the areas of marketplaces, payments, fintech, and software-as-a-service, the company said in a statement. This fund made over 80 investments to date.

“Although we have many years of venture capital investment experience, we had limited experience in establishing a fund, tax matters and structuring as well as the operational and regulatory aspects of operating a fund. Gordian Capital was very helpful and handled all those activities allowing us to focus on investing and working with our investee companies and giving us the flexibility to build our own brand,” said Teruhide Sato, Founder and Managing Partner of BEENEXT Capital Management Pte. Ltd.

Sato, a veteran of Asia’s VC scene, was previously chief executive of BEENOS and took it public on the Tokyo Stock Exchange’s Mothers market in 2004. His notable investments include Tokopedia, Midtrans, CitrusPay, KartRocket, Akakce, Iyzico and Aucfan.

“With our first fund reaching full investment stage, we felt it was time to spin out and establish our own asset management business. Gordian Capital was certainly a great launchpad,” added Hironori Maeda, Managing Partner, BEENEXT Capital Management Pte. Ltd

Maeda launched Japan’s first startup accelerator program “Open Network Lab” in partnership with Digital Garage, Kakaku.com and BEENOS in 2010. Having invested in over 40 companies, his notable investments include Instacart, FundersClub, Everlane, Fril, Qiita, Fond, Virool, Skimlinks, Screenhero, and Lob.

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.