Singapore: Formation 8 partners to split, launch new funds

Visual from the company website

Formation 8 will be launching a new fund, according to Brian Koo, the venture capital (VC) firm’s co-founder and managing partner. Founded with Joe Lonsdale and Jim Kim in 2011, the firm has invested in excess of $1 billion across seven startups. Their most notable investment is Oculus VR, which was acquired by Facebook in a $2-billion corporate buyout.

Tech in Asia reported that, based on a letter to investors obtained by them, Koo intends to establish a new fund under the Formation Group – a new entity that Koo described as the “evolution of Formation 8”. Formation 8’s Asia-focused special purpose vehicle will become the new Formation Group venture, with Yello Financial Group becoming part of its portfolio.

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