SIP Global Partners hits $75m first close of debut venture fund

Kabukicho, Tokyo, Japan. Photo: Fabrizio Chiagano

SIP Global Partners, a US- and Japan-headquartered venture capital firm, has made a $75 million first close of its debut fund that seeks to invest in early-stage US startups with the potential to expand into Japan and other Asian markets.

The fund, which targets $150 million in total commitments, has already made five investments and continues to look at late seed to Series B-stage firms that have a product that is ready to expand in Asia and the Gulf region, according to a company announcement.

SIP’s portfolio includes Fable, a web-based, full-stack motion design tool; Croquet, an ultra- low latency, collaboration platform; Tilt Five, an AR platform set to revolutionize gaming; Parallel Wireless, a next-generation O-RAN technology company; and KINETIC, an industrial IoT technology focused on workplace safety and productivity.

The firm said it provides US startups an entry point to scalable market opportunities in Asia, starting with Japan.

“It’s no longer axiomatic that a US startup waits until a Series C or D round to enter Asia markets. In fact, we see as early as US seed-stage startups already in Asia, and over 90 per cent of our pipeline is expanding or actively considering expansion,” said Shigeki Saitoh, SIP Global Partners co-founder and managing partner.

Saitoh is the former director of the Japan Venture Capital Association. He, along with Justin Turkat, who is also based in Japan, and US-based Jeffrey Smith and Matthew Salloway, launched SIP.

According to the firm, the debut fund invests in companies poised for large scale growth in Asia across three key themes: Creativity (AR/XR, Synthetic media, Web-based platforms), Productivity (AI/ML, Edge Computing/IoT, Semiconductors), and Safety (Digital health, Information security).

“Though international travel is limited today due to the COVID-19 pandemic, opportunities in Asia persist, and we look forward to helping companies unlock those opportunities,” Justin Turkat, SIP Global Partners co-Founder and managing partner, said.

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.