VC KK Fund invests extensively in Malaysia: Report

Visual of KK Fund website

Singapore-based KK Fund is investing heavily in the Malaysian startup ecosystem and also the emerging markets like the Philippines and Indonesia, says a media report by Singapore-based web technology portal e27,

One of the investments that KK Fund has made is a $250,000 seed investment in Malaysia-based Be Malas and led the  $500,000 seed round. Commenting on the deal, Koichi Saito, the general partner and founder of KK Fund, explained, “The reason is that ‘chatty commerce’ is becoming a trend.”

Essentially, Be Malas is a Malaysian clone of US-based Magic and Operatorwhich provide 24/7 SMS-based, on-demand delivery services. With these apps, users form an outbox of requests that are routed to human operators affiliated with the relevant product category, brand or store, providing purchase options and a delivery service that users can select.

An earlier $550,000 seed investment in Kaodim in February 2015 (led by East Ventures and with participation from other VCs like 500 Startups) also saw KK Fund invest $200,000 in the marketplace.

Incidentally, this was KK funds first investment. Saito commented on the investment: “This is a clone business of a… proven business models [in the US]. They have a first-mover advantage in Southeast Asia, and actually after our investment a lot of competitors are coming up.”

KK Fund has also made a third investment in Malaysian online marketplace venture, thought this particular venture funding event has not been made public. According to Saito, the founder wishes to remain anonymous and quietly work towards a Series A round.

Saito expressed positive regard for Malaysian founders, noting that, in his experience, Malaysian founders were reliable, possessed a global outlook and were well-spoken. He also noted that their ventures often aimed to have a first-mover advantage and scale quickly after receiving capital infusions from VCs.

Future investments have been made into Indonesian and Filipino ventures. with one being a furniture marketplace and the other being a financial venture, with both deals already signed, according to the report.

Related Stories: 

East Ventures, 500 Startups lead seed funding for Kaodim

Malaysia’s IkanPaos Kolektif raises seed funding from angel investment firm Qeerad

Series A to B space in Malaysia being filled up gradually: MVCA

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.