Velocity Ventures hits first close of $20m SE Asia-focused hospitality, travel fund

Source: William Bayreuther/Unsplash

Singapore-based Velocity Ventures has hit the first close of its $20-million Southeast Asia-focused hospitality and travel fund, according to a statement.

The venture firm shared that it has secured $8 million or 40% of its fund target corpus, with capital raised from family offices, high net worth individuals and other institutional investors. Velocity aims to reach its final close by the end of 2021.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter