Japan’s Ocean Capital Inc also joined the round.
By Tanu Pandey
Cradle is transforming itself into a full-fledged VC.
Co-working space Impact Hub Singapore has launched an S$1 million seed fund to invest in early-stage startups. The fist community/co-work space too launch such a fund in Singapore, investors in the Hub Ventures Fund includes family offices, high-net-worth individuals (HNIs), as well as members of The Hub’s community.
Online grocer Freshcart has secured $500,000 in seed funding from KK Fund, Cradle Fund and other private investors to launch its portal for office supplies and services Supplycart.
The government-backed agency currently has a co-investment partnership programme where it matches the funds raised by co-investors. It has partnered with 28 co-investors till now with a cumulative investment figure that has reached $171.2 million, Cradle Fund Sdn Bhd CEO Nazrin Hassan said.
KK Fund’s first venture fund has made thirteen investments. Save for one of its most recent investments in Taiwan, the rest of the portfolio was focused within Southeast Asia. Hong Kong will be a new market for KK Fund.
FNV chief executive officer, principal investor & advisor John Orrock, said the latest investment has improved the firm’s portfolio of startups engaged in online marketing lead generation solutions.
Eunse Lee, founder and special partner at the firm, said the fund expects to hit its first close in May with 30 to 40 per cent of capital committed. The company is looking at raising a parallel fund for Asia exclusively.
Japanese-backed and Singapore-based seed stage investor KK Fund is on the prowl for deals in the fintech and logistics segments, as the firm looks to tap into innovations in these sectors, a top official said. KK Fund founder and general partner Koichi Saito said he had been observing these the two… Read more »