KK Fund made first close of its second venture fund. While the firm did not disclose the target size of the fund, it plans to invest in early stage startups in Southeast Asia, Hong Kong and Taiwan.
The investors include Japanese venture capital firm Incubate Fund which was a key investor in first fund as well. It also saw participation of Sega Sammy Holdings and Septeni Holdings, startup studio and investor Mistletoe and few other unrevealed family offices and individuals from Japan.
KK Fund’s ability to value add to early stage startups and its strength in aligning the interest of our investors to the growing opportunities in the region will continue to serve as the key factors in propelling our growth.
Koichi Saito, General Partner of KK Fund, said in an official statement.
Founded in 2014 by general partners Kuan Hsu and Koichi Saito, the firm will focus its investments in Marketplaces, Fintech, Logistics, Media and Entertainment akin to its first fund. The firm’s first venture fund, which is yet to be fully deployed has invested in thirteen startups with its most recent investment in Taiwanese startup Hellowings. It had an average spending of $200,000 per startup but plans to increase the number to $400,000-$500,000, which is indeed a great amount for seed or pre-Series A rounds.
The team expects the final close of its second fund before the end of the year, and it has already started working on potential transactions. It is majorly looking for companies with a product or early release, already launched in the markets. While it is largely targeting Southeast Asia region, it aims to widen its deals in Hong Kong and Taiwan with the fund.
We continue to see opportunities for technology startups in Southeast Asia, driven by improvements in infrastructure and regulations. Entrepreneurs in the region, including Hong Kong and Taiwan, are also maturing alongside the ecosystem which led us to launch our second venture fund.
commented Kuan Hsu, General Partner of KK Fund.