Singapore-based VC Jubilee Capital Management launched $100 million Jubilee Tech Fund (JTF) to invest in post-seed to Series A stage tech startups. Mainly focused on Singapore, Southeast Asia, China, Israel and the U.S., today Jubilee Capital announced the first close worth $30 million for the tech-startup fund.
With the fund, the VC firm aims to help China-based startups crack international markets including Silicon Valley, and enable global startups to enter the Chinese market. JTF will primarily focus to bridge the gap between Israel’s and China’s tech ecosystem.
Gan Fong Jek, the founding partner of Jubilee Capital Management, a senior corporate venture capital and M&A professional who has worked in Temasek-owned corporations and a large media firm in Indonesia, says,
We also see more Israeli entrepreneurs more willing to switch their market interest from America to Asia including China and Asean. Being headquartered in Singapore, we see an opportunity for Jubilee Capital to position ourselves as a bridge between outbound Israeli technology start-ups who are interested to enter Asian markets.
He added on to say in the official press release that more and more Chinese investors are seen heading to Israel to scout for new technology to invest or procure for the China market. The firm is working to bring international startups the much-needed access to the Chinese market and Chinese startups.
Jubilee Capital was founded last year by Stanley Zhang, George Gong and Gan Fong Jek, the three EMBA alumni of Tsinghua University. Stanley was the founder of HiChina in China which was later was acquired by Alibaba Group. George co-founded Beyondsoft, an enterprise software service provider listed on Shenzhen Stock Exchange.
Apart from Singapore, Jubilee has a strong overseas network in Auckland and Beijing. It is also working to establish strategic partnerships in Tel Aviv, Israel and Silicon Valley, US.