Cocoon Capital Sets Up $20 Million Investment Fund for Early Stage Startups in Southeast Asia

Singaporean venture capitalist Cocoon Capital has announced that it has set up a new $20 million fund to invest in startups in Southeast Asia. They will focus on startups working on solutions in the field of enterprise-tech with vertical covers deep tech, fintech, and Medtech.

"We see the potential of startups in the region with young talent and tech-savvy who understand how to use technology to solve real problems. The quality of the idea has gone beyond what could be imagined. Southeast Asia is proving to be the right path for innovation goals," said Michael Blakey, Co-founder & Managing Partner of Cocoon Capital.

Cocoon Capital targets early stage startups. Not only in Singapore, they will also spread their wings to other countries such as Vietnam, the Philippines, and Indonesia. This is done because Cocoon Capital feels that there is still a gap in investment or funding for startups.

"With billions of dollars available from venture capital for this region only a small part is targeting startups (early stage). Cocoon Capital trying to fill this gap. Funding gaps are even more common outside of Singapore, which is why we are expanding our reach to neighboring countries," added Cocoon Capital Co-founder & Managing Partner Will Klippgen.

Currently Cocoon Capital is supported by several investors such as Vulpes Innovative Technologies Investment Company, Martin Hauge, Playfair Capital, and several others. In addition to providing funding assistance, Cocoon Capital also seeks to bring business experience and connect strategic partners to startups.

Cocoon also limits the amount of investment made per year, so that partners have sufficient time to provide their support. In its newest portfolio, Cocoon Capital is involved in funding PropertyGuru and Anchanto.

"Southeast Asia has proven to have the ability to produce the best [startups], unicorns, and the approaching unicorns; including Grab, Tokopedia, Gojek, Razer and PropertyGuru. Startups here reached $8 billion in 2017, three times what it was in 2016. We predict continued increases for talent and capital in the region in the next few years," Will added.