Genesis Alternative Ventures Raises $125 Million for Second Venture Debt Fund

Genesis Alternative Ventures, an investment firm for startups in Southeast Asia, has successfully raised a commitment of $125 million or equivalent to Rp1,9 trillion for venture debt fund (venture debt fund) both of them. This fund will focus on investing in technology startups in the Southeast Asia region.

About 80% of investors from the first fund returned to participate in the new fund, including Aozora Bank, Korea Development Bank, Mizuho Leasing, Sassoon Investment Corporation, and Silverhorn. New investors joining this time include Mizuho Bank, a major Japanese bank, and OurCrowd, another global investment platform.

In August 2023, Genesis also announced partnership with Superbank, an Indonesian digital bank, to provide funding of up to $40 million, around Rp600 billion, for promising technology startups in Indonesia. Superbank itself has major shareholders such as Emtek, Grab, Singtel, and KakaoBank.

Additionally, Genesis announced the appointment of Philip Yeo, former Chairman of the Singapore Economic Development Board, to its Advisory Board. Yeo is a senior figure in technology investment in Southeast Asia and is expected to provide strategic guidance for Genesis’ future growth.

Dr. Jeremy Loh, co-founder and Managing Partner at Genesis, expressed his gratitude for the continued support from investors. "We are also pleased to welcome Mizuho Bank as a strategic investor in this second fund, as well as the addition of Philip Yeo to the Advisory Board who brings extensive experience and vision in the technology and investment sectors," he said.

So far, Fund II has disbursed over $20 million in venture loans to startups in Singapore, Indonesia, Malaysia and the Philippines. Dr. Loh added that the current startup profile is more focused on efficient structures and mindset that prioritizes profitability. Genesis portfolio companies demonstrate this new direction, positioning themselves for long-term sustainability.

Meanwhile, Yasuhiro Kubota, Managing Executive Officer and Co-CEO of Mizuho Bank for the Asia Pacific region, expressed his excitement about the partnership with Genesis. "Southeast Asia is a very exciting region with a thriving startup ecosystem. We are confident that this partnership will accelerate the growth of promising companies with access to capital, industry networks, and expertise led by Genesis," he explained.

In Indonesia, Genesis has a number of investment portfolios, including Saturdays, HappyFresh, and RateS.

-

Disclosure: This article was produced with AI technology and supervision of the content writer