KK Fund Prepares Fund II for Southeast Asia, Hong Kong, and Taiwan Startup Funding

Singapore-based KK Fund announced that it had closed its Fund II funding, although it did not disclose the amount of the fund under management. Fund II is targeted to fund startups in the early stages (pre seed and seed) in Southeast Asia, Hong Kong, Taiwan.

General Partners KK Fund Koichi Saito told DailySocial, "Our first fund usually provides $200 thousand [around Rp. ,2,6 billion] in stages pre seed and seed."

KK Fund II will continue to focus on finding startups in the Marketplace, Fintech, Logistics, and Media/Entertainment segments. The first phase of the fund invested in a total of 13 startups. Indonesian startups that receive funding from the KK Fund are: Fabelio.

A number of new investors who entered Fund II include Saga Sammy Holdings, Septeni Holdings, Mistletoe, a number of family companies and individuals from Japan.

Saito said in the release, "KK Fund's ability to assess early stage startups and their strengths is in line with our investors' desire to [capture] the growing opportunities in the region and will continue to be a key factor to boost our growth."

Saito was previously the Director of IMJ Investment Partner who has also invested in a number of Indonesian startups.

KK Fund also announced the joining of Honma, Co-Founder and General Partner of Incubate Fund, as Partner. Prior to founding the Incubate Fund, Honma founded and ran mobile game developer Pokelabo, managed an angel fund for 5 years, and also worked at investment firm Mitsubishi Corporation Group.