Openspace Ventures Plans After Recording Third $200 Million Managed Fund

In the middle of March 2021, Openspace Ventures announced that it had successfully completed the collection of third managed fund with a value of up to $20 million. This funding also brings the total committed capital under management to $425 million.

To DailySocial, Director Openspace Ventures Ian Sikora said Indonesia is an important market for them. In the future they will continue to focus on developing the company's presence in Indonesia.

"Nearly a third of our portfolio is in Indonesia and expect this trend to continue with a third funding. Recently we also presented Aristo Setiawidjaja as Senior Advisor and Jocelyn Susilo as Senior Analyst who are both based in Jakarta. We will continue to develop our local Indonesian team in the coming months."

The first and second funds received by Openspace Ventures were launched in 2014 and 2017. Asked how much investment value will be issued specifically for startups from Indonesia, Ian refused to mention further. However, according to their commitment, they will continue to actively look for potential startups in the country.

"Openspace remains sector agnostic and explores various opportunities in each sector. The third funding will target more than 15 investments in Southeast Asia," said Associate Openspace Ventures Tania Shanny Lestari.

Founded in 2014, the Singapore-based company has a combined portfolio of 33 investments across key sectors including logistics, fintech, agritech, edtech, healthtech, cleantech, and B2B SaaS. Indonesia is claimed to be their key country with several investments that have been disbursed to startups from Indonesia before, such as Gojek, FinAccel, Halodoc, TaniHub Group. The latest incl iSeller, Zenius and Pluang.

The Openspace team consists of 25 people from 12 countries. The company has offices in Bangkok, Jakarta, and Manila; is in the process of setting up an office in Ho Chi Minh City.

Supporting women entrepreneurs

One of the activities that they are currently carrying out to support women entrepreneurs in Southeast Asia is, by launching an activity mentoring specifically for entrepreneur or candidate entrepreneur woman. In addition to celebrating International Women's Day, through this activity Openspace Ventures hopes to expand women's participation in the ecosystem venture capital in Southeast Asia, including in Indonesia.

So far, there have been around 42 participants who have registered for this activity, all of which will be directly supported by the Openspace Ventures team. Some of the information or education that will be provided to participants includes investment, technology, HR, data science, Emotional and Spiritual Quotient (ESQ) & impact.

"For those who want register the opportunity is still open until the end of March. From there, it will be scheduled mentoring sessions as requested skill set. And the mentors will spend about 1-2 sessions with the participants."