Asia Business Channel

Singapore’s Cocoon Capital launches $22 million fund for Southeast Asia

 

Singaporean Cocoon Capital announced that it has raised $22 million USD for early-stage investment tech startups across the Southeast Asia region. This is the company’s second fund will focus on startups in the FinTech, InsurTech and MedTech spaces, as well as companies that offer innovative and unique technologies.

Cocoon also announced that it will begin to host public mentoring on a regularly basis to help grow local entrepreneurial ecosystems. Mentoring will be conducted in Bangkok, Hanoi, Ho Chi Minh City, Jakarta, Manila, Singapore and Yangoon.

Cocoon Capital was founded in 2016 with its first fund boasting a portfolio of 10 early success stories across the Philippines, Singapore and Vietnam. Earlier investments by Cocoon’s senior management include PropertyGuru (Southeast Asia’s largest property portal), Anchanto (The region’s leading logistics SaaS platform) and Tickled Media (Southeast Asia’s largest parent network).


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The Cocoon Capital team: From left, Ine Jacobsen, Will Klippgen, Michael Blakey, and Sia Zong Xi


Michael Blakey, Managing Partner at Cocoon Capital said, “Over the last three years, we at Cocoon Capital have seen a radical improvement in deal quality, in particular from the Southeast Asia countries outside Singapore. The region has gigantic challenges that need to be solved by technology, and we believe we can help founders build and scale their companies faster.”

The tech market in Southeast Asia is accelerating quickly. In 2018 Google and Temasek reported that the Internet economy had a value of $35 billion USD in 2017, had doubled to $72 billion USD in 2018, and was predicted to grow to $240 billion USD by 2025.

Will Klippgen, Managing Partner at Cocoon Capital commented on the new mentoring program the company will initiate and said that, “There is a continuing gap in the region when it comes to hands-on mentoring, in particular at the early stages of a company’s formation, and Cocoon Capital has fine-tuned its operation to provide a tailored and comprehensive support package to our founders.”

Cocoon Capital’s portfolio includes:

• Hapz, an online ticketing company

• Hiip, a Vietnamese AdTech company that provides an automated influencer-matching platform using artificial intelligence and social media data

• Poundit, a Philippines e-commerce company focusing high-end electronics

• See-Mode, a MedTech company that has deployed software that predicts future strokes to hospitals in Singapore and is planning a global roll-out

• SensorFlow, a CleanTech company, which is saving energy across 20,000 hotel rooms

 

 

 

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