Weng Kin Choo, Managing Partner (Investments) of JCP
Tech investment firm Journey Capital Partners today announced the launch of its debut venture capital (VC) fund which targets Series A startups in Southeast Asia (SEA), with a focus on Indonesia, Singapore, and Thailand.
In a press statement, the firm said that it has a “strong” investor base in Thailand and aims to facilitate cross-border expansions of Indonesian and Singapore startups to Thailand.
In Indonesia, its partners included “leading conglomerates with a large footprint in the technology sector to support its portfolio companies.” Meanwhile, in its home country Thailand, its list of partners included VFX, animation and VR studio Yggdrazil Group, who will give strategic support to portfolio companies within the media, gaming and entertainment industry.
“Journey Capital Partners is proud to have partners in Indonesia and Thailand which can provide strategic advantages to our portfolio companies. We aim to bridge these relationships with our portfolio companies through our strong operational capabilities. We will also focus on supporting tech companies with proven product-market fit and business models on supply-side challenges spanning business operations, supply chain, business intelligence to fundraising and acquisitions. Execution for us is a priority,” said Weng Kin Choo, Managing Partner (Investments) of JCP.
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Earlier today, e27 covered a funding announcement by Indonesian foodtech startup Hangry, which raised a US$22 million in funding led by Journey Capital Partners. The startup stated that it is planning to start expanding to the SEA region in 2024 with this new funding.
Prior to the launch of Journey Capital Partners, Weng Kin Choo was the Vice President and key member of Provident Growth since its inception, overseeing growth-stage technology investments in Southeast Asia.
The team also consists of Lloyd Lin, Managing Partner (Strategy and Operations), formerly the Regional Vice President of Strategy & Ops at Pomelo Fashion. He joined the firm a year before their Series A funding round in 2015.
Managing Partner (Investments and Technology) Ashok Palaniappan was previously the founder/CEO of nobos, a technology company that sold a suite of SaaS tooling to large-scale hospitality businesses in the US and SEA. Previously, he worked as a public/private equity investor at a New York-based hedge fund and started his career at Morgan Stanley.
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Image Credit: Journey Capital Partners
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