Beamstart co-founders Kenneth Ho (L) and Wallace Ho
Singapore-based Beamstart, the company behind global entrepreneurial platform and resource database beamstart.com, is launching a US$10 million digital accelerator fund for Southeast Asia.
The fund, which will be launched in several weeks and begin deploying capital as early as Q2 2021, will focus on investing in technology startups in their earliest stages.
The firm will be spearheaded by co-founders Kenneth Ho and Wallace Ho (not related), along with a financial services partner from Singapore.
Also Read: iSeed SEA launches micro-fund targeting Indonesia, Vietnam, Thailand
Limited Partners for the fund will include high-net-worth individuals and family offices from China, Japan and Indonesia.
While investments will predominantly be sector-agnostic, Beamstart looks to invest in experienced teams focusing on tackling cross-border digital-related solutions in emerging markets with potential synergies to partner with China/Japan/US corporates.
Beamstart, arguably the first-ever digital accelerator in Southeast Asia, will enable startups to apply for funding and receive full support virtually by leveraging on its vast network of digital news/media platforms, business resources, technologies and investment/talent partners.
Also Read: The proliferation of 5G will transform businesses and societies: Here’s how
The fund will invest in startups mainly at the pre-seed/accelerator to late-seed stages where startups are believed to have the least support in the region.
Cheque sizes will be up to US$100,000 per company.
Founded in 2016, Beamstart is a business social network and resource database with a mission of supporting entrepreneurs by connecting them to clients, funding and talent.
The company has supported many startups across Southeast Asia either in the form of fundraising, market access or digitalisation. It has also grown its investor community to over 10,000 angel investors, VC/PE firms, and corporate partners in the region.
Kenneth and Wallace believe that there is massive opportunity to invest in technology startups today in heavily populated emerging markets such as Southeast Asia, particularly with the rise of China, the pandemic’s after-effects, the emergence of 5G, rising ‘individualism’ among Gen-Z, and the exponential growth of mobile-internet usage.
“We believe there is tremendous potential in backing the next generation of companies in this part of the world, where early-stage startups lack lots of support. With some capital, lots of backing and leveraging on the power of technology, we believe many of these startups could rise to phenomenal heights,” said Director Kenneth Ho.
Also Read: East Ventures forms new US$88M seed fund for startups weathering COVID-19, announces first close
“We also believe that the rise of China, coupled with COVID-19’s after-effects, has created a whole new digital-first world where consumer behaviour, working patterns, and mobile usage have changed forever. It is the best time to create value that has synergy with technology giants in countries like China, Japan, and The US,” he mentioned.
Las month, AngelList’s India CEO Utsav Somani and its former top executive Wing Vasiksiri came together to launch a new micro-fund, called iSeed SEA, targeting tech startups in Southeast Asia.
iSeed SEA counts a clutch of renowned investors and entrepreneurs among its backers, including Naval Ravikant (Founder & Chairman of AngelList), Kunal Bahl and Rohit Bansal (Co-founders of Snapdeal), and Jonathan Swanson (Founder & Chairman of Thumbtack).
—
Image Credit: Beamstart
The post Beamstart launching US$10M early-stage fund to back cross-border digital-related solutions in SEA appeared first on e27.