FEBE Ventures Managing Partner Olivier Raussin
Singapore-based seed stage-focused VC firm FEBE Ventures has announced the launch of its second fund worth US$75 million.
Otium Capital, an international family office, is the anchor investor. The names of the other Limited Partners have not been disclosed.
Also Read: ‘Airbnb for surgeries’ HDmall gets FEBE Ventures backing to deepen market presence in SEA
The company said in a statement that 90 per cent of Fund II is already committed.
In addition, FEBE also announced a partnership with Tekton Ventures, a Silicon Valley-rooted global seed fund co-founded by Jai Choi and Vincent Worms. Tekton and FEBE will support globally-minded entrepreneurs leveraging technology for global progress, particularly in emerging economies.
FEBE Ventures (an acronym for “For Entrepreneurs, By Entrepreneurs”) was founded in 2019 by Olivier Raussin (a serial entrepreneur and seasoned tech executive at Google and Microsoft), Eric Merlin, and Jean-Marc Merlin.
Nicolas El Baze, a serial entrepreneur and a long-time General Partner at Partech in San
Francisco, and Aditya Pendyala, a tech entrepreneur, have joined the FEB team.
The VC firm focuses on B2B software, B2B marketplaces, health, and sustainability. Fund I, with a corpus of US$30 million, invested in 35 startups globally, including HDMall, Locad, Zenyum, Tindle, Silverbird, and Manatal. Its average cheque size is about US$250,000 for pre-seed startups and US$750,000 for seed-stage firms.
Also Read: Locad rakes in US$11M to build supply chain network across APAC
FEBE Ventures has team members across Southeast Asia, North America, Latin America, and Europe.
The post Singapore’s early-stage VC firm FEBE Ventures unveils US$75M Fund II appeared first on e27.