Monk’s Hill Ventures Launches $80M Funding For Tech Startups Based In Asia.

0

Monk’s Hill Ventures Launches $80M Funding For Tech Startups Based In Asia.

While there may be a many interesting startups coming out of the Asian region, founder there have to deal with the lack of venture capital funding and mentorship. Fortunately, Monk’s Hill Ventures has recently appeared to try an deal with these challenges with a total of S$100 million (US$80 million) in funds that will provide an early-stage funding and guidance from experienced entrepreneurs, which include founders of Match.com, Bubbly and Zalora, to Asian startups that wish to expand overseas. This new firm currently has offices based in Singapore and Jakarta.

Goals.

Monk’s Hill Ventures wishes to help close the mentoring and post-seed stage VC funding problem for startusp based in Asia. While the firm plans to seeking out potential startups throughout Asia, it will focus especially on the ecosystems based in the Southeast Asia, where there lay many opportunities for tech companies due to the region’s quickly increasing mobile penetrations rates. These cities will also include Bangkok, Jakarta Manila, and Singapore.

Monk’s Hill Ventures will be providing portfolio companies with an early stage and Series A and B funding and shall also support startups from other locations of the world that wish to expand into Asia.

Entrepreneurs.

Every single member for this founding team his a highly experience entrepreneur. Peng T. Ong was the founder and CEO of content-management systems firm Interwoven. Which had gone public on Nasdaq during 1999. Ong was also a co-founder of Match.com and Encentuate and last served as a partner for the GSR Venture, A VC firm based in China.

Kou-Yi Lim was formerly the CEO for Infocomm Investment, a $200 million venture capital funding that invested within startup that included Gengo, Reebonz, and Twilio. Stefan Jung was also the co-founder and managing director for Rocket Internet properties Lazada and Zalora. Jung was a venture partner for Global Founders Capital, a $200 million early stage fund, where he lead the investment for an Indonesian startup by the name of Traveloka.

With a special adviser from Thomas Clayton, the founder of Sequoia Capital-backed Bubbly. Before Bubbly, Calyton had led the mobile business unit at BEA Systems, which has been acquired by Oracle since 2008 for a total of $ 8.5 billion. By working together, Companies that have been launched by Monk’s Hill Ventures partners have managed to reach major Asian markets which include China, Japan, India, Indonesia.

During a press statement, Ong said, “There are clearly two big gaps in the market. One is the much talked about Series A funding gap. However, the more significant one that we see is the lack of seasoned entrepreneurs, with deep operating experience, as investors–people who can roll up their sleeves and really help entrepreneurs.”

Read Next:Lacu, The application For Travelers to Get Help From Interpreters.

Like What Your Reading? Subscribe For A Free Monthly News And Event Update in Asia! Please Share!

Share.

About Author

Kevin C is passionate for tech world wide. He was apart of Qbox media and currently is apart of a UX firm based in Hong Kong.

Asia Tech Hub @Copyright 2014