Cocoon Capital announces $20 million Southeast Asia fund for enterprise tech startups

Cocoon Capital opens second fund for SEA’s startups.

Singapore-based early-stage venture capital fund Cocoon Capital announced Tuesday the launch of a new US$20 million fund, with a focus on enterprise-tech startups from deep tech, fintech, and medtech sectors.

The targeted verticals indicate a growing new trend for technology to aid the finance and medical industries.

Will Klippgen, co-founder and managing partner at the firm, said that Southeast Asia’s insufficient financial support for seed-stage startups gives birth to a funding gap that his firm is looking to fill. “With the billions of dollars available in venture capital in the region, only a fraction is targeting seed-stage companies,” said him in a press statement.

One way Cocoon Capital differs itself from other funds is that it limits its deals and spends more time by providing a wide variety of support services to help fast-track startups.

The second fund also brings the firm’s total assets under management up to US$27 million. Its first fund invested in 10 startups in Singapore, Vietnam, and the Philippines, including cleantech startup SensorFlow and medtech firm See-Mode. Some other companies in the VC’s portfolio are Hapz.com, Poundit.com, Dexecure, Hiip.asia, as well as PropertyGuru.

Editor: Ben Jiang