Singapore-based venture capital firm Openspace Ventures on Monday announced that is establishing its fourth fund, OSV+, which targets mid-stage tech investments in Southeast Asia.
OSV+ will focus on existing Openspace portfolio companies, though it will also “selectively make new growth-stage deals,” the company said. Its first investment will be in Biofourmis, a Singapore-founded healthtech startup that closed a USD 100 million Series C round led by SoftBank earlier this month. Openspace also led Biofourmis’ Series A round in 2017 and took part in the Series B in 2019.
Openspace further said that it appointed Jessica Huang Pouleur, who previously oversaw strategic initiatives, investment, and M&A activity at Disney, as executive director and member of the OSV+ investment committee. Aristo Setiawidjaja is also joining as senior advisor for Indonesia.
“Openspace is now operating four funds across the region with a team of 25 diverse individuals delivering on the unique requirements of technology investing in Southeast Asia,” said Shane Chesson, founding partner at Openspace. “The investment environment is attractive during this phase and we will keep executing on our busy pipeline.”
Established in 2014, Openspace Ventures focuses on Southeast Asia-based tech companies and has offices in Singapore, Indonesia, and Thailand. It has invested in 30 companies throughout the region, such as Indonesian unicorn Gojek and Singapore-based software firm TradeGecko, which is being acquired by Intuit for more than USD 80 million.