1982 Ventures signs deal with Korean investors to help startups enter Southeast Asia

Singapore-based 1982 Ventures announced it has entered a strategic partnership with three South Korean investors Infobank, C&Venture Partners, and BTC Investment.

Photo credit: 1982 Ventures

The parties have signed a memorandum of understanding to pursue investments in Korea and Southeast Asia and support market entry for Korean startups into the region. The partnership will leverage the strength of the Southeast Asian fintech startup scene, which has an unrealized value of over US$10 billion.

In the latest Bloomberg Innovation Index, South Korea leads the world in innovation, taking the fifth spot globally by number of unicorns. Southeast Asia has also become a top priority in the expansion plans of big companies, noted 1982 Ventures.

“An increasing number of Korean investors and startups are starting to see the significant market opportunity in Southeast Asia and are looking for partners such as 1982 Ventures to support their market entry,” said Herston Powers, managing partner of 1982 Ventures.

The VC firm is a fund management company focused on early-stage fintech startups in Southeast Asia and is licensed under the Monetary Authority of Singapore. Its local networks, the company said, provide exclusive deal flow, on-the-ground insights, and access to decision makers.

Earlier in December 2020, the VC firm backed Vietnamese proptech startup Homebase in its “seven-figure” pre-series A financing round.