Samreen Ahmad · · 1 min readGenesia Ventures raises $90m in first close of third fund
Genesia Ventures has announced the first close of its third fund at US$90 million, which it will invest in pre-seed and seed stage startups in Japan and Southeast Asia.
Genesia Ventures team members on a Zoom call / Photo credit: Genesia Ventures
The ticket size will be a maximum of US$4 million per company, which will include potential follow-on investments, the Asia-focused VC firm said.
Genesia Ventures is looking at a total corpus of US$130 million for the third fund. Its final close is scheduled for August.
Japan Investment Corporation and Mizuho Bank contributed to the fund, which also saw participation from undisclosed domestic institutional investors.
Founded in 2016, Genesia Ventures said that it has invested in more than 100 pre-seed and seed stage startups in Japan and Southeast Asia. While the VC primarily invests in areas of digital transformation, its third fund will also focus on frontier tech, including robotics and spacetech.
Some of its bets include Vietnamese healthtech startup BuyMed, Indonesian logistics firm Logisly, and Vietnam-based buy now, pay later player Fundiin.
The VC had earlier raised US$35 million for its first fund followed by US$75 million for its second fund.
Other investors in Genesia Ventures’ third fund include:
- Canal Ventures
- Gree
- Mizuho Capital
- Oriental Land Innovations
See also: Which are the top-performing VC funds in Southeast Asia?
Editing by Miguel Cordon and Lorenzo Kyle Subido
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