Jenina Ibañez · · 1 min readE27 founder to helm new seed fund for SEA tech firms
Mohan Belani, the founder of tech media platform e27, has announced the launch of a VC firm that would invest in early-stage tech companies in Southeast Asia.
Image credit: Shafiu Hussain
The new fund, Orvel Ventures, was established by Ascend Angels and Vulpes Investment Management, and it will give founders access to the networks of the two firms. It will focus on seed-stage firms in the region, with Belani serving as a partner.
Orvel aims to raise funds from other angel investors, high-net-worth individuals, and family offices, Belani noted. The fund is targeting its first close by end-July.
“While this is a crazy difficult time to fundraise, it’s also the opportune time to be investing in early-stage companies,” he said. “This feels like 2008 all over again, and it’s exciting to look at companies with a builder mindset and long-term view.”
This announcement follows an overall decline in venture capital funding for startups in Asia that had led to layoffs at tech companies across the region.
Editing by Miguel Cordon and Lorenzo Kyle Subido
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