1982 Ventures nets $12.5m in first close of seed fund

1982 Ventures, a Singapore-based early-stage VC firm, announced the first close of its first seed-stage venture fund with US$12.5 million in committed capital. The company targets a total corpus of US$15 million for the fund.

1982 Ventures co-founders and managing partners Scott Krivokopich (left) and Herston Elton Powers / Photo credit: 1982 Ventures

1982 Ventures focuses on funding seed-stage fintech startups in Southeast Asia. The firm said its portfolio delivered a return of more than 3x, with investments in firms such as Indonesian banking player Brick, Vietnamese retail investment platform Infina, Vietnamese proptech firm Homebase, and Indonesian wage access platform Wagely.

1982 Ventures recently joined funding rounds of personal finance app Pina and buy-now, pay-later startup Fundiin.

The VC firm was founded at the end of 2019 by Scott Krivokopich and Herston Elton Powers, both former executives of Southeast Asian fintech investor Tryb Group.

1982 Ventures is eyeing investments in a total of 30 startups from the region, whose fintech market has an unrealized value of US$10 billion, according to a report.

The firm said the fund’s core focus will be on startups in Indonesia, Vietnam, Singapore, and the Philippines, with the ability invest across the region, including Pakistan and Bangladesh if possible.

“Seed stage fintech in Southeast Asia is a clear and once in a generation opportunity. Our focus and credibility with founders make us first money invested and the partner of choice for fintech entrepreneurs in the region,” said Powers, co-founder and managing partner of 1982 Ventures.