M Venture Partners banks new capital to double down on portfolio firms

M Venture Partners (MVP), an early-stage VC fund out of Singapore, has raised an undisclosed amount of additional funding to bring the total amount allocated to companies in MVP Fund I’s portfolio to US$55 million.

Photo credit: M Venture Partners

The company said that since first launching at the end of 2019, MVP Fund I has completed 30 investments across Southeast Asia and India. It primarily invests in the pre-seed, seed, and pre-series A rounds of tech-enabled B2B or B2B2C businesses in the two markets.

Companies in the fund’s portfolio include behavioral health coaching startup Naluri, investment advisory platform Liquide, and management training firm NewCampus.

“We’ve only deployed 40% of our capital thus far and therefore have quite a bit of dry powder left,” noted Tanuja Rajah, principal at MVP. However, she stressed that the VC firm is not slowing down its pace of investments anytime soon.

The announcement comes after MVP’s follow-on investment in Naluri’s US$7 million pre-series B round in June. The financing was led by Thailand-based real estate developer Pruksa Group and also saw participation from Bertelsmann Investments.

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“They’ve followed-on two consecutive times after their initial investment and have provided invaluable strategic guidance as a board member and helped us expand our business and investor networks in Asia,” said Azran Osman-Rani, co-founder and CEO of Naluri, on MVP’s investment.