Singaporean accelerator ups its investment ticket size for pre-series A startups

Early-stage VC firm Accelerating Asia is raising its funding ceiling for eligible startups to up to US$250,000, a bump from the US$150,000 funding ticket size it announced earlier.

The Singapore-based accelerator said it has also seen 36 pre-series A startups in its network collectively raise US$27 million.

In April, Accelerating Asia launched its fourth cohort with 11 startups, which have already raised US$5 million plus US$1 million in soft commitments.

Co-founders and general partners Craig Bristol Dixon and Amra Naidoo / Photo credit: Accelerating Asia

“We’re so excited by the traction, results, and growth of our portfolio startups so far. And with the increasing investor interest they’re receiving, it’s [an] early signal for us that our accelerator VC model is working,” said Accelerating Asia general partner and co-founder Amra Naidoo. “We’ve decided the time is right to increase our investment amount and take bigger bets on the startups coming through our program.”

Startups who had graduated from its accelerator program in 2019 and 2020 have generally tripled their monthly recurring revenue, according to the firm.

Accelerating Asia also announced that it will be launching its second fund of up to US$50 million in the second half of the year.

Earlier this month, it led a seed round of US$750,000 for the Bangladesh startup Shuttle.

Accelerating Asia has also opened applications for its fifth cohort until the end of this month.