Shadine Taufik · · 1 min readTaiwan-based VC firm Cherubic Ventures launches $110m fund
Cherubic Ventures, a Taiwan-based VC firm, has launched its US$110 million Fund V, marking its first nine-digit fund. This brings its total assets under management to US$400 million.
Cherubic Ventures founder Matt Cheng / Photo credit: Cherubic Ventures
The VC firm has earmarked 50% of its fifth fund for late-stage firms as well as those in their pre-IPO stage, diverging from its usual early-stage investments.
Cherubic focuses on investing in startups across Asia and the US. Its portfolio consists of 150 companies, 10 of which are unicorns.
Last year saw many of the investor’s portfolio firms reach major milestones. US-based telehealth firm Hims & Hers was listed on the New York Stock Exchange, Taiwan-based ecommerce provider 91App went public on the local bourse, and Japan-based buy now, pay later firm Paidy was acquired by PayPal for US$2.7 billion.
Cherubic was established in 2014 by Matt Cheng, who co-founded 91App as well as Chinese platform Tian-Ge. In addition to Taipei, the VC firm has teams in San Francisco and Shanghai.
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Editing by Miguel Cordon and Lorenzo Kyle Subido
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