Miguel Cordon · · 2 min readTravel-focused German venture firm expands to Singapore
Gharage APAC head Darren Soh (left) and managing director Lennard Niemann / Photo credit: Gharage
Gharage, a company backed by global travel retailer and wholesaler Gebr Heinemann, has announced the launch of its Singapore office. Gharage is looking to invest in travel and retail startups in the Asia-Pacific region that are in the pre-seed to series A stages.
Gharage, based in Germany, typically invests in startups within the travel and retail sector, with the goal of improving travel time for global travelers. Its portfolio includes an airport delivery platform, a Web3 community for whisky collectibles, and a luxury retail experience for airports.
“Our launch seeks to unlock opportunities for founders to tap into the travel and retail ecosystem that Gebr Heinemann has built globally, and to bring Asia’s innovations to global travelers,” said Lennard Niemann, managing director and co-founder of Gharage.
Former Singtel Innov8 executive Darren Soh has been appointed as head of Gharage APAC. Soh told Tech in Asia that Gharage intends to own a stake of less than 20% in targeted companies, while the average ticket size will vary.
“The diligence lens and process that we apply will not differ fundamentally from the startups we invest in Europe,” he adds. “However, we expect to see more tech solutions that are catered to the Asian markets as compared to European markets, where consumer brands are more prevalent.”
See also: Recession Run: Sequoia’s $850m plan during a downturn
Editing by Thu Huong Le and Arpit Nayak
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