U.S.-based VC Firm Launches $100 Million Fund Focused to Invest in Southeast Asia
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MassMutual Ventures, a global investment company, on Tuesday launched its second Southeast Asia-focused fund of $100 million to invest in early and growth stage companies in the digital health, fintech, and enterprise software sectors.
In addition to Southeast Asia, the company will also target start-ups in Hong Kong, India, Australia, and New Zealand.
MassMutual Ventures, a unit of Massachusetts Mutual Life Insurance Company, currently has $350 million in capital under management, spread across four funds - two $100 million funds in the U.S., and two in Southeast Asia - $100 million and $50 million deployed earlier.
“This additional capital will allow us to invest in more start-ups in the region that have the ability to generate positive returns for MassMutual,” said Doug Russell, managing director and head of MassMutual Ventures in a press statement.
Started in 2014, the investment firm has invested in nearly 40 companies across the globe, including Europe, Israel and Southeast Asia.
In Singapore, it has invested in Milieu, a market research and data platform, Biofourmis, an AI-based platform for therapeutic decision support, and insurtech company Qoala, among others.
The company aims to invest in an additional 15 to 20 start-ups in the region using capital from the new fund, its investment officers said.