OSK-SBI Venture Partners Ltd., (OSK SBI) announced on Wednesday the launch of a second venture capital fund that will invest in category-defining businesses across Southeast Asia.
The firm said that the first close of 20 million dollars in capital commitments demonstrates the strength of the cross region collaboration between OSK Ventures International Berhad, a Malaysian investment firm, and SBI Holdings, Inc., a Japanese financial titan, through its subsidiary, SBI Ventures Malaysia Sdn Bhd (SBIVM),.
According to the statement, active fundraising for Fund 2 continues with the goal of reaching final capital commitments of at least $40 million.
The fund will invest in a wide range of technology areas, including healthcare, financial services and enterprise software, as well as education, the environment, and renewable energy.
In line with the strategy of the first fund, investments are expected to span all stages of a company from Series A through to the pre-initial-public-offering (IPO). Portfolio companies will also receive follow-on financing to help them on their journey.
OSK-SBI, the successor fund, is leading an investment round at growth stage in Allrites, a global marketplace for film, TV and sports content, where broadcasters, streaming platforms and independent producers can all buy content.
Content-as a-service platform (CaaS), founded by former TV producer Riaz mehta, hosts more than 150,000 hours worth of content. Customers are located on five continents.
“We believe that there has never been a more opportune time to invest in Southeast Asia, and this could be the second act of the startup ecosystem, as the community grows of experienced founders, employees, and business models, and technological innovations increase to tackle ASEAN’s most pressing problems,” said Yoshihiro, Managing Director of SBI Ventures Malaysia Sdn. Bhd.
SBIVM and OSKVI merged their decades of experience in investing in ASEAN technology startups, growth companies and businesses with the creation of their first fund in 2018.
Their Fund 1 has grown its portfolio to include category-leading companies such as Doctor Anywhere which provides healthcare services to over 2.5million users in six countries, Sunday Insurance, an insurtech with over $100 million of revenue, and Java Offshore whose clients include some of the largest oil and gas companies in the world.
“As we embark upon this journey in Southeast Asia’s dynamic, fast-growing tech industry, we are driven to empower innovation, speed up growth, and facilitate
Many of these startups are in their’second act’.
“Our commitment to nurturing the region’s brightest talent
Amelia Ong is the Chief Executive Officer of OSK Ventures International. She said: “Our belief in the transformative powers of technology to shape our future is reflected in these groundbreaking ideas.”
Since its founding in 2000, OSKVI successfully nurtured over 24 companies through a trade sale or initial public offering. It currently has 37 portfolio companies.
SBI Holdings provides financial services via the internet in Japan.
The firm was founded in 1999, spun off by SoftBank in 2006 and is now listed on the Tokyo Stock Exchange. It focuses on financial service, asset management, and investment businesses.
SBIVM, a 100 percent owned Malaysian subsidiary of SBI Holdings has been operating in Malaysia since 2011.
Over the years, the company has formed joint ventures with the Brunei government and Malaysian government-linked investment firms, as well as a publicly listed Malaysian company that invested in private companies throughout ASEAN.
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