Asia PacificBreaking News

First closure of $250 M fund by AC Ventures

The first closure of AC Ventures’ fifth fund, with a target of $250 million, has been attained. AC Ventures is a venture capital firm with a concentration on Southeast Asia.

The fund has now invested in five firms and has raised 65% of its target capital. All include the US $2.2 million funding round for SkorLife, the US $3.8 million fundraising round for Ideal, and the US $5 million investment for Atma. AC Ventures was the first institutional investor to support these three firms.

Over 120 IT companies in Southeast Asia have benefited from AC Ventures’ investments since 2014, including Xendit, Bibit, Carsome, and Onic Esports. The venture capital business claimed to manage assets worth more than $500 million USD at the moment.

Several additional recruits have also been made by the business. It just hired Helen Wong, a managing partner, who was formerly at Qiming Ventures and GGV Capital.

A value creation team that can support the operations of the businesses in AC Ventures’ portfolio looks to be a major hiring priority. Former Sea Group CSO Alan Hellawell has joined the team as a senior adviser and venture partner, while Leighton Cosseboom, the lead English editor of Tech in Asia Indonesia, has been appointed head of PR and communications.

With the appointment of Lauren Blasco, a former director of sustainability at Potato Head Group, as its new head of ESG, the company is also concentrating on enhancing its ESG best practices. She will support the fledgling companies in the firm’s portfolio in enhancing their ESG impact and putting appropriate plans in place.




Related Articles

Back to top button