Singapore-based venture capital firm Openspace Ventures has closed its latest funding round having raised $135 million from a range of local and global investors.
This brings the company’s total capital commitments to $225 million from limited partners.
Singapore sovereign fund Temasek and US private equity company StepStone were among its investors in Fund 2.
Other investors include family offices, pension funds, university endowments and insurance companies across Singapore, Japan, China, Korea, US, Australia and Europe.
A spokesperson for OpenSpace told Citywire Asia that the funds raised will be used to assess new investment opportunities in Asia.
'Our broad thesis remains consistent from Fund 1, we are focused on Southeast Asia and we look to Series A as our ideal entry point,' the spokesperson said.
'We will, however, continue to assess new OpenSpaces when it comes to our investments. This could mean selectively adding new adjacent geographies like we did with Pathao in Bangladesh.
'We have on-ground resources in Thailand, Vietnam and Indonesia and will assist our companies to consider these markets and more for their expansion options.'
Currently, Openspace's 17-member team focuses on Series A and B investments in technology companies based in Southeast Asia.
Its key areas of investment include fintech, healthtech, education technology, consumer applications and cloud-based solutions.
So far, the firm has invested in 19 portfolio companies, such as Go-Jek, Love, Bonito, Topica, CXA, FinAccel, HaloDoc and Pathao, to name a few.