Beamstart, a business community platform and resource database of company-related information, announced on Thursday the launch of a USD 10 million fund to invest in early-stage startups in Southeast Asia.
The fund, backed by Beamstart’s co-founders, Kenneth Ho and Wallace Ho, and an undisclosed financial services partner from Singapore, plans to invest in startups targeting cross-border digital solutions in China, Japan, and the US, according to the announcement. The fund is set to start investing in the second quarter of next year, with a ticket size of up to USD 100,000 per company.
The fund aims to target pre-seed to late-seed stages startups, which are the “least supported” startups in Southeast Asia, according to a press release the company. Beamstart says startups can apply for funding online and receive full “virtual” support.
Founded in 2016, Beamstart has expanded its investor community to over 10,000 angel investors, VC/PE firms, and corporate partners in the region, the company claims.
South Africa Today
Read more at VolaNews
