Incubate Fund Asia Closes Fund Post Investing $50 Million in Growing Startups

On September 21, Japan's venture capital firm Incubate Fund Asia announced the first close of its third fund, which has a target corpus of $50 million. In a statement, Incubate Fund Asia stated that this achievement demonstrates its unwavering commitment to fostering the growth of startups and propelling them to extraordinary success.

According to the statement, Incubate Fund's India-focused entity has been rebranded as Incubate Fund Asia in order to broaden its focus on pre-seed and seed-stage startups in India and South East Asia (SEA).

The fund's proceeds will be used to make early-stage investments and follow-on investments in startups that have demonstrated strong fundamental growth. With the third fund, the fund hopes to build a portfolio of around 20 startups.

The fund will invest only 40 percent of its total investible corpus to create the portfolio and then use the balance to back the ‘winners’ in its portfolio. Incubate Fund, which has firmly established itself within India's dynamic startup investment landscape, has taken on a prominent role as a lead investor by establishing a dedicated fund for Indian startups in 2016.

Incubate Fund Group has offices in key cities around the world, including Tokyo, Singapore, Bangalore, Mumbai, So Paulo, and Mountain View. Captain Fresh, Yulu, ShopKirana, and Plum are some notable portfolio investments.

The fund has been critical in nurturing these startups, expertly guiding them to market leadership positions in India. In a strategic and forward-thinking move, Incubate Fund India has rebranded as Incubate Fund Asia.