Accelerating Asia launches $20m fund for early-stage startups

Accelerating Asia, a Singapore-based early-stage venture capital firm, announced the launch of its $20-million second fund, which will invest in pre-Series A opportunities in Southeast and South Asia.

The fund, Accelerating Asia Fund II, has already secured $10 million in soft commitments from existing investors and partners, the firm said. It will invest up to $250,000 in a greater number of startups.

“The fund will start to deploy capital in 2021 and is focused on seed to pre-Series A investment into high-potential startups across Southeast and South Asia,” the firm added.

The VC fund looks to invest in a wider number of high potential early-stage startups with viable business models and delivering innovative, commercially viable solutions to real-world problems across the region.

“With the fresh funds, we will be better positioned to take bigger stakes in high-potential startups, working closely together with founders to scale their growth,” said Craig Dixon, co-founder and general partner of Accelerating Asia.

The launch of Accelerating Asia Fund II builds on the track record from Fund I, which invested in 36 startups across ten markets and 20 verticals within two years. Fund I portfolio companies have collectively raised $30 million to date, with around 70% of capital raised through Accelerating
Asia’s network.

Within 12 months of completing Accelerating Asia’s accelerator program, 80% of portfolio startups have received follow-on funding from the region’s leading VCs including, D4V, Chiba Dojo Fund, Headline Asia, Impact Collective, SOSV, MDI Ventures, Falcon Network, and Anchorless.

Accelerating Asia is an accelerator VC that runs programs for early-stage startups and investors. Licensed by the Monetary Authority of Singapore, Accelerating Asia’s early-stage VC fund focuses on pre-Series A startups with untapped potential that are 6-18 months away from institutional funding.

“The number of unicorns is expected to rise in the region by 2025 and we believe now is the time to invest at the early-stage to capitalise on outsized returns in Southeast and South Asia,” said Amra Naidoo, the firm’s co-founder and general partner.