Called RedBeat Capital, the VC fund will complement and enhance AirAsia’s transformation into a travel technology company

RedBeat Ventures, the digital venture arm of Southeast Asian low-cost airline AirAsia, today announced the establishment of its global venture capital (VC) fund RedBeat Capital, alongside a strategic partnership with leading accelerator and VC firm 500 Startups.

The company described the VC fund as meant for post-seed stage startups seeking to enter or expand in Southeast Asia with a focus on travel and lifestyle, logistics, and fintech industries.

RedBeat Capital will also invest in digital enablers to support these verticals such as artificial intelligence, the internet of things (IOT), and cybersecurity.

The fund will complement and enhance AirAsia’s transformation into a travel technology company.

The company will be based in San Francisco where it will gain access to 500 Startups’ deal flow as well as graduates of leading accelerator programme.

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It will also seek to co-invest in select 500 Startups portfolio companies.

RedBeat Capital is led by RedBeat Ventures CEO and AirAsia Group Deputy CEO (Technology and Digital) Aireen Omar.

“Collaborating with digital, tech-enabled startups will help us to innovate and advance our position as a market-leading travel technology company, and we look forward to exploring the integration of new, disruptive ideas into our growing portfolio of digital businesses,” she said in a press statement.

RedBeat Ventures’ digital-related businesses include BIGLIFE (AirAsia BIG Loyalty, travel360.com and Vidi), ROKKI, BigPay, and RedCargo Logistics.

Through RedBeat Capital, it will continue to look for investment opportunities across Asia Pacific, Europe, and the Americas.

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Image Credit: RedBeat Ventures

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