Collaborating with KK Fund founders, Sun SEA Capital expects to raise up to US$50 million of fund

Malaysian conglomerate Sunway Berhad announced its collaboration with KK Fund founders Koichi Saito and Kuan Hsu to set up new venture capital fund Sun SEA Capital. Expecting to raise up to US$50 million, the fund will be allocated to invest in Series A funding rounds for startups in Southeast Asia and Hong Kong. Sunway itself has invested US$5 million-worth of early funding.

The fund targets startups that are working in online-to-offline (O2O) convergence, enterprise solutions, logistics, digital media or entertainment, financial technology, and digital health (healthtech). The ticket size will range between US$1-2 million.

The establishment of this venture capital fund enables Sunway Group to accelerate digital transformation by investing in synergies with digital businesses.

“The signing [of this agreement] is an actualisation of Sunway Group’s move to accelerate its digital transformation, as part of our regional expansion. In the future, Sun SEA Capital expects to attract new talents from all over the region to grow together with us,” said Sunway Group President Dato’ Chew Chee Kin.

Also Read: Thai startup ZmyHome lets homeowners sell directly to buyers; bags US$400K from KK Fund

Supported by seasoned investors

 

As one of the initiators who are in charge of leading Sun SEA Capital, Koichi Saito (who was previously with IMJ Investment, which is now known as Spiral Ventures) and Kuan Hsu (who was once with GREE Ventures), has founded Singapore-based VC KK Fund in 2015. In Indonesia, KK Fund invests in online furniture sales platform Fabelio.

“Sun SEA Capital will assist Sunway Group in creating new innovation by investing in technologies such as IoT, AI, and blockchain in order to build a sustainable business,” Saito explained.

Sun SEA Capital will also prepare a plug-and-play scenario for selected startups by including the startups in Sunway Group’s existing ecosystem.

“We have an extensive experience in Southeast Asia. We will combine Sunway Group’s resources with our experience of working as an investor in Southeast Asia,” Saito closed.

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The article Sun SEA Capital Siap Berinvestasi di Startup Asia Tenggara was written in Bahasa Indonesia by Yenny Yusra for DailySocial. English translation and editing by e27.

Image Credit: Sun SEA Capital

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