The investment will be made from Hatcher+’s second fund worth US$125 million, and the deals will be identified by BlueChilli

Singapore-headquartered data-driven venture investment platform Hatcher+ has announced a three-year partnership with Australia’s tech startup accelerator BlueChilli to co-invest in and build 240 global startups.

The investment will be made from Hatcher+’s second fund worth US$125 million, and the deals will be identified by BlueChilli.

The fund, called Hatcher+ H2, was launched last month and is in the final stages of closing with several investors, including two leading family offices in Asia and the Middle East.  It expects to make the first close of the fund early in Q2.

The duo have already identified over 300 startups for potential investments.

“Hatcher+ and its co-investment partners look for startups that have the capacity to scale, first and foremost.  Hatcher+ is sector- and geography-agnostic; we are prepared to make investments so long as we can find a geographic champion or sector champion accelerator to partner with,” Hatcher+ Partner and Co-founder John Sharp told e27.

“We are looking forward to working with BlueChilli as we believe their approach is the best in the region and can help us achieve our vision of investing US$125 million into top startups over the next three years.”

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The average ticket size will be around US$50,000 to begin with. If companies attract follow-on funding, it will take it pro-rata up to a maximum of around US$400,000.

For BlueChilli startups, Hatcher+ will provide US$200,000 each as follow-on funding when they raise capital upon completion of the programme.

 

BlueChilli CEO Sebastien Eckersley-Maslin said, “We are really pleased to be partnering with Hatcher+. Its global network across 168 countries, combined with a solid track record of investments and focus on redefining the practice of venture investing, aligns well with our global ambitions.

According to Sharp, Hatcher+ will not have any difficulty deploying US$125 million within three years. “We have done two years of extensive research on the size and quality of our co-investment partner operations and are confident of deploying the capital our investors provide within that timeframe — and equally confident of the results we will see.”

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Hatcher+ uses Artificial Intelligence (AI)- and Machine Learning-based technologies to identify early-stage opportunities in partnership with leading accelerators and investors worldwide. It uses proprietary research gained from its analysis of over 300,000 early-stage investment events across 745 leading venture firms and accelerator groups — in conjunction with dynamic data obtained from its partnerships with leading accelerators — to enable high-potential venture investments to be identified at an earlier stage.

In October last year, Hatcher+ raised US$3.5 million in funding, led by Taizo Son’s (brother of SoftBank Chairman Masayoshi Son) Mistletoe group.

BlueChilli provides idea-stage startups with access to a specialist team, who help them validate and build their product along with working on pilots. The team support and cash investment is received in exchange for 15 per cent equity. After the first six months, the startups can continue on as part of the BlueChilli community with opportunities to be part of alumni offers, continued mentoring and business pitching events.

The accelerator has already invested in 113 startups since launch in 2011 and runs several startup accelerators, including its current programs SheStarts and CityConnect. The Sydney-based BlueChilli will be expanding its operations to other countries to select the 240 startups.

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