International Finance

Singapore’s Beenext to raise $100 mn for Emerging Asia fund

Beenext emerging Asia
The VC firm has already secured $8 mn from a single investor

Singapore-based venture capital firm Beenext is looking to raise $100 million for the Emerging Asia fund which will invest in emerging technology startups, according to media reports.

Reportedly, Beenext, through the Emerging Asia fund, is looking to invest in companies working in the healthcare and agriculture sector as well.

The Beenext Emerging Asia fund was launched last month. So far, Beenext has raised $8 million from a single unnamed investor.

Managing partner Teruhide Sato earlier told the media, “We have been interested in marketplaces, consumer tech, fintech, and SaaS domain and would love to seek more investment opportunities in healthcare tech and agriculture tech as well.”

Since its inception, the company has made over 80 investments in the technology sector.

Beenext has been on an investment spree this year. So far, the company has made venture investments in more than 25 companies. Beenext has been a lead investor in more than 10 of these. The company has invested in startups in countries such as Japan, India, Singapore, Indonesia, and Pakistan.

Some of the startups funded by Beenext are Singapore-based fashion ecommerce firm Zilingo, Indonesian B2B marketplace Ralali, India-based agritech firm Cropin, Vietnam’s online marketplace Sendo, and Japanese HR services provider SmartHR.

It has also participated in the funding rounds for Indian AI-powered healthtech startup Niramai Health Analytix, Bangalore-based fintech startup Open, Singapore spacetech firm NuSpace, and HR marketplace Snaphunt.

Recently, the company also invested in Pakistan-based fintech startup Finja.

Beenext was founded by Japanese entrepreneur Teruhide Sato, who also served as the CEO of Japan-based BEENOS, in 2015. At Beenext, Teruhide Sato has taken over the role of managing partner, along with fellow Japanese investor Hironori Maeda.

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