Japanese VC Incubate Fund Asia Announces First Close Of $50 Million Fund To Back India & Southeast Asia Startups
The early stage Japanese venture capital (VC) firm Incubate Fund Asia has concluded the first close of its third fund with a target corpus of $50 Mn (around INR 416 Cr).
The VC firm will look to deploy the funds in 20 pre-seed and seed stage startups across India and Southeast Asia, investing in the $500K to $1.5 Mn range. Incubate Fund Asia will also make follow-on investments in portfolio startups via Fund III. The VC firm said it would invest 40% of its corpus in new startups, deploying the rest in portfolio startups.