Cisco commits $10m to Monk's Hill Southeast Asia fund

Along with its funding commitment, Cisco will also provide market expertise for investee companies and help to develop collaboration and technology sharing opportunities, according to a statement. It is the firm's first investment in Southeast Asia.

Monk's Hill launched the fund last year with a target of S$100 million ($80 million). Its goal is to invest in early-stage technology start-ups across Southeast Asia up to the Series A and B stages. The fund will also support start-ups from outside the region that want to expand into Southeast Asia. Specific sectors of focus include cloud computing, big data and analytics, and internet applications.

Monk's Hill was one of six Singapore-based VC firms that received a total of S$60 million from the government to support VC investment in Southeast Asian tech companies. Entrepreneurs Peng T. Ong - founder of Interwoven and co-founder of Match.com - and Stefan Jung - founder of Rocket Internet's Lazada and Zalora e-commerce platforms - are among the partners at the firm.

Various sources have reported that Yahoo Japan and Temasek Holdings have also contributed undisclosed amounts to the fund. Monk's Hill is said to be considering increasing its target to $100 million, depending on the level of investor interest.

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Save this article  
• Send to  

• Topics
• Southeast Asia
• Technology
• Fundraising
• GPs
• Venture
• Southeast Asia
• Singapore
• Technology
• GPs
• Fundraising
• Venture
• Monk's Hill Ventures