Venturra leads $4m round for Malaysia's Kaodim
Venturra Capital, a Southeast Asia-focused VC fund sponsored by the Lippo Group, has led a $4 million Series A round for Malaysian local services marketplace Kaodim.
Beenext also took part in the round, along with existing investors 500 Startups and East Ventures, which participated in the company's $550,000 seed round in February. Kaodim will use the new funds to expand its reach to other cities in Southeast Asia. Currently the company operates in three cities in Malaysia, along with Manila and Singapore.
Kaodim operates an online platform that matches users with service providers such as electricians, contractors and plumbers, in addition to providers of personal services, such as personal trainers and photographers. It plans to add more services in these and other categories, including business, education and wellness.
Venturra launched earlier this year and is currently investing out of its $150 million debut fund. The firm has several connections to the Lippo Group, which is the fund's largest LP. Of the three managing directors, one is a former director at Lippo, and another is the former managing partner of Lippo Digital Ventures (LDV). In addition, the GP took on LDV's entire portfolio when it launched.
The firm has made two investments this month, in addition to Kaodim: a Series A round of an undisclosed amount for Indonesian beauty e-commerce platform Sociolla, with participation by East and Kapanlagi Group; and an undisclosed commitment to Hong Kong prenatal test developer Prenetics.
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