Venturra invests in Singapore's BitX
Venturra Capital, the recently launched Southeast Asia VC firm sponsored by Lippo Group, has invested an undisclosed amount in Singapore-based bitcoin start-up BitX.
BitX will use the funding to accelerate its hiring, product development and market expansion initiatives, according to the company's blog. It also plans to take advantage of Venturra's expertise and networks in Southeast Asia to improve its regional leadership position.
In its Series A round in July led by South African media conglomerate Naspers, BitX raised $4 million. The Digital Currency Group, a bitcoin-focused investor founded by digital currency promoter Barry Silbert, also participated in that round.
Venturra launched in October, closing its debut fund at $150 million. The largest single LP is Lippo, whose director John Riady is one of Venturra's three managing partners. Upon launch Venturra took over the tech-focused portfolio of Lippo Digital Ventures, whose former managing partner Rudy Ramawy also joined Venturra.
At its launch Venturra said it had already made 10 investments in Southeast Asian technology start-ups. Since then it has announced several more, including leading a $4 million Series A round for Malaysian local services marketplace Kaodim, and rounds for Indonesian beauty e-commerce platform Sociolla and Hong Kong prenatal test developer Prenetics.
More on Southeast Asia
Latest News
Asian GPs slow implementation of ESG policies - survey
Asia-based private equity firms are assigning more dedicated resources to environment, social, and governance (ESG) programmes, but policy changes have slowed in the past 12 months, in part due to concerns raised internally and by LPs, according to a...
Singapore fintech start-up LXA gets $10m seed round
New Enterprise Associates (NEA) has led a USD 10m seed round for Singapore’s LXA, a financial technology start-up launched by a former Asia senior executive at The Blackstone Group.
India's InCred announces $60m round, claims unicorn status
Indian non-bank lender InCred Financial Services said it has received INR 5bn (USD 60m) at a valuation of at least USD 1bn from unnamed investors including “a global private equity fund.”
Insight leads $50m round for Australia's Roller
Insight Partners has led a USD 50m round for Australia’s Roller, a venue management software provider specializing in family fun parks.