Singapore's Gordian Capital spins out Beenext VC fund

It follows the spin-out of VC fund manager Qualgro and is being touted as proof of concept for the Gordian institutional fund platform. The firm also facilitates launches across real estate, private credit, and hedge funds.

“Although we have many years of venture capital investment experience, we had limited experience in establishing a fund, tax matters and structuring as well as the operational and regulatory aspects of operating a fund,” Teruhide Sato, founder and managing partner at Beenext, said in a statement. “Gordian Capital was very helpful and handled all those activities, allowing us to focus on investing and working with our investee companies and giving us the flexibility to build our own brand.”

Beenext aims to make seed and Series A investments in start-ups across Southeast Asia, India, Japan and the US. Primary target areas include marketplaces, financial technology, and software-as-a-service. It claims to have made more than 80 investments to date.

The GP’s fund is understood to have closed in excess of $75 million and no longer being marketed for further investment. It typically makes deployments of $500,000-$2 million, with recent activity including participation in a INR2 billion ($31 million) round for Indian automobile marketplace Droom.

Previous investments also include Thailand-based online fashion retailer Zilingo, Singapore video production company 90 Seconds and Filipino fintech operator Coins. In April, the fund joined a seed round for Japanese science research database developer POL.

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• Topics
• Southeast Asia
• Technology
• GPs
• Fundraising
• Venture
• Singapore
• Venture