NSI in $13m round for Singapore's Love Bonito

The round was led by Japanese e-commerce platform Kakaku.com. Love Bonito will us the new capital to expand its product, data and engineering teams, build its presence in new markets and improve its outreach to customers in its existing markets.

Founded in 2006, Love Bonito designs clothes aimed at Asian women, with an online and offline presence in Singapore, Malaysia, Indonesia and Cambodia. NSI contributed an undisclosed amount of Series A funding in 2016, and the company credits the GP for helping it expand beyond Singapore and build a pan-regional presence. Love Bonito plans to leverage Kakaku’s consumer and technology expertise for further growth.

“Love Bonito has a very strong business proposition and distinctive strategy in the fashion retail space, and we are confident in the opportunities the region has to offer,” said NSI co-founder Hian Goh in a statement. “Love Bonito represents the quintessential investment for NSI Ventures, as we successfully assisted talented founders in building a deep management team and scaling the product and user acquisition strategy.”

NSI is investing from its second Southeast Asia-focused fund. It launched last year with a target of $125 million and announced a first close of about $60 million in December, along with the vehicle’s first investment, a $5 million Series A round for Singapore-based digital healthcare company Biofourmis. The firm focuses on Series A and B investments for start-ups throughout Southeast Asia.

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• Topics
• Southeast Asia
• Technology
• Consumer
• Early-stage
• Singapore
• TMT
• NSI Ventures