Kejora closes growth fund at over $100m

The firm launched Kejora-InterVest Star Growth Fund in 2017 in partnership with South Korean venture capital firm InterVest. LPs include a number of Korean investors such as Korea Development Bank, Industrial Bank of Korea, NH Investment & Securities, and Korea Venture Investment Corporation. Indonesia's Barito Pacific Group and an unnamed Southeast Asian pension fund also contributed.

Kejora plans to commit $5-10 million per deal to growth-stage start-ups in Southeast Asia that are solving major problems in the region using technology with a focus on the financial services, logistics, and education sectors. Investments so far include Indonesian logistics start-up Sicepat Ekspres, which raised a $50 million Series A round from Kejora and Barito Pacific's technology investment arm Barito Teknologi last month. The fund also contributed to a $28 million Series C round for Singapore fintech player C88 Financial Technologies last year.

Founded in 2014 by serial entrepreneurs Sebastian Togelang and Andy Zain, Kejora now has $200 million in assets under management (AUM) across multiple funds. Along with the growth vehicle, the firm is also investing its second early-stage vehicle, which closed at $80 million last year and targets pre-Series A and Series A investments.

InterVest, which had $840 million in AUM as of 2018, invests across a range of sectors including biotechnology, healthcare, fintech, blockchain, and semiconductors. The partnership with Kejora is aimed at accessing Southeast Asia's growing technology sector and bringing value to local start-ups through its industry experience in South Korea.

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• Topics
• Southeast Asia
• Fundraising
• Venture
• Technology
• Indonesia
• Kejora Ventures
• InterVest
• Growth capital
• TMT