Openspace promotes growth fund head to partner
Jessica Huang Pouleur, who was recruited by Openspace Ventures last year to lead the Southeast Asia-focused venture capital firm’s growth equity strategy, has been promoted to partner.
Pouleur, who joined as an executive director, now sits alongside co-founders Shane Chesson and Hian Goh, who have led Openspace since 2014. She previously spent a decade with Providence Equity Partners in Singapore, departing for The Walt Disney Company in 2017. Pouleur was responsible for Disney’s strategy and business development in Asia Pacific.
Having closed its third venture capital fund in March with $200 million in commitments, Openspace reached a first close of $120 million on its debut growth fund – known as OSV+ – in August. The overall target is $200 million. While the VC fund concentrates on Series A and B rounds, OSV+ is positioned to enter at the Series C and D stages.
“There are five or six portfolio companies where later-stage follow-ons were missed, amounting to about 3x of returns on a pro-rata of about $60 million,” Pouleur told AVCJ at the time of the first close. “We already had a pro-rata allocation to the round, we knew the companies and could see the growth trajectory, we just didn’t have the capital to make those investments.”
OSV+ investments to date include remote patient monitoring business Biofourmis, Indonesian mobile healthcare start-up Halodoc, buy now-pay later platform operator FinAccel, Indonesia-based investment app Pluang, Philippines live-streaming business Kumu, and food and beverage start-up Jiwa Group.
Pouleur led the investments in Pluang, Kumu, and Jiwa. The latter represents the first OSV+ deal that doesn’t involve a portfolio company from the early-stage funds.
“Hian and I have known Jessica since 2005 and have been constantly impressed with her judgment, expertise and hustle as she built her track record across senior investing and corporate roles,” Chesson said in a statement.
“As Openspace moves into a new stage of development, with two new funds closed and 10 new team members in 2021 alone, she is the ideal addition to the partner group to help the firm address the vibrant Southeast Asian opportunity.”
Goh added that Pouleur’s promotion reflects the maturation of the Openspace platform and the emphasis it places on diversity. Women now account for 45 of total headcount. It also employs people of 11 different nationalities.
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