Like its first fund, KK Fund II will focus on marketplace, fintech, logistics, media and entertainment startups in Asia
KK Fund has completed the first close of its second fund KK Fund II (meaning it can start making investments and close deals though new investors can still join). The amount was not disclosed.
The investors who took part include Incubate Fund, who invested in KK Fund’s first venture fund, as well as new investors digital and video gaming giant Sega Sammy Holdings, Internet advertising agency SEPTENI HOLDINGS, startup incubator Mistletoe, several family offices and individuals from Japan.
With this new fund, the Singapore-based VC will continue its mandate of funding seed-stage Internet and mobile startups in Southeast Asia, Taiwan, and Japan, and will be focussing on marketplaces, fintech, logistics, media and entertainment.
“We continue to see opportunities for technology startups in Southeast Asia, driven by improvements in infrastructure and regulations. Entrepreneurs in the region, including Hong Kong and Taiwan, are also maturing alongside the ecosystem which led us to launch our second venture fund.” said Kuan Hsu, General Partner of KK Fund, in an official press statement.
KK Fund also welcomed a new Partner – Masahiko Honma, co-founder and General Partner at Incubate Fund. Honma will be helping to manage the firm on a part time basis.
Prior to establishing Incubate Fund, Honma co-founded and ran mobile gaming giant Pokelabo, managed an angel fund for five years, and also worked at an investment firm of Mitsubishi Corporation Group.
KK Fund was launched in March 2015 by Former IMJ Investment Partner Director Koichi Saito, he was later joined by Hsu — formerly Principal at Gree Ventures — in November.
To date, KK Fund’s first venture fund has made 13 investments across the region.
Image Credit: KK Fund
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