Openspace Ventures’ Strategy Post Third Managed Fund Worth $200 Million
Targeting over 15 startups in Southeast Asia
Yenny Yusra - 24 March 2021
In the middle of March 2021, Openspace Ventures announced to complete its third managed fund worth $20 million. This fund has marked a total commitment of $425 million.
Openspace Ventures‘ Director, Ian Sikora revealed to DailySocial that Indonesia is a very important market. In the future, they will continue to focus on enhancing the company’s presence in Indonesia.
“Nearly one-third of our portfolio located in Indonesia and we expect this trend to continue with the third fund. Recently, we welcome Aristo Setiawidjaja as Senior Advisor and Jocelyn Susilo as Senior Analyst, both are based in Jakarta. We will continue to develop our local Indonesian team in the coming months. ”
Openspace Ventures’ first and second fund were launched in 2014 and 2017. Regarding the investment value for Indonesian startups, Ian avoids revealing further detail. However, according to itscommitment, they will continue to actively seek out potential startups in the country.
“Openspace remains agnostic and explores opportunities in each sector. The third fund will target more than 15 investments in Southeast Asia,” Openspace Ventures’ Associate, Tania Shanny Lestari said.
Founded in 2014, the Singapore-based company has a total portfolio of 33 investments across key sectors including logistics, fintech, agritech, edtech, healthtech, cleantech, and B2B SaaS. Indonesia is claimed to be their key country with several investments, including Gojek, FinAccel, Halodoc, TaniHub Group, and the recent ones, iSeller, Zenius, and Pluang.
The Openspace team consists of 25 people from 12 countries. The company held offices in Bangkok, Jakarta, and Manila; also in the process of setting up an office in Ho Chi Minh City.
Supporting woman entrepreneurs
They are currently held activities focused on supporting women entrepreneurs in Southeast Asia by launching special mentoring activities for female entrepreneurs or aspiring entrepreneurs. Apart from celebrating International Women’s Day, Openspace Ventures expects to expand women’s participation in the venture capital ecosystem through this activity in Southeast Asia, including in Indonesia.
To date, there have been around 42 participants registered for this activity, all of which will be directly supported by the Openspace Ventures team. Some of the information or education that will be given to participants includes investment, technology, HR, data science, Emotional and Spiritual Quotient (ESQ) & impact.
- Struktur Sembrani Nusantara Mirip Reksa Dana, BRI Ventures Juga Luncurkan “Venture Debt”
- Telkom dan VC Asal Belanda Finch Capital Luncurkan Dana Kelolaan Baru “Arise Fund”
- Mandiri Capital Segera Rilis Dua Dana Kelolaan Baru Tahun Depan
- BRI Ventures Bukukan 150 Miliar Rupiah dalam Penutupan Pertama Sembrani Nusantara
- AC Ventures Bukukan Dana Kelolaan 823 Miliar, Targetkan 30 Startup Tahap Awal di Indonesia
“For those who intend to join, the opportunity is still open until the end of March. There will be a mentoring session to be scheduled according to the skill set request. And the mentors will spend around 1-2 sessions with the participants.”
Original article is in Indonesian, translated by Kristin Siagian
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